Your Guide to Hassle-Free Land Title Transfer

Common Ways of Transferring Land Title Ownership in the Philippines

1. Sale. It involves the exchange of property for a specified amount of money or other valuable consideration. This transaction typically involves a buyer and a seller who negotiate the terms of the sale, including the purchase price, payment terms, and transfer of ownership. The buyer will need to pay the necessary transfer taxes and fees.
2. Donation. It is a voluntary transfer of property without the expectation of monetary compensation. Donations can be made for various reasons, such as charitable purposes or as gifts to family members.
3. Partition. It refers to the division of jointly owned property among co-owners. This method is commonly used when multiple individuals hold a shared interest in a property and wish to divide the ownership rights.
4. Extrajudicial Settlement. It is a process used to settle the estate if a decedent left no will without the need to go to court. This process typically involves the heirs coming to an agreement on how the deceased person’s assets and properties in any location will be distributed among them. All the heirs are entitled to participate however, if any of the heirs are unable or unwilling to participate in the extrajudicial settlement, they may need to formally waive their right to the estate. And if there is only a sole heir, an Affidavit of Self-adjudication of the whole estate will be filed.