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Yes. A Special Power of Attorney (SPA) is merely a document establishing that the property owner authorizes an agent to sell his property.
Ownership remains with the owner, and all the rights, therefore, on the property remain with the owner. The agent, in a sale of property, is given the authority to carry out the selling of property.
An SPA is an instrument in writing by which one person, as principal, appoints another as his agent and confers upon him the authority to perform certain specified acts or kinds of acts on behalf of the principal with a primary purpose to evidence agent’s authority to third parties with whom the agent deals.
The SPA confers a contract of agency between the principal and the agent. Agency establishes a fiduciary relationship giving power to an agent to contract with a third person on behalf of the principal. Furthermore, having Agency gives the power to affect the principal’s contractual relations with third persons.
The requirement for the execution of an SPA is provided under Article 1878 of the New Civil Code:
ARTICLE 1878. Special powers of attorney are necessary in the following cases:
(1) To make such payments as are not usually considered as acts of administration;
(2) To effect novations which put an end to obligations already in existence at the time the agency was constituted;
(3) To compromise, to submit questions to arbitration, to renounce the right to appeal from a judgment, to waive objections to the venue of an action or to abandon a prescription already acquired;
(4) To waive any obligation gratuitously;
(5) To enter into any contract by which the ownership of an immovable is transmitted or acquired either gratuitously or for a valuable consideration;
(6) To make gifts, except customary ones for charity or those made to employees in the business managed by the agent;
(7) To loan or borrow money, unless the latter act be urgent and indispensable for the preservation of the things which are under administration;
(8) To lease any real property to another person for more than one year;
(9) To bind the principal to render some service without compensation;
(10) To bind the principal in a contract of partnership;
(11) To obligate the principal as a guarantor or surety; musawi
(12) To create or convey real rights over immovable property;
(13) To accept or repudiate an inheritance;
(14) To ratify or recognize obligations contracted before the agency;
(15) Any other act of strict dominion. (n)
When the principal executes an SPA in favor of an agent referring to the sale of a particular property, the buyer has every reason to rely on a person’s authority (the agent) to sell the particular property.
Need further information and assistance regarding Special Power of Attorney? Talk to our team at FILEDOCSPHIL to know more about the requirements and process. Call us today at (+632) 8478 5826 or send an email to info@filedocsphil.com for more information.
A Certificate of Title is the main evidence of ownership. It is thus important that a Certificate of Title be issued to the new owner after a transfer of a particular real property or real estate, either by means of a sale, inheritance, or donation.
What is the procedure in title transfer?
The general process of registration requires, among others, the presentation of the previous owner’s duplicate title, payment of fees and taxes (such as the Capital Gains Tax, Documentary Stamp Tax, and real estate tax), processing of electronic Certificate Authorizing Registration (eCAR), and cancellation and issuance of a new title bearing the new owner’s name.
How long is the process for a title transfer?
Title transfer is a very tedious and long process if you do it alone. It might take around five months, or longer, depending on the availability of your documents and other circumstances. You have to allot time and money in the preparation and processing of the necessary requirements from various agencies, the payment of various fees and taxes in different offices, and the submission of the complete documents with the Register of Deeds.
Getting assisted by an expert will surely save you time and money. Prevent the stress and hassle of tedious title transfer by letting FILEDOCSPHIL help you. CLICK HERE for a free quote.
In buying a property, be a wise purchaser by doing the following:
Ensure proper title verification done by experts here at FILEDOCSPHIL. CLICK HERE for a free quote.
A Tax Declaration shows the assessed and fair market values of the property which serves as the basis for the Real Property Tax.
I have bought a property with its title issued under my name. What should I do next?
After having the title of a property to your name, it is important that the Tax Declaration of the previous property owner must be cancelled and a new one be issued under your name.
FILEDOCSPHIL can help process your property’s Tax Declaration. CLICK HERE for a free quote.
