Best Conveyancing Lawyers in Makati City

About Conveyancing Law in Makati City, Philippines

Conveyancing refers to the legal process of transferring property ownership from one person or entity to another. In Makati City, a major business hub in Metro Manila, conveyancing usually involves residential, commercial, or industrial real estate. The process encompasses drafting and reviewing contracts, conducting due diligence, verifying property titles, paying taxes and fees, and registering the property under the new owner's name. Since real estate transactions in the Philippines involve strict compliance with national and local laws, as well as city-specific regulations, proper conveyancing is essential to ensure that both buyer and seller are fully protected.

Why You May Need a Lawyer

There are several common situations in Makati City where legal help with conveyancing becomes crucial. These include:

• Buying or selling real property and ensuring all documents are legally valid.
• Transferring property ownership due to inheritance, donation, or other reasons.
• Verifying land titles and avoiding fraudulent transactions.
• Resolving issues with property boundaries or encumbrances.
• Handling corporate real estate acquisitions or sales.
• Ensuring compliance with local zoning laws and development permits.
• Navigating the complex requirements of property taxes, capital gains tax, documentary stamp tax, and other government fees.
• Dealing with disputes related to property ownership or rights.
• Registering foreign ownership subject to regulatory limitations.
• Coordinating with banks for mortgage, loan, or foreclosure related conveyancing needs.

Local Laws Overview

Conveyancing in Makati City is governed by a combination of national laws, such as the Civil Code, Property Registration Decree (Presidential Decree No 1529), and local government ordinances. Several agencies play a key role, including the Register of Deeds of Makati, the Bureau of Internal Revenue (BIR), and the local City Assessor’s Office. Key legal aspects include:

• All transactions involving real estate must be in writing and usually require notarization to be enforceable.
• Title verification is mandatory to ensure the property is free from liens or adverse claims.
• Payment of transfer taxes, registration fees, and other charges is necessary prior to transfer of ownership.
• Property sellers are subject to Capital Gains Tax and Documentary Stamp Tax, while buyers pay transfer taxes and registration fees.
• Ownership registration is done at the Registry of Deeds, while property tax updates are handled by the City Treasurer’s Office and City Assessor’s Office.
• Condominium purchases require compliance with the Condominium Act and regulations from the Housing and Land Use Regulatory Board.
• For corporate property transfers, additional SEC documentation may be required.
• Foreign ownership of land is generally not allowed, but exceptions exist for condominium units and through certain investment structures.

Frequently Asked Questions

What is conveyancing in Makati City?

Conveyancing refers to the legal steps required to transfer property ownership or title in Makati City. It includes due diligence, preparing legal documents, paying taxes, and registering the transfer with the proper government agencies.

Why do I need a lawyer for conveyancing?

A lawyer ensures that all legal requirements are met, documents are valid, and the transaction is enforceable. They help protect your interests, avoid fraud, and manage risks associated with property transfers.

How long does the conveyancing process take?

The timeline can vary depending on the complexity of the transaction, availability of necessary documents, and government processing times. Generally, expect a few weeks to several months.

What government agencies are involved in the conveyancing process?

Key agencies include the Registry of Deeds of Makati, Bureau of Internal Revenue (BIR), Makati City Treasurer’s Office, City Assessor’s Office, and sometimes the Housing and Land Use Regulatory Board for condominiums.

What are the common fees and taxes in a property transfer?

These typically include Capital Gains Tax, Documentary Stamp Tax, Transfer Tax, and registration fees. The amounts depend on the property’s value and the nature of the transaction.

How do I verify if a property title is clean and authentic?

You or your lawyer should request a certified true copy of the Transfer Certificate of Title from the Registry of Deeds, and check for encumbrances, annotations, or adverse claims.

Can foreigners own property in Makati City?

Foreigners cannot own land in the Philippines, including Makati. They may, however, own condominium units, subject to the 40 percent foreign ownership limit in any condominium project.

What documents are required for conveyancing?

Essential documents include the original land title, tax declarations, valid IDs, Deed of Absolute Sale or other legal agreements, tax clearance, and various government clearances.

How are disputes in property ownership resolved?

Disputes can be settled through negotiation, mediation, or, if necessary, litigation in the appropriate courts. Legal assistance is crucial for protecting your rights throughout the process.

What are the steps for transferring property ownership?

Typically these include due diligence and title verification, signing and notarizing the Deed of Sale, paying taxes and fees, securing clearances, and finally registering the transfer with the Registry of Deeds and updating property tax records.

Additional Resources

If you need more information or assistance, consider reaching out to the following:

• Register of Deeds of Makati City - for title verification and registration concerns.
• Bureau of Internal Revenue (BIR) - for tax-related questions and certificate of tax clearance.
• Makati City Treasurer’s Office and City Assessor’s Office - for property tax assessments and local taxation queries.
• Integrated Bar of the Philippines (IBP) - for lawyer referrals and legal aid advice.
• Housing and Land Use Regulatory Board (DHSUD) - for issues regarding condominiums and land use.
• Legal clinics and community legal aid offices in Metro Manila.

Next Steps

If you need legal assistance for conveyancing in Makati City, here is how you can proceed:

• Gather all available documents related to the property, including title, tax declarations, and relevant legal contracts.
• Consult with a licensed real estate lawyer who is experienced in property law in Makati City.
• Discuss your goals and concerns with your lawyer to determine the best approach.
• Allow your lawyer to conduct due diligence and verify the legal status of the property.
• Work closely with your lawyer to prepare, review, and notarize necessary documents.
• Ensure all required taxes and fees are paid, and keep records of all official receipts and certifications.
• Complete the transfer by registering the transaction at the Registry of Deeds and updating local government records.
• If any disputes or uncertainties arise, seek professional legal advice immediately to protect your interests.

Proper legal guidance is vital for a successful conveyancing experience in Makati City. With the right support and knowledge, you can confidently navigate real estate transactions and protect your investment.