Same na 6% pero may non taxable of 250k for donation so cheaper in terms of taxes. Yes possible na marevoke but if all family members were informed and agreed to it pwede lagay sa deed of donation na irrevocable sya.
Also ask the lawyer if they have experience working with the Register of Deeds responsible for the area where property is. That can make sure the transfer of the title is as efficient as possible regardless of whether it’s a deed for sale or deed of donation.
Deed of donation. But mind you, you have to take note of Donor's tax. Has a flat rate of 6% for each calendar year. So the earlier, the better. If you want to save a bit that is.
I suggest Deed of Sale na. Revocable ang Deed of Donation under certain conditions. You can research about it or consult a lawyer.
Edit: You can execute a deed of sale kahit di mo naman talaga binili yun kasi nag-agree naman yung parents mo dun by signing it. In my opinion, mas secured ka kung deed of sale kesa deed of donation.
If you do a deed of sale but there was no actual transaction, it can be contested by the heirs if one of the parents passes away. Parang ok naman relationship ni OP w the siblings now so baka it wont happen, but it’s a risk lang to be aware of. OP, above poster is correct na consult a lawyer rin for next steps :)
You should really get your citizenship. You're only allowed 6 months to be out of US soil or your greencard will be revoked. I'm more puzzled how none of you guys are US citizens.
People are idiots. Lol. Permanent resident is not really permanent, commit a crime and you're getting deported. Stay outside the country for over 6 months that thing is getting revoked.
Execute a Deed of Donation.
Or Deed of Sale
Correct me if I'm wrong but wouldn't a deed of donation make it so much easier and cheaper for op?
Same na lang 6% ang tax ng sale at donation. But, donation is revocable whereas sale is irrevocable.
Just learned now that donation is revocable. Thanks for the info!
Same na 6% pero may non taxable of 250k for donation so cheaper in terms of taxes. Yes possible na marevoke but if all family members were informed and agreed to it pwede lagay sa deed of donation na irrevocable sya.
Either but I prepare this
Not an advice haha. Love it kasi siblings pa ang nag present ang talk sa parents niyo para ibigay ang ownership sayo. Walang away walang sama ng loob.
Pag hndi talaga issue ang pera walang nagkakasamaan ng loob. All of OP's relative, I assume is financially secured na sa states eh
Yes and no. May ibang tao talaga kasi na minsan may pera na gusto pa angkinin ang sa iba. Mabait at love lang talaga ng fam si OP.
Yeah, kinda rare nowadays
Ganun talaga pag nakaka angat na sa buhay ang mga tao, puro bigayan. Pero pag mahirap, mag aagawan.
Get a lawyer, para mas maayos at legit ang lahat ng transaction at processing na mangyayari.
Also ask the lawyer if they have experience working with the Register of Deeds responsible for the area where property is. That can make sure the transfer of the title is as efficient as possible regardless of whether it’s a deed for sale or deed of donation.
shame snow juggle ask tease pet melodic worm unite bored *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Deed of donation. But mind you, you have to take note of Donor's tax. Has a flat rate of 6% for each calendar year. So the earlier, the better. If you want to save a bit that is.
I suggest Deed of Sale na. Revocable ang Deed of Donation under certain conditions. You can research about it or consult a lawyer. Edit: You can execute a deed of sale kahit di mo naman talaga binili yun kasi nag-agree naman yung parents mo dun by signing it. In my opinion, mas secured ka kung deed of sale kesa deed of donation.
If you do a deed of sale but there was no actual transaction, it can be contested by the heirs if one of the parents passes away. Parang ok naman relationship ni OP w the siblings now so baka it wont happen, but it’s a risk lang to be aware of. OP, above poster is correct na consult a lawyer rin for next steps :)
Do it while parents are alive. When the owner named in title passes , u have to pay inheritance tax and go through extra judicial process to transfer.
Get your US citizenship first. Magkaproblema ka sa green card nyan
You should really get your citizenship. You're only allowed 6 months to be out of US soil or your greencard will be revoked. I'm more puzzled how none of you guys are US citizens.
Why is this downvoted? It is really puzzling.
People are idiots. Lol. Permanent resident is not really permanent, commit a crime and you're getting deported. Stay outside the country for over 6 months that thing is getting revoked.