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Real estate guide The Guide to Real Estate Transactions in the Philippines Taxes Commission Registration Guide when Buying real Estate in the Philippines This is the standard sharing of expenses between the buyer and the seller when transferring the real

The Guide to Real Estate Transactions in the Philippines Taxes Commission Registration Guide when Buying real Estate in the Philippines This is the standard sharing of expenses between the buyer and the seller when transferring the real estate property title TCT - Transfer Certi ?cate of Title or CCT Condominium Certi ?cate of Title to a new owner The SELLER pays for the Capital Gains Tax equivalent to of the selling price on the Deed of Sale or the zonal value whichever is higher Withholding Tax if the seller is a corporation Unpaid real estate taxes due if any Agent Broker's commission The BUYER pays for the cost of Registration Documentary Stamp Tax - of the selling price or zonal value or fair market value which ever is higher Transfer Tax - of the selling price or zonal value or fair market value which ever is higher Registration Fee - of the selling price or zonal value or fair market value which ever is higher Incidental and miscellaneous expenses incurred during the registration process The above sharing of expenses is the standard practice in the Philippines However buyers and sellers can mutually agree on other terms as long as it is done during the negotiation period before the signing of the Deed of Sale The Deed of Sale or Deed of Absolute Sale is the document showing legal transfer of real estate property ownership The deed of sale is then taken to the Registry of Deeds to be o ?cially recorded after paying the documentary stamp transfer tax and registration fees Always verify from the Registry of Deeds the authenticity of a Transfer Certi ?cate of Title before buying a property If the seller only has a tax declaration be extra cautious and check with neighbours the Barangay captain or anyone in the know in the community to verify the seller owner's true identity and the property's history CYour Agent Broker will usually do the registration process sometimes for a fee However all government taxes transfer fees and incidental or miscellaneous expenses will be shouldered by the buyer Documents needed when transferring the title TCT or CCT to the new owner Certi ?ed true copy of the title Notarized copies of the Deed of Sale Latest tax declaration of the property Certi ?cate from the Bureau of Internal Revenue that the capital gains tax and documentary stamps have been paid Receipt of payment of the transfer tax and registration fees An adapted form of the Torrens system of land registration is used in the Philippines The system was adapted to assure a buyer that if he buys a land covered by an Original Certi ?cate of Title OCT or the Transfer Certi ?cate of Title TCT issued by the Registry of Deeds the same will be absolute indefeasible and imprescriptible C