Are you transferring property to a loved one? Or is a loved one transferring property to you? What is the best way to transfer property between relatives?
In the Philippines, it’s typical for parents to transfer properties to their children during their lifetime…Either as a gift, or an advanced inheritance. Sometimes they do this so that the properties are already transferred before the pass away.
Our question today comes from Ronald P., and she asks:
“My parents are old and they want to transfer their house and lot to me so that I won’t have any more problems when they die. What’s the best way for them to transfer the property to me? I heard from my friends that we can choose between a sale or a donation? Which is better?”
If you’re in a similar position as Amanda, stick around as we answer her question.
This video is brought to you by "Transferring Land in the Philippines", a mini-workshop that teaches Filipinos the basic modes of transferring lands and real properties in the Philippines. It provides the pros and cons of each mode, as well as the steps and procedures so that you eliminate your confusion and successfully navigate the whole process.
Transfer with confidence! Transfer without fixers!
Go to info.legalguide.ph/land to learn more.
Негізгі бет Contract of Sale vs. Deed of Donation. Which should you choose?
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