THE ULTIMATE CHECKLIST AND STEPS FOR LAND TITLE TRANSFER
First-time buyers be aware. When a sale has been made and the property Deed of Sale is signed,deadliness are already running and if you are not prepared you run the risk of missing important dates to finalize the transfer of property paperwork. To help you prevent this,we’ve summarized the key steps you need to successfully transfer land titles.
Step 1: Prepare the following documents,make sure you have the certified true copy and at least 2 pho
tocopies of each requirement:
- The Tax ID No of both buyer and seller.
- Notarized Deed of Absolute Sale (DAS)-1 Original copy + 2 photocopies
- If you are transferring a house or lot – Transfer Certificate of Title (TCT)-duplicate copy
- If you are transferring a condo-Condominium Certificate of Title (CCT)-duplicate key
- Tax Declaration- 1 Certified True Copie+2 Photocopies
- Tax clearance
- Copy of Real Property Tax for the current year.
- Management certificate form the condominium admin.
- Certificate of non tenancy from Condominium admin
- Certified true copy of the Certificate of Title (TCT) or condominium Certificate of Title (CCT)
- Tin number of both seller and buyer
- Photo of the property for sale
- Either the buyer or seller must secure a Sworn Declaration of No Improvements IF the property sold is a vacant lot or no improvements have been made on it. OR secure a Certificate of No improvement issued by the city or municipal assesor.
- Special Power of Attorney (SPA)- if the person signing on the document is not the owner as it appears on the TCT or CCT.
- if the SPA is executed abroad: Certificate of the Philippine Consulate.
- Location plan or vicinity map of sold property
- Refer to the required documents filed under the Registration of Real Property with the Register of Deeds in cases of:mortgage ,judicial or extrajudicial settlement of estate,judicial and extra-judicial foreclosure of mortgage,consolidation of ownership,execution sale,and condominium prjoect
Step 2- Go to BIR of Office of the Bureau of Internal Revenue Regional District (BIR RDO) and submit all documents.
Step 3-Acquire computation of Capital Gains Tax(CGT-BIR Form 1706) or Creditable Withholding Tax(CWT-BIR FORM 1606)by the BIR representative.
Step 4-Acquire Documentary Stamp Tax(DST-BIR FORM 2000)
Step 5-Get the signed copies of the forms and file it at the Authorized Agent Bank (AAB) OR Municipal OR City Treasurers Office.
Step 6-At the BIR File for the Certificate Authorizing Registration (CAR). You will get a claim slip with the claim date. According to BIR Memorandum Order No. 15-03.BIR RDOs should release CARs for all One Time Transaction (ONETT) within five (5)days of submitting all required documents.
Step 7-Claim the CAR on the release date. Along with the CAR,the following documents will also be released, now stamped as received by the BIR
- Original Copy of the Deed of Absolute Sale,stamped as received by the BIR
- Owner’s Duplicate Copy of the TCT or the CCT
- Original copies of the BIR Form 1706 (CGT) and Form 2000 (DST),stamped as received by the BIR
- Copies of the Tax Declaration for land and improvement
Step 8-Pay the Transfer Taxes at the Local Treasurer’s Office
Step 9-At the Local Treasurer’s Office also secure the Tax Clearance by presenting the followingd documents
- Original and one Photocopy of the Deed of Absolute Sale
- Photocopy of the Tax Declaration
- Official Receipt of Payment of Real Property Tax and Special Education Fund Tax for the Current Year
Step 10-Head to the Registry of Deeds and present the following documents for the issuance of new land title,and the duplicate copy of the TCT and CCT in your name.
- BIR stamped as Received Deed of Absolute Sale-1 Original Copy,3 photocopies of the Sellers Owners Duplicate Copy of the TCT or CCT
- CARP-1 Original Copy
- Tax Clearance- 1 Original Copy
- Original Official Receipts Payments of CGT,DST,Tax Clearance Certificate,and Transfer Fee
- Original Copies of the Current Tax Declaration for land and improvement issued by the local assessor’s office
- If the seller or buyer is a corporation, sbumit the following requirements:
- Secretary’s Certificate authorizing the sale of the real property
- Certified True Copy of the Articles of Incorporation and By Laws of the seller or buyer corporation
Step 11:Once the title has been transferred to your name secure the new Tax Declaration at the Municipal or Provincial Assessor’s Office. Bring the following documents:
- Deed of Absolute Sale-1 photocopy
- TCT OR CCT-1 photocopy
- CAR-1 photocopy
- Transfer Tax Receipt- 1 photocopy
- Latest Tax Receipt OR Tax Clearance- 1 photocopy
- Conditional Requirement- some local assessors may require additional documents such as the Subdivision Plan,if the lot is subdivided, full-color photos of the house,lot,or condominium unit.