How to Transfer Property in the Philippines? Estate Tax Amnesty Guide

Estate Settlement 2 min read , February 16, 2024
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Meron ba kayong property na nahihirapan kayong ibenta kasi nasa pangalan pa ng inyong mga ninuno? Let’s dive in sa Estate Tax Amnesty!


This is a very typical problem here in the Philippines. Marami tayong mga kababayan na nangangailangan ng pera and one of the ways to move forward is makapagbenta ng properties nung family nila. Kaya lang, hindi nila ito mabenta kasi nasa pangalan pa ito ng kanilang mga magulang or worse, nasa ninuno pa. So paguusapan natin today pano ba natin malulutas tong problema na to

Welcome to Legal Guide PH, 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 the estate tax amnesty extension in the Philippines.


So, today we will be talking about how to solve yung issue where hindi natin mabenta yung property kasi nasa pangalan pa ng ninuno…


Bakit ba nangyayari ito?


1. Hindi alam na kelangan itransfer ang properties sa mga tagapagmana or heirs – hindi ito automatic
2. Katamaran or procrastination
3. No one takes charge
4. Busy ang lahat
5. Natatakot sa mga magiging penalties or mga babayaran – talk about the interest


And ano nagiging effects pag hindi natransfer sa mga tagapagmana?


1. Hindi na lang muna ibenta - bahala na
2. Hindi nila mabenta kasi too much hassle sa buyer
3. Wait for a buyer na bibili at the right price and siya na lang magbabayad ng lahat ng costs of transfer; effect nito, medyo palugi yung pagbenta
4. Go to fixers or kakilala. Masyado mahal yung fixers or hindi naman lahat may kakilala or connect


So how do we go about it?


1. Kailangan talaga mag undergo ng process of estate settlement – what is the goal of estate settlement
2. What is the process of estate settlement
3. Who can help me settle the estate – estate settlement professionals
4. Good news – Estate settlement amnesty


Conclusion

So, there you have it, folks! Let’s settle yung mga estate nung mga ninuno naten by making the most of the estate tax amnesty extension in the Philippines

Remember, estate tax matters can be complex, and it's always a good idea to consult with a tax lawyer or visit the Bureau of Internal Revenue (BIR) for the most up-to-date information and guidance.

Estate Settlement Guide Workshop



If you found this video helpful, give it a thumbs up and share it with friends who might benefit from this info. And if you have more legal questions or concerns, feel free to reach out to a legal professional or visit your local government agencies. Stay informed and make those smart choices!

So wasn't that simple? Now go make better choices.

Estate Settlement Estate Tax