If sweto mo ug yuta pls help me. Context: My parents are about to
My parents are about to give a down payment to a relative, Mrs. Z, for a land she is offering. The entire land is owned by Mrs. Z’s son, who recently sold a portion to her, and she offered half of it to my parents. I want to have some security for the money my parents have worked so hard for. I don’t trust her other relatives or her other children. Just a little security for the future won't hurt noh? I was thinking of preparing a written agreement and having it notarized, such as a document acknowledging receipt of payment, but I’m not sure exactly what to write or how this works. Can someone advise me on what to do?
If sweto mo ug yuta pls help me. Context: My parents are about to
My parents are about to give a down payment to a relative, Mrs. Z, for a land she is offering. The entire land is owned by Mrs. Z’s son, who recently sold a portion to her, and she offered half of it to my parents. I want to have some security for the money my parents have worked so hard for. I don’t trust her other relatives or her other children. Just a little security for the future won't hurt noh? I was thinking of preparing a written agreement and having it notarized, such as a document acknowledging receipt of payment, but I’m not sure exactly what to write or how this works. Can someone advise me on what to do?
Comments (6)
Have you considered consulting with a real estate lawyer? They can help draft a binding contract that protects your parents' interests, and it would include payment agreements and verification of property ownership.
This kind of thing happens a lot in the Philippines. Also, please ensure that you have all the tax settlements and other legal documents in order for the land parcel.
You should also conduct land title verification. This will confirm the land ownership, so the tax declaration won't be a problem. Also, consider having part of the payment deferred until the land is fully processed and documents finalized.
I know this might be an uphill battle, but you can always check with your local government’s office if the land is mortgaged, let or leased. And if the land is undeveloped, you can verify if there are any requests or plans for road construction or utility lines.
I think you're overthinking it. Just write a document that includes the description of the land, the amount paid, signatures of the seller and the buyer. Heck, even a YouTube tutorial can help you draft it.
If you want to confirm the ownership, also ask for the tax declaration and the location map which are usually required. It would be best if you can go to the municipal office for verification.
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