JBA Real Estate Negros

Rejoice! A Savior is born unto us. Let the magic of Christmas fill your home with joy and your heart with love. Embrace the blessings of this Christmas season!🎄🎁🙏

Whenever I see reservations this BER MONTHS. Just goodvibes to welcome the most wonderful time of the year

A blessed sunday to all! 💚

The Cebulandmasters project is almost in full swing. Citadines and The Row Mall are almost finished. 🙌

Avail our limited PROMO for as low as PhP 6K monthly equity (10 units available for FREEE 20k appliances)

PM me now for assistance

FOR ALL TO KNOW‼️

This land usually are being sold as YUTA DATA DATA.
So please before investing, check.
Before deciding, refer to a Licensed Real Estate Practitioner for a DUE DILIGENCE of all the papers.

🕵️Things to know about CLOA:

Is it safe to buy a property with CLOA Title?
Looking for a property to invest or a land where you can build your future home one can be taxing. There are lot of factors to look into including and importantly the legality of the property that you are eyeing.

Is someone selling you a property or have you gained interest in a property that has CLOA title and you’re not sure whether or not it is safe to buy a property with CLOA Title? Here are some of the important information about CLOA land to help you decide whether or not it is worth all the effort to acquire it.

What is CLOA Title?
Certificate of Land Ownership Awards or CLOA is a document that states ownership of the land granted or awarded to the beneficiary by the Department of Agrarian Reform (DAR). This means that the current owner of the CLOA land had acquired the property from DAR.

Can the owner sell the CLOA Land awarded to him?
The CLOA land is legally under the name of the owner or the beneficiary but it has some conditions and restrictions under the Comprehensive Agrarian Reform Law (CARL) and other applicable law. Included in the limitations is the selling or transferring of ownership of the CLOA Land to other people.

Unfortunately, CLOA lands cannot be alienated or sold to any other person. There is an existing 10-year restriction period from the time the land was award to the beneficiary stating that the beneficiary cannot dispose of these lands whether by selling it or transferred.

Selling them to any developer or any private citizen without the permission of DAR considered illegal.

When can I buy a land with CLOA Title?
Since the CLOA land beneficiary is prohibited to sell, transfer or convey the right to use the land, it can only be sold, transferred or conveyed to their children, the government, the Land Bank of the Philippines (LandBank), or other qualified beneficiaries after 10 years.

Only after 10 years that the CLOA land title restrictions has lapsed can you safely and legally purchase the land.

Under the land reform law, farmer-beneficiaries can only sell the land after 10 years and/or only after the original owner has been compensated.

Should you invest in a CLOA titled land?
The straight answer to this is unless the CLOA titled is over 10 years old or the current owner or beneficiary had fully compensated the original owner of the land is when it is safe to buy the property. Make sure to do your due diligence and look up the legality of the property you are buying – regardless if it is CLOA titled or otherwise.

Real Estate 101 🔥

Transfer of Title; From mother Title to individual Subdivided Lot

The duration of the Transfer Process depends on the Nature and Origin of the Title.

In most cases, the ”Mother” title or the title that covers the entire property is usually under the name of the deceased parents or relatives of the Seller. This scenario takes the longest time to process. To wit:

1. Ex*****on of the EXTRAJUDICIAL SETTLEMENT OF ESTATE either for Partition or Sale. The ex*****on may take time because it requires the presence of all the heirs who have shares or interest of the property.

2. Next would be the Publication of the ExtraJudicial Settlement of Estate and the Processing and Payment of the Estate Tax.

3. Simultaneously, if the heirs agreed to a certain partition , they must Hire a competent Geodetic Engr., to survey and plot the Subdivision plan based on the agreed partition. Then, it will be submitted to DENR for approval. (This will usually take 3-12 months depending on the DENR.)

4. Upon completing the Publication Requirements, the heirs can now proceed with the BIR to settle the estate tax and wait for eCar to be released. (Usually 3-6 weeks)

5. Once the eCar is released, you may now proceed to the Registry of Deeds to update the Title. From the Old Title named after the deceased parents to the HEIRS.

6. Once the DENR will release the approval of the Partition/Subdivision plan, the heirs may now proceed to the Registry of Deeds (ROD) to apply for the Splitting of Title. This may take up to 6 weeks.

7. After the Titles are individualized and released, the heirs may now proceed to the Assesors for assessment, inspection and issuance of individual Tax Declaration.

8. Note: properties under estate taxes and subdivided among heirs will be annotated with encumbrances for its Liabilities under Sec. 4 Rule 74 for 2 years. This is a protection to all the heirs or creditors that are not aware or not uncluded in partition.

9. If you buy a portion of this property, you may now start the Transfer Process which may include the ff:

9A. Ex*****on of the final Deed of Sale with Title no. And description of the actual portion.

9B. Payment of Capital Gains Tax, Documentary Stamp Tax and other transfer Fees.

9C. After settling the BIR transfer Tax, you may now obtain your eCAR from from the BIR. (3-8 weeks)

9D. Once the eCAR is available, you may now proceed to the ROD for the transfer of title. (3-8 weeks)

9E. After the Release of the Title, you have to proceed to the Assessors office for inspection, assessment and issuance of new Tax Declaration.

The entire processing usually take 18-36 months depending on fast you can comply with all the requirements.