Best Trusts Lawyers in Bacolod City
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Philippines Trusts Legal Questions answered by Lawyers
Browse our 2 legal questions about Trusts in Philippines and the lawyer answers, or ask your own questions for free.
- Who has the legal right to own a property: the one with the Tax Dec with the name of the deceased father (still not transferred by other claimants for 20 years) or the one with the copy of Deed of Absolute Sale of the property showing that it was sold by
- Based on the facts you provided, here’s a legal analysis comparing ownership rights between:A. The Heirs of the Deceased Father (name on the Tax Declaration),versusB. Your Side (Buyers who possess a Deed of Absolute Sale, paid real property taxes, planted trees, and occupied the land for over 20 years)Legal Principles to Consider1. Tax Declaration (Tax Dec)A Tax Declaration is not proof of ownership; it’s evidence of possession or a claim of ownership.The fact that it still bears the name of the deceased father means no formal transfer of title or succession has occurred.Tax Decs can support claims of ownership, but they don't override a valid deed or actual possession.2. Deed of Absolute Sale (DOAS)A DOAS is proof of a sale and an agreement to transfer ownership.If it is:Validly executed (signed, notarized, by someone with capacity),Relating to the same land in question,And if you have taken possession and paid taxes,then it is strong legal evidence of ownership, even if not yet registered.3. Payment of Real Property TaxesWhile not conclusive proof of ownership, consistent payment supports your claim of open and notorious possession and recognition by the State (LGU).4. Open, Continuous, Exclusive, and Notorious Possession (OCEN)Under the doctrine of extraordinary acquisitive prescription (under civil law, particularly in the Philippines Civil Code), if you have:Possessed the land publicly, peacefully, and in the concept of an owner,Continuously for over 30 years without need of title,then you may acquire ownership by prescription, even if the property is not yet titled.In ordinary prescription, 10 years with just title (like a DOAS) and good faith can suffice.5. Succession LawThe deceased’s heirs are co-owners by succession, but if they’ve taken no steps for 20 years to assert their rights, and the buyers have acted as owners, this may weaken their claim, especially under laches (failure to assert rights timely).Conclusion: Who Has the Stronger Legal Right?You (Buyers / Possessors) have the stronger legal claim if:The Deed of Absolute Sale is valid, showing sale from the deceased to your father.You have paid property taxes continuously.You’ve been in continuous, peaceful, public possession in the concept of an owner for more than 20 years.The other side never asserted their rights or disrupted your possession.If the property is unregistered, your case is even stronger, especially if prescription applies.What You Can Doverify:Validity of the DOAS.Whether prescription has been completed (based on exact years and possession facts).Apply for judicial confirmation of ownership (if Philippine jurisdiction), or start reconstitution and registration process under your name.Gather supporting proof:Tax receipts.Witness statements.Tree planting records or photos.Boundary surveys showing occupation.If you let us know which country this is (e.g., Philippines, Latin America, etc.), we can cite the specific laws that apply to your case.
- Who will be the legal heir upon death of both parents
- According the Greek Civil Code, there are two systems of succession, testamentary and intestate succession. Intestate succession includes only in bolld relatives, which means that without a last will legally validated sons in law cannot become heirs after their father in law passes away.
About Trusts Law in Bacolod City, Philippines
Trusts are legal arrangements utilized for holding and managing assets for beneficiaries. In Bacolod City, like the rest of the Philippines, trusts are governed by the Civil Code of the Philippines. They are typically used for estate planning, allowing individuals to manage their assets during their lifetime and ensure their distribution according to their wishes upon death. Trusts can be established for various purposes, including securing financial futures for minors, philanthropic endeavors, or managing assets for those incapable of doing so themselves.
Why You May Need a Lawyer
There are several situations where seeking legal assistance for trusts is advisable. Common instances include:
- Establishing a trust for estate planning to ensure assets are distributed according to personal wishes.
- Administering a trust to comply with legal, tax, and financial regulations.
- Facing disputes among beneficiaries or with trustees over the terms or administration of a trust.
- Amending or terminating an existing trust due to changes in circumstances or personal wishes.
- Need for legal guidance in understanding the implications and responsibilities of being a trustee.
Local Laws Overview
The legal framework for trusts in Bacolod City follows the regulations set forth in the Civil Code of the Philippines. Key aspects include:
- Creation of Trusts: Trusts can be created through a written document, reflecting the intent to establish a fiduciary relationship.
- Types of Trusts: Trusts can be express or implied, with the specifics of each affecting their management and taxation.
- Trustees & Beneficiaries: The appointment, duties, and obligations of trustees and rights of beneficiaries are stipulated by law.
- Taxation: Trusts are subject to specific tax regulations, impacting both trustees and beneficiaries.
- Dispute Resolution: Legal recourse is available for disputes arising from the mismanagement or misinterpretation of a trust.
Frequently Asked Questions
What is the primary purpose of establishing a trust?
A trust is primarily established to manage and protect assets for future distribution to beneficiaries, ensuring that they are utilized according to the grantor's intentions.
How does a trust differ from a will?
While both are estate planning tools, a trust can manage and distribute assets during the grantor's lifetime and after death, whereas a will only takes effect upon death.
Can trusts be revoked or amended once established?
Yes, certain trusts can be revoked or amended, but this depends on the type of trust established. Revocable trusts offer more flexibility compared to irrevocable trusts.
What responsibilities do trustees have?
Trustees are responsible for managing the trust's assets, ensuring that they are administered according to the trust's terms and for the beneficiaries' best interests.
Are there any tax implications for establishing a trust?
Yes, trusts are subject to specific tax laws which can impact both the trustee and beneficiaries. Consulting with a tax specialist is advisable to fully understand these implications.
Is it necessary for a trust to be registered?
In the Philippines, trusts themselves are not typically registered, but the assets within a trust may need to be, depending on their nature.
What happens if a trustee breaches their fiduciary duty?
If a trustee breaches their duties, legal action can be taken against them to seek remedy for any harm caused to the beneficiaries or trust estate.
Can a trust protect my assets from creditors?
A properly structured trust may offer some protection from creditors, but this is not guaranteed and depends on individual circumstances and compliance with creditors’ rights laws.
Can foreign persons set up a trust in Bacolod City?
Yes, foreign nationals can establish trusts in Bacolod City, though they might face additional legal considerations. It is advisable to seek local legal advice in these circumstances.
How are disputes involving trusts typically resolved?
Disputes are generally resolved through legal proceedings in courts, though mediation and arbitration can offer alternative dispute resolution methods.
Additional Resources
For more information and assistance, the following resources may be helpful:
- Integrated Bar of the Philippines (IBP) - Negros Occidental Chapter: Offers legal assistance and resources for personal and commercial legal matters.
- Department of Justice - Bacolod City: Provides guidance on legal rights and obligations under trust law.
- Local Notarial Services: Essential for the documentation and establishment of trusts.
Next Steps
If you are considering establishing a trust or require legal assistance regarding a trust issue in Bacolod City, it is recommended to:
- Consult with a legal expert specializing in trusts and estates to understand your options and responsibilities.
- Gather relevant documentation and information about your assets and intended beneficiaries.
- Consider potential trustees and discuss your intentions to ensure they are willing to undertake the role.
- Reach out to the Integrated Bar of the Philippines for resources and referrals to qualified legal practitioners.
- Secure legal representation to draft and review the trust agreement ensuring compliance with local laws.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.