The proper and complete process of Title Transfer
Preparation
Prepare the necessary documents for execution of Deed of Sale:
Deed of Absolute Sale (or other variants, as appropriate in your case)
Acknowledgment of Payment (from buyer to seller)
Affidavit of non-tenancy and/or no pending case (as appropriate)
Affidavit of land holdings by the buyer (as applicable)
Signing of documents.
Both parties should sign the following:Acknowledgment Receipt of Payment by the buyer to seller
Affidavit of non-tenancy and/or no pending case
Affidavit of land holdings
Secure the following documents to be needed later:
2 government-issued ID’s of both the seller and the buyer
Tax Identification Number (TIN) of each party
Original Owner’s duplicate of Title
Marriage contract, if applicable
Previous Certificate Authorizing Registration (CAR)
Tax declaration
Receipt(s) of Real Property Tax (RPT) payments
Special Power of Attorney (SPA), if dealing with an attorney-in-fact (an authorized representative)
Notarization of documents
All documents signed by the parties should be notarized.
Secure Payment Computations and Certified Copies of the Following Documents
Bureau of Internal Revenue (BIR)
Secure computation of fees for Documentary Stamp Tax (DST) and for
Capital Gains Tax (CGT)
City (or Municipal) Treasurer’s Office
Secure computation of Transfer Tax
Secure Tax Clearance
City (or Municipal) Assessor’s Office
Secure Certified True Copy of the Tax Declaration
Registry of Deeds
Secure computation of Registration Fee
Secure Certified True Copy of the existing Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT), as appropriate
Preparation of Payments
Now that you know the exact fees that you will have to pay, you should prepare these amounts. These fees are preferably paid using manager’s checks. But you can also pay them in cash.
Take note of the following deadlines for the settlement of these fees.
BIR
CGT – 30 days after the date of notarization of the Deed of Sale
DST – 5th day of the following month from notarization of the Deed of Sale
City Treasurer’s Office
Transfer Tax – 60 days from date of execution of Deed of Sale or the Acknowledgment of Payment
Registry of Deeds
Registration Fee – 1 year from the date of release of CAR from BIR + 6 months extension if approved by BIR upon due submission of request
Process Payments to BIR
Present the following requirements to ONETT to obtain the official Computation Sheet:
Certified True Copy of the Title (TCT or CCT)
Certified True Copy of the Tax Declaration
IDs of the buyer(s) and the seller(s)
TIN of the buyer(s) and the seller(s)
Filled-out online DST & CGT BIR Forms
Deed of Sale
Acknowledgment of Payment
Pay the DST & CGT at the Accredited Agent Bank (AAB) of the BIR-RDO (Revenue District Office)
Fill out the bank form for the BIR payments
Present the verified DST & CGT BIR returns together with the MCs (or cash payment) and the bank form
Don’t forget the transaction slip
Then go back to BIR to file the above listed documents together with the transaction slip for the processing of the new CAR
Process payment to the City Treasurer
Present the following requirements to the Officer in Charge (OIC):
Deed of Sale
IDs of the buyer(s) and the Seller(s)
Submit manager’s check or cash payment to the designated cashier.
Bring the receipt to the OIC together with the above mentioned documents to process the Transfer Tax Clearance.
Process Payment to the Registry of Deeds
Fill out an application form for transfer of Title and present the following requirements to the Examiner of the Day:
CAR from the BIR
Deed of Sale
Transfer Tax Clearance
Submit the manager’s check or cash payment to the cashier for the registration. Then attach the receipt to the application form together with the documents stated above.
Follow up with the Registry of Deeds
Contact the assigned examiner for the progress of your application for new Title.
Once the new title has been released, file a copy with the City Assessors’ Office.
New Tax Declaration
Finally, when the new Title under the buyer’s name is already released, present it to the Assessors’ Office for the issuance of the new Tax Declaration.