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Free Guide to Hiring a Real Estate Lawyer
Conveyancing refers to the legal process of transferring property ownership from one person to another. In Pasig, as in the rest of the Philippines, it involves a series of legal steps to ensure that land or real estate is properly transferred, registered, and that both parties are protected by law. The process is governed by local laws and regulations and includes the drafting, execution, and registration of documents such as Deeds of Sale, Real Estate Mortgages, and other related contracts. Proper conveyancing helps prevent fraud, disputes, and costly legal issues later on.
There are several situations in which you might need the assistance of a lawyer specializing in conveyancing in Pasig. These include the purchase or sale of real estate, transfer of inherited property, gifting or donating land, subdivision or consolidation of property, and correction of title errors. Lawyers play a critical role in ensuring that all documents are legally sound, requirements are met, taxes and fees are settled, and the property is transferred without complications. They can conduct due diligence to verify ownership, check for encumbrances, or resolve legal disputes that may arise during the process.
Conveyancing in Pasig is governed by national and local laws, most notably the Philippine Civil Code, the Property Registration Decree (PD 1529), and various Bureau of Internal Revenue (BIR) and local government unit requirements. Key aspects to consider include:
The first step is usually due diligence, which includes checking the property title with the Registry of Deeds to ensure it is clean and free from liens or encumbrances.
While not strictly required, it is highly recommended to have a lawyer to guide you through the complex legal and documentation process, reducing the risk of costly mistakes.
Common taxes include Capital Gains Tax and Documentary Stamp Tax, both paid to the Bureau of Internal Revenue, plus local Transfer Tax paid to the Pasig City Treasurer.
After the Deed of Sale is signed and taxes are paid, the new owner registers the transfer with the Registry of Deeds, which then issues a new Certificate of Title in their name.
If clerical errors are present, a petition for correction must be filed, often with the help of a lawyer, before the property can be legally transferred.
The process can take anywhere from a few weeks to several months, depending on the completeness of documents, taxes paid, and any legal issues encountered.
Foreigners generally cannot own land in the Philippines but may own condominium units, provided that foreign ownership in the building does not exceed 40 percent.
Key documents include the Owner's Duplicate Certificate of Title, Deed of Sale, tax clearance, updated real property tax receipts, and transfer tax payment receipts.
Obtain a Certified True Copy of the title from the Registry of Deeds, which will show any annotations such as liens, mortgages, or other claims on the property.
Consult a lawyer immediately to check the title, investigate the seller's ownership, and protect your rights before proceeding with any transaction.
Those seeking assistance with conveyancing in Pasig may consult the following resources and agencies:
If you need legal assistance in conveyancing in Pasig, begin by collecting all relevant documents pertaining to the property, including the title, tax declarations, and contracts. Schedule a consultation with a local lawyer who specializes in real estate and conveyancing. They can provide advice tailored to your situation, prepare and review documents, and represent your interests with government offices. Be prepared to conduct due diligence and attend meetings with government agencies as guided by your legal counsel. Staying proactive and seeking timely legal help will ensure the security and legality of your property transactions in Pasig.
