Have you ever wondered how to transfer ownership of property when the owner has passed away?
Did you know that extrajudicial settlement of estate can make it easier to sell the property in the name of the deceased?
Welcome to Legal Guide Philippines where we simplify the law to help you make better choices. I'm Atty. Ramon Ramirez and I'm with my partner, Atty. Erwin Zagala.
Today, we're talking about how to sell property in the name of a deceased loved one through the extrajudicial settlement of the estate.
Point 1:
Prepare the necessary documents. To sell the property in the name of the deceased, you'll need to prepare a Deed of Extrajudicial Settlement of the Estate, which includes the agreement of all the heirs. You'll also need a Certified True Copy of the Death Certificate of the deceased and a Tax Declaration for the property.
Point 2:
Publish the Deed of Extrajudicial Settlement of Estate. After preparing the necessary documents, you'll need to publish the Deed of Extrajudicial Settlement of Estate in a newspaper of general circulation. This is to inform the public that the property is being sold and give potential creditors the chance to claim their debts.
Point 3:
File the Deed of Extrajudicial Settlement of Estate with the relevant gov't agencies. After the publication, you'll need to file the Deed of Extrajudicial Settlement of Estate with BIR, Loc gov't, and Registry of Deeds where the property is located. This will transfer the ownership of the property to the heirs, allowing them to sell it.
Hopefully, you learned a lot from our discussion today.
If you want to learn more, enroll in our Estate Settlement Workshop at info.legalguide.ph/estate
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