16/05/2025
✅ Ano ito - “PASALO” house and lot with ASSUME PAYMENT of existing Pag-IBIG loan (TAO-TAO not thru Pag-IBIG): Dahil lamang ang may alam.
Disclaimer: we dont process Pasalo, this post is just an informational post for public awareness.
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“PASALO” house and lot with ASSUME PAYMENT of existing Pag-IBIG loan (TAO-TAO not thru Pag-IBIG): Dahil lamang ang may alam.
Disclaimer: we dont process Pasalo, this post is just an informational post for public awareness.
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✅ Ano ito
Pasalo = informally ipapasa ng original borrower (seller) ang property with loan sa new buyer (sasalong magbayad monthly).
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📌REQUIREMENTS (tao-tao, not thru Pag-IBIG)
From Seller:
• Original Contract to Sell / Loan Agreement
• Valid IDs
• Pag-IBIG account details
• Payment history
• Authorization Letter or Acknowledgment Receipt
• Special Power of Attorney (SPA) (if seller is abroad)
From Buyer:
• Valid IDs
• Signed agreement with seller
• Cash for any past due, penalties, or cash-out
Joint Docs:
• Deed of Assignment / Transfer of Rights (notarized)
• Assumption Agreement (notarized)
• Affidavit of Undertaking (to pay Pag-IBIG monthly in seller’s behalf)
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📝PROSESO
1. Agree on terms – cash-out, who pays arrears, etc.
2. Notarize documents – assignment, assumption, affidavit.
3. Buyer pays monthly – directly to Pag-IBIG under seller’s name.
4. Seller issues receipts or written acknowledgment.
5. Secure proof of payments – always keep Pag-IBIG receipts.
6. Optional: Register “Transfer of Rights” with Barangay or HOA (if allowed).
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⚠️IMPORTANT: LEGALLY BAWAL SA PAG-IBIG
Pag-IBIG does not allow unofficial “pasalo” or assumption of loan without formal application. It’s risky because:
• Loan remains under seller’s name
• Pag-IBIG can cancel the loan if violations arise
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✅ PROTEKSYON SA BUYER
• Have notarized documents (Transfer of Rights, Affidavit of Assumption)
• Keep all Pag-IBIG receipts
• Ask seller for SPA authorizing you to transact with Pag-IBIG
• Optional: Put caveat/notice on title with lawyer
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✅ PROTEKSYON SA SELLER
• Clear written and notarized assumption agreement
• Stated that buyer will continue paying monthly on their behalf
• Buyer waives right to refund if they default
• Optional: Require collateral or postdated checks
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❗POSSIBLE ISSUE AFTER 30 YEARS (or end of the loan term)
If after 30 years (or end of the loan term) the buyer finishes the loan but the title is still under seller’s name and seller is missing or deceased:
• Buyer cannot transfer the title easily
• Must go through court or heirs of seller
• Notarized Deed of Assignment helps, but may still need court intervention
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⚠️ CONS
• No title transfer until full payment + seller cooperation
• Buyer bears risk if seller becomes unreachable
• Seller still legally liable for Pag-IBIG loan
• Harder to resell without title
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✅ PROS
• Lower cash-out
• Easy to start living in the unit
• Option for those who can’t yet qualify directly at Pag-IBIG
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🔒 BEST PRACTICE
It is advisable and If possible, convert to formal Pag-IBIG loan assumption. Let the buyer apply with the developer or directly with Pag-IBIG to assume and transfer ownership legally.
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It is me,
Broker Cielo Pagcaliwagan
Licensed Real Estate Broker
REB PRC 0020173
DHSUD 00795
