Best Trusts Lawyers in Balanga
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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 Balanga, Philippines
Trusts law in the Philippines, including Balanga, operates under a framework largely influenced by the country's Civil Code and the Trusts law principles that were adapted from foreign jurisdictions. Trusts are legal arrangements where one party, known as the trustee, holds assets for the benefit of another, called the beneficiary. Trusts can be used for estate planning, asset protection, and wealth management. In Balanga, as in other parts of the Philippines, trusts can be a highly effective tool for managing and safeguarding assets for future generations.
Why You May Need a Lawyer
Legal advice in the realm of trusts might be required for several reasons. If you're setting up a trust for estate planning, a lawyer can help you navigate the complexities and ensure your intentions are legally binding. Those involved in trust-related disputes may require legal intervention to resolve issues about trust management or the distribution of assets. Additionally, individuals seeking to modify or terminate an existing trust will benefit from professional advice to ensure compliance with local laws. Engaging a lawyer can ensure your interests and those of your beneficiaries are adequately protected.
Local Laws Overview
Trusts in Balanga, like the rest of the Philippines, are governed by provisions in the Civil Code of the Philippines. Key aspects include the roles and responsibilities of trustees and the creation and administration of trusts. Philippine laws stipulate that trusts must be executed in good faith, emphasizing the fiduciary responsibility of trustees to act in the best interest of beneficiaries. Additionally, the creation of a trust must not contravene public policy or existing domestic laws. Special attention must also be given to the formalities of documenting a trust agreement and ensuring its validity.
Frequently Asked Questions
What is a trust?
A trust is a legal arrangement in which a trustee holds assets for the benefit of a beneficiary, ensuring proper management and distribution according to the terms of the trust agreement.
Why should I create a trust?
Creating a trust can help in managing your estate, protecting your assets against creditors, and making sure your assets are distributed according to your wishes after your death.
Who can be a trustee?
Any competent individual or legal entity, such as a bank, can serve as a trustee, provided they are capable of fulfilling the fiduciary duties required by the trust.
Can I be my own trustee?
Yes, you can be a trustee of your own trust, particularly during your lifetime, to maintain control over your assets. However, it's generally recommended to appoint a successor trustee to take over upon your incapacity or death.
How are trusts taxed in the Philippines?
The income from a trust is typically subject to local income tax. The specific tax implications can depend on the type of trust and the nature of the assets involved, necessitating professional legal and tax advice.
Can a trust be challenged?
Yes, trusts can be contested on grounds such as the mental capacity of the person creating the trust or undue influence exerted over them.
How is a trust different from a will?
A trust is a living document that can manage and distribute assets during your lifetime and after death, whereas a will only takes effect after death and often requires the probate process.
Can a trust be changed or revoked?
It depends on the type of trust. Revocable trusts can be changed or terminated by the trustor during their lifetime, whereas irrevocable trusts typically cannot be modified without court approval or the consent of all beneficiaries.
What happens if a trustee fails in their duties?
If a trustee does not fulfill their fiduciary duties, they can be removed by a court, and beneficiaries or co-trustees can seek legal remedies for any harm caused by the trustee's actions.
How do I choose the right lawyer for trust-related matters?
Look for a lawyer with experience and expertise in estate planning and trusts law in the Philippines. It can be helpful to check their past client reviews and ensure they can adequately address your specific needs and circumstances.
Additional Resources
For further assistance regarding trusts, you can consult the Philippines Securities and Exchange Commission for guidance on trust companies. The Integrated Bar of the Philippines - Bataan Chapter can provide referrals to qualified legal professionals. It's also beneficial to visit local government offices or attend legal aid sessions hosted by non-governmental organizations focusing on estate and trust law.
Next Steps
If you need legal assistance with trusts, start by consulting with a lawyer specializing in trusts and estate planning. It is advisable to prepare a list of your questions and concerns before the consultation. Gather any relevant documents, such as estate plans or existing trust agreements, to facilitate a comprehensive review of your situation. Taking these steps will help ensure you receive tailored advice and support for your trust-related needs in Balanga.
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.