In dividing the estate of the decedent between the heirs, an Extra Judicial Settlement (EJS) can be made without the need to go to the court. Section 1, Rule 74 of the Rules of Court provides that an extrajudicial settlement may be validly executed as long as all the four conditions are present:
What are the necessary steps I should keep in mind in an EJS?
In executing an EJS, the consent of all the heirs are needed. You must also notarize the EJS document. After the EJS notarization, it is necessary to process the Certificate Authorizing Registration (CAR) with the BIR and to pay the transfer taxes before proceeding to the Registry of Deeds to have the current title transferred under the name of the heirs.
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Real Property Tax (RPT) is imposed on any real property by the Local Government Units (LGUs).
What are examples of real properties?
Article 415 of the Civil Code enumerates what are considered as real property or immovable property:
When can I pay the Real Property Tax? Are there discounts offered?
RPT must be paid every year, on January 1st to be exact. Some LGUs provide dates when you can pay the RPT payment without interest. In fact, some LGUs/city halls even give a huge discount to incentivize early payments of the RPT. Depending on the city/municipality, the discount can be as high as 20%, depending on how early you pay the RPT.
What happens when I do not pay my Real Property Tax?
Not paying the RPT will risk the property being marked as delinquent and subject to levy and public auction.
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An annotation in the title is considered as a constructive notice to third persons that a property is subject to a lien or an encumbrance. Voluntary annotation or the removal thereof may be done by requesting the Registry of Deeds to record a certain transaction concerning the property.
What are the common annotations in title?
Common annotations: mortgage, lease, easements, and Section 4, Rule 74 (transfer by succession or Extrajudicial Settlement).
How do I remove annotations on the previous owner’s title?
If there are existing annotations during the transfer, such annotations are carried over on the new title issued to the owner. It will only be removed once the obligation concerning the property has been discharged, or once you have the complete requirements for its removal.
Let FILEDOCSPHIL process the voluntary annotation or cancellation of annotation on your title. CLICK HERE for a free quote.
A usufruct gives a person, the usufructuary, the right to enjoy the property that belongs to another. The usufructuary has the obligation to preserve said property (NCC Art. 562). Usufructs are created either (1) by law; (2) by will of private persons; or (3) by prescription (NCC Art. 563).
Do parents have usufructuary rights over their children’s property?
By law, parents have usufructuary rights over the child’s property. This ensures that parents who have transferred their property titles to their children can still have a place to stay and enjoy said property (FC Art. 226).
How can I enter into an usufruct with another person?
A usufruct can also be agreed upon voluntarily by will of private persons. It can be by way of a contract, donation, retention of the usufruct by the donor, last wills, etc.
Why do I need a usufructuary agreement?
A usufructuary agreement is needed to protect the rights of both parties and to prevent future disagreements concerning the property. FILEDOCSPHIL’s lawyers can create an agreement for you. CLICK HERE for a free quote.
A Petition for Reconstitution of Title restores the lost or destroyed title in the same form prior to the said loss/destruction. A proper proceeding for this petition must be filed before the Regional Trial Court (RTC). The RTC will order reconstitution as long as there are meritorious grounds.
You need the expertise of a lawyer in filing such a petition. Let FILEDOCSPHIL’s lawyers help you. CLICK HERE for a free quote.
Partition is done (1) by an agreement between parties; or (2) by judicial proceedings.
Does partition apply to any type of property ownership?
Partition only applies if the property is co-owned, thus it happens when:
What happens after a partition?
After the partition, it makes each co-owners the exclusive owner of their respective shares.
I am a co-owner of a property and I want to get my share. What should I do?
A co-owner can demand partition at any time, but only to the extent of his/her share.
Do I need a surveyor in partitioning my property?
Partition of parcels of land involves survey plans so that the current metes and bounds may be cut up and divided accordingly. A surveyor thus needs to be hired to properly divide the land.
You must get a lawyer in order to guide you in the partition of your property. Let FILEDOCSPHIL’s lawyers help you. CLICK HERE for a free quote.
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