Cristoper Zigazo

FEES ON THE TRANSFER OF TITLE IN THE PHILIPPINES

1. Docs Stamp (1.5% of the total selling price)
2. Transfer Tax (0.5% but not over 1% of the selling price or zonal value whichever is higher depending on LGU where the property is located.
3. Registration Fee (depends on the amount of the property in the Deed Of Sale)
4. Notarial Fee (depends on the amount of the property in the Deed Of Sale)
5. Processing Fee (fee of the broker/agent who will transfer the title, depends on the agreement of the agent/broker and client. )
6. Miscellaneous (Expedite, attorney fee etc)
7. Capital Gains Tax (6% of the total selling price.)

credit/title pic is from: thisisphilippines

Contract to SELL vs Contract of SALE (Deed of Sale)

📌 What is a Contract of Sale?

Article 1458 of the Civil Code of the Philippines states: "By the contract of sale one of the contracting parties obligates himself to transfer the ownership and to deliver a determinate thing, and the other to pay therefor a price certain in money or its equivalent."

📌 What is a Contract to SELL?

“A contract to sell, on the other hand, is defined as a bilateral contract whereby the prospective seller, while expressly reserving the ownership of the subject property despite its delivery to the prospective buyer, commits to sell the property exclusively to the prospective buyer” upon full payment of the purchase price” (Tumibay vs Lopez, GR 171692)

📌 When does the title or ownership over the property transferred in a CONTRACT OF SALE?

In a contract of sale, title passes to the vendee upon the delivery of the thing sold (actual delivery) or upon ex*****on of the deed of sale (constructive delivery)

📌When does the title or ownership over the property transferred in a CONTRACT TO SELL?

In a contract to sell, by agreement the ownership is reserved in the vendor and is not to pass until the full payment of the price.

📌 Does the actual delivery of the property result to the transfer of the ownership of the property?

It depends.

✔️If a Contract of SALE, yes as there is actual delivery.

✔️If a Contract to SELL, the actual delivery of the property does not necessarily mean the transfer of ownership.

📌 To summarize, what is the difference between a Contract to Sell vs a Contract of Sale?

In a contract of sale, title passes to the vendee upon the delivery of the thing sold (actual delivery) or upon ex*****on of the deed of sale (constructive delivery); whereas in a contract to sell, by agreement the ownership is reserved in the vendor and is not to pass until the full payment of the price.

In a contract of sale, the vendor has lost and cannot recover ownership until and unless the contract is resolved or rescinded; whereas in a contract to sell, title is retained by the vendor until the full payment of the price.

‼️ctto‼️

𝟲 𝗧𝗔𝗫𝗘𝗦 𝗬𝗢𝗨 𝗡𝗘𝗘𝗗 𝗧𝗢 𝗖𝗢𝗡𝗦𝗜𝗗𝗘𝗥 𝗪𝗛𝗘𝗡 𝗕𝗨𝗬𝗜𝗡𝗚 𝗟𝗔𝗡𝗗

You need to acquaint yourself of these taxes when you purchase a piece of land. This should be part of your budget.

1️⃣ 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗚𝗮𝗶𝗻𝘀 𝗧𝗮𝘅 - You pay this when you sell something at a price higher than you spent to buy it. In other words, it is a tax levied on the earnings gained from selling capital assets.
2️⃣ 𝗥𝗲𝗮𝗹 𝗣𝗿𝗼𝗽𝗲𝗿𝘁𝘆 𝗧𝗮𝘅 - that is paid annually for owning real property such as land, building, improvements, and machinery. The Local Government Unit imposes this tax as a means of raising their revenue to fund basic public services they provide.
3️⃣ 𝗗𝗼𝗰𝘂𝗺𝗲𝗻𝘁𝗮𝗿𝘆 𝗦𝘁𝗮𝗺𝗽𝘀 𝗧𝗮𝘅 - It is a tax charged on documents, instruments, any loan agreements, and papers evidencing the acceptance, assignment, sale, or transfer of an obligation, right, or property.
4️⃣ 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 𝗧𝗮𝘅 - is imposed whenever there is a transfer of ownership of the real property through sale, donation, or any other mode. The rate ranges from 0.5% to 0.75% of the zonal value or selling price of the property, whichever is higher depending on the municipality where the land is located.
5️⃣ 𝗗𝗼𝗻𝗼𝗿’𝘀 𝗧𝗮𝘅 - is imposed on the free transfer of property between two or more persons by donation or gift provided they are still alive at the time of the transfer.
6️⃣ 𝗘𝘀𝘁𝗮𝘁𝗲 𝗧𝗮𝘅 𝗼𝗿 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 𝗧𝗮𝘅 - is imposed on the privilege of transferring property upon the death of the owner of the land to the lawful heirs. You need to file and pay the Estate Tax before the ownership of any real property can be transferred from the decedent to his/her heirs.

VILLA ASER IPIL CARMEN, CEBU

☆☆☆ OUR NEWEST PROMO
Choices discounts ☆☆☆
■ Free Land Titling
■ Php. 20, 000 Outrigh Dis.
■ STRAIGHT MONTHLY
■ NO DOWNPAYMENT
■ Optional P5, 000 reserve fee
■ 60 mon. 5yrs. To pay 0% int.
PAYMENT SCHEME
In House Financing scheme.
Presell Price
Price P/sq.m. Php.4,000 regular
Corner Php.4,500 p/sq.m.
FORMULA FOR COMPUTATION
AREA x PRICE = TCP - 2OK
DiS = BALANCE ÷ 60 mos.
( 5yrs.) St. Monthly
as low as P3, 000 per month for 50 sq.m. Area 5yrs. payable ( 60 mos.)
STRAIGTH MONTHLY
TCP. Php. 200, 000
Less 20, 000 outright dis.
Bal. Amt. 180, 000
Payable in 5yrs. 60 months
To pay 0% int. as low as
Php. 3, 000 monthly
Note: Promo Choices dis.
Less 20K dis. / Free Land Titling
🐸 🐵 🙈 🙉 🙊 🐒 🐔🐧🐦🐤
🏗🏙NEAREST ESTABLISHMENT:
✅ Near in FPD Food Carmen Plan 2 min.
✅ Near in St. Augustine Parish Church 3 min.
✅ Near in Metro Supermarket Carmen 5 min.
✅ Near in Carmen Public Market 3min.
✅ Near in ( CTU ) Carmen 3 min.
✅ Near in Carmen Christian School 3 min.
✅ Near in Carmen Municipal Hall.
✅ Near in Rural Bank Carmen Branch 3 min.
✅ 7-11 Carmen 3min.
For Site Tripping schedule.
Chris # 09615741564
Tel.no.☎ ( 032 ) 887-1608