Thursday, May 12, 2016

How to Register Real Estate Property in the Philippines


Registration of one’s real estate property is important and mandated by law. This is because registration provides property owners with an indefeasible proof of ownership that is valid and binding against the whole world. 

Once a person’s property is registered within the corresponding local Registry of Deeds under Presidential Decree No. 1529, his or her right to the property may not be collaterally attacked in any proceeding and is presumed to be regular in all respects, absent substantial proof to the contrary presented in a direct suit contesting the same.

Property registration is often undertaken after acquiring rights to certain real property through acquisitive prescription, or through simple conveyances such as Deeds of Sale or Deeds of Donation. 

Here is a brief and concise outline for the process of registering property in the Philippines under Presidential Decree No. 1529:

1. Check your Registry of Deeds
Make sure that there are no encumbrances or annotations on your subject property. In case there is, it would be better to settle the issue before proceeding.

2. Prepare all related documents
This includes the appropriate Deed Document, as the case may be, a tax clearance certificate from the Land Tax Division of the City Treasurer’s Office, a copy of the latest tax declaration, and other pertinent documents from the City Assessor’s Office.

3. Pay Documentary Stamp Tax (DST)
DST is 1.5% based on the selling price of fair market value of the property in question, whichever is higher.

4. Obtain Certificate from BIR
This important document is required before actual registration may be performed by the Registry of Deeds.

5. Pay Transfer Tax
Transfer tax must be paid with the City Treasurer’s Office within 60 days from the date of the deed or its notarization thereof. 

6. Register with your local Register of Deeds (RD)
After those processes mentioned above, the Register of Deeds may finally record and register title over one’s property.

Make sure to keep your property safe and secure by registering your title with the local Registry of Deeds.


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