Best Trusts Lawyers in Cagayan de Oro
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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 Cagayan de Oro, Philippines
Trusts law in Cagayan de Oro, Philippines refers to the legal framework governing the creation, management, and dissolution of trusts. A trust is a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries. Trusts are commonly used for estate planning, asset protection, and charitable purposes.
Why You May Need a Lawyer
You may need a lawyer specializing in trusts law in Cagayan de Oro if you are looking to create a trust, modify an existing trust, navigate a dispute involving a trust, or ensure your trust is in compliance with local laws. A lawyer can provide valuable guidance, draft legal documents, and represent your interests in legal proceedings related to trusts.
Local Laws Overview
In Cagayan de Oro, trusts are primarily governed by the Civil Code of the Philippines, particularly Articles 1443 to 1492. These laws outline the legal requirements for creating a trust, the duties and powers of trustees, and the rights of beneficiaries. Additionally, the Securities and Exchange Commission (SEC) regulates certain types of trusts, such as investment trusts.
Frequently Asked Questions
1. What is a trust?
A trust is a legal arrangement where a trustee holds and manages assets on behalf of beneficiaries, according to the terms set out in a trust document.
2. How do I create a trust in Cagayan de Oro?
To create a trust in Cagayan de Oro, you need to draft a trust document specifying the trustee, beneficiaries, assets, and terms of the trust. The document must be signed and notarized.
3. Can I be both the trustee and beneficiary of a trust?
Yes, it is possible to be both the trustee and beneficiary of a trust, but there must be at least one other beneficiary to ensure the trust is valid.
4. What are the duties of a trustee in Cagayan de Oro?
The duties of a trustee in Cagayan de Oro include managing trust assets prudently, acting in the best interests of beneficiaries, keeping accurate records, and avoiding conflicts of interest.
5. Can a trust be revoked or modified?
Depending on the terms of the trust, it may be revocable or irrevocable. Revocable trusts can be modified or revoked by the grantor, while irrevocable trusts generally cannot be changed.
6. How are trusts taxed in Cagayan de Oro?
Trusts in Cagayan de Oro are subject to income tax on any income they generate. It is essential to consult with a tax professional to understand the tax implications of your trust.
7. What happens if there is a dispute involving a trust?
If there is a dispute involving a trust, it may be necessary to seek legal assistance to resolve the issue through negotiation, mediation, or court proceedings.
8. Can a trust protect my assets from creditors?
Under certain circumstances, a trust can offer asset protection from creditors. However, it is crucial to consult with a legal expert to ensure the trust is structured correctly to provide this protection.
9. Are there different types of trusts in Cagayan de Oro?
Yes, there are various types of trusts, including revocable trusts, irrevocable trusts, charitable trusts, and special needs trusts, each serving different purposes and goals.
10. How can I ensure my trust complies with local laws in Cagayan de Oro?
To ensure your trust complies with local laws in Cagayan de Oro, it is recommended to consult with a lawyer specializing in trusts law who can review your trust document and provide guidance on any necessary modifications.
Additional Resources
If you need legal advice or assistance with trusts in Cagayan de Oro, you can contact the Integrated Bar of the Philippines (IBP) or the Philippine Trust Institute for referrals to reputable lawyers specializing in trusts law.
Next Steps
If you require legal assistance with trusts in Cagayan de Oro, it is advisable to schedule a consultation with a trusts lawyer to discuss your specific needs and concerns. The lawyer can provide personalized advice and guidance on how to proceed with creating, managing, or resolving issues related to trusts.
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.