Transfer of Title

Housing

The legal process of moving property ownership from a seller to a buyer, resulting in a new land title in the buyer's name. In the Philippines it typically involves notarizing the deed of sale, paying taxes like capital gains or creditable withholding tax and documentary stamp tax to the BIR, settling transfer tax with the local government, and registering with the Registry of Deeds. A new tax declaration is then secured from the assessor's office. The process takes time and several fees. Requirements and taxes are subject to the latest rules/guidelines.

Related terms

Pag-IBIG Housing LoanRent-to-OwnCondo vs House-and-LotAmilyar (Real Property Tax)