28/07/2023
Property for Sale: "CLEAN TITLE NA PO"
BEWARE!
What to check as Buyer?
π Are all owners still alive and with the capacity to sign?
If one of the owners is already dead, know if its under Conjugal Partnership of Gains or Absolute Community of Property (see Family Civil Code)
πAre estate tax paid? (In case one of the owners died already). Yes po. Pag namatay po tayo, may babayaran pa na tax bago malipat sa heirs ang property. May penalty po eto pag hindi nasettle.
πIs the certified true copy of the title same with the Original? There might be lien or encumbrances in the CTC which cannot be seen in the Original title. Thus request for the latest CTC.
πAre the property taxes (amilyar) updated? Ask for Tax Clearance.
πAre all monthly dues updated? (In case the property is inside subdivision under HOA)
πAre all utility bills (water and electric) been settled?
Due diligence is a MUST! After verification and payment, transfer of title naman.
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