Рет қаралды 6,304
Are you in the process of buying property from someone only to find out?
Wait, wait, wait...
It's still in the name of their parents, or worse, their grandparents!
Or are you trying to sell property that you inherited but the title is still in the name of your great grandfather?
Buying property plays such an important part in our day-to-day lives.
For some, it can mean fulfilling a lifelong dream to provide shelter for their family.
For some, it can be the next step, like starting a business where the possibilities are endless.
Many times it involves a relatively big investment on the part of the buyer,
which is why it's very important that the transaction is as risk-free as possible.
So what happens now if the property we are about to buy or sell in is in the name of someone who died long ago?
Is this a deal-breaker? Is there something fishy going on?
If not, how much additional effort is involved when dealing with this situation.
So our question for today comes from Bernadette...
And she writes,
"Attorney, my husband and I are finally ready to buy property for our young family. We found a house and lot which fits our needs and our budget.
But when we started talking to the sellers, we found out that the property is not in their name.
It's still in the name of their parents. This raised so many red flags for me (sayang.)
It's a shame because we really like the property. How difficult is this situation to solve? What should I look out for?"
If you or anyone in your family is in a similar situation as Bernadette, stay tuned!
Learn the next steps your family needs to take so you don't incur penalties and you can transfer the property properly.
Go to info.legalguide.ph/estate