Best Trusts Lawyers in Olongapo City

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List of the best lawyers in Olongapo City, Philippines

Recososa Law Firm

Olongapo City, Philippines

Founded in 2020

11 people in their team

www.facebook.com

English

Tagalog

All Specialization Law Firm & Notary Public located at the heart of Cebu City In IT Park Lahug. From Commercial Law, Labor Law, Immigration Law, Criminal Law such as Estafa, Cybercrime like Cyberlibel, Defamation, Fraud, Criminal Prosecution, Civil Law, Land Dispute, Land Registration,...

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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.

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About Trusts Law in Olongapo City, Philippines

Trusts in Olongapo City, as in the broader Philippines, are governed under the Civil Code and other related laws. A trust is a legal arrangement where one party, the trustor, transfers property ownership to another party, the trustee, to manage for the benefit of a third party, the beneficiary. Trusts can be used for a variety of purposes, including estate planning, asset protection, and charitable giving. Understanding the local interpretation and application of trust laws can provide significant advantages in safeguarding interests and fulfilling fiduciary duties.

Why You May Need a Lawyer

Several scenarios may necessitate seeking legal help for trusts in Olongapo City:

Estate Planning: Establishing a trust as part of an estate plan to manage and distribute assets according to one's wishes.
Asset Protection: Creating a trust to protect assets from creditors and unforeseen liabilities.
Managing Trusts: Dealing with complex issues that arise during the administration of a trust.
Charitable Trusts: Establishing or managing a trust for philanthropic purposes.
Dispute Resolution: Resolving disputes that can occur between beneficiaries and trustees.

Local Laws Overview

In Olongapo City, trust law is primarily derived from the Civil Code of the Philippines, which outlines the general provisions, the creation, effects, and extinguishment of trusts. Trustees have a fiduciary duty to act in the best interests of the beneficiaries, and any breach of this duty can result in legal consequences. Trusts must be explicitly formed, with clear intent, purpose, and terms, and are subject to interpretation by local courts. The Trusts in the Philippines are categorized into express trusts and implied trusts, with express trusts requiring clear and unequivocal language.

Frequently Asked Questions

What is a trust?

A trust is a legal arrangement where one party holds property on behalf of another for the benefit of a third party.

Who are the main parties involved in a trust?

The three main parties in a trust are the trustor, the trustee, and the beneficiary.

Are trusts recognized as legal entities in the Philippines?

No, trusts themselves are not recognized as legal entities, but the trustee holds power to manage the trust property.

Can a trust be contested in Olongapo City?

Yes, trusts can be contested, especially if there are claims of breach of fiduciary duty or misinterpretation of terms.

What are the tax implications of setting up a trust?

Trusts may be subject to various taxes such as donor’s tax or estate tax depending on how they are structured.

How long does a trust last?

The duration of a trust can vary, often determined by its terms and the specific purpose it serves.

Can a trust be modified after it is established?

Yes, modification is possible if provisioned for in the trust agreement or through court intervention if warranted.

Is a lawyer required to establish a trust?

While not legally required, a lawyer’s expertise can ensure the trust is established correctly and without legal loopholes.

What is the role of a trustee?

The trustee manages the trust property and ensures the trust operates in the best interest of the beneficiaries according to its terms.

Can a trust own real estate in the Philippines?

Yes, a trust can own real estate, but there are specific rules and considerations regarding property ownership.

Additional Resources

For those seeking more information or assistance, several resources can be contacted, including:

Integrated Bar of the Philippines (IBP): The official organization of Filipino lawyers which can provide lawyer referrals.
Bureau of Internal Revenue (BIR): For tax-related inquiries regarding trusts.
Notary Public Offices: For document notarization and advice on property and legally binding agreements.
Local Government Units (LGU): Can provide more localized advice and documentation assistance.

Next Steps

If you need legal assistance with trusts, consider taking the following steps:

Consult an Attorney: Start by seeking the counsel of a practicing lawyer in Olongapo City specializing in trust and estate law.
Gather Documentation: Prepare all necessary documents and information relevant to the trust you are interested in setting up or managing.
Understand Your Needs: Clearly define what you want to achieve with the trust, whether it's estate planning, asset protection, or another purpose.
Schedule a Consultation: Arrange a meeting with a legal professional to discuss your situation and get tailored advice.

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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.