4 Steps In Transferring A Property Title In The Philippines
There are four easy steps to follow when transferring the title of the property you’re buying in the Philippines. Check them out below:
1. Go to the BIR and get a CAR. You need to obtain a Certificate Authorizing Registration from BIR by submitting the requirements and paying the Documentary Stamp Tax and Capital Gains Tax.
2. Proceed to the Treasurer’s Office. If you’re buying a property in your municipality, go to the Municipal Treasurer’s Office, or the City Treasurer’s Office if you’re buying a property in the city. Present your requirements including the CAR issued by the BIR, and then pay the Transfer Tax fee if there are no issues with the property you are buying.
3. Submit all requirements to the Registry of Deeds. The requirements include the original title of the property. After paying the registration fee, wait for a few months for the release of the new title under your name.
4. Update Tax Declaration. Once you have the new property title, go to the Assessor’s Office in order to change the Tax Declaration under your name.