Case Study - Paraphernal Property

CASE STUDY :

A property inherited by several siblings about a decade ago is now for sale. Two of the siblings are in their 60s and married while two are single. One of married sibling is now divorced. Three live abroad while one lives locally. The Title was transferred to the siblings ( Heirs ) name including their spouses about 8 years ago.

Since this Estate went thru an Extra Judicial Settlement amongst the Heirs, an Annotation : Sec. 4, Rule 74 was placed on the Title and it is prudent to have this cancelled after two years from inscription date. In this case, the Annotation has been cancelled, thus the Title is clear of any liens and encumbrances ( Clean Title ).

Question : Do the spouses of the Heirs need to sign in the Deed of Absolute Sale ? Are the spouses of the Heirs required to have a Special Power of Attorney consularized in the Philippine Embassy where they live.

Answer : The signatures of the spouses are not needed in Deed of Absolute Sale as the property is considered a "Paraphernal Property". The spouses do not have any right over a property inherited by Heirs. Therefore, there is also no need for a Special Power of Attorney for the spouses. The Heirs living abroad do need a Consularized Special Power of Attorney from the Philippine Embassy to validate the sale. 

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robert

Robert G. Sarmiento Properties

Professional Affiliation :

Philippine Association of Real Estate Boards

Member, City of Taguig Real Estate Board 2016, 2017

Real Estate Broker’s Association of the Philippines 2000 - 2015

President, Greenhills Chapter 2008, 2009

Philippine Association of Real Estate Boards

San Juan Mandaluyong Chapter 1998, 1999

PRC # 6569

PRC Lecturer’s License # 0294

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robert
Robert G. Sarmiento Properties

Professional Affiliation :

Philippine Association of Real Estate Boards

Member, City of Taguig Real Estate Board 2016, 2017

Real Estate Broker’s Association of the Philippines

President, Greenhills Chapter 2008, 2009

Philippine Association of Real Estate Boards 2000-2015

San Juan Mandaluyong Chapter 1998, 1999

PRC # 6569

Lecturer’s License # 0294

02 5148481 ( direct line )

+ 632 5536051 ( trunkline )

+ 632 4781316 ( telefax )

+ 632 8561365 ( line 3 )

+ 632 8041701 ( line 4 )

+ 63 917 5364829 ( globe )

Email : roberts@surfshop.net.ph

Website : 
www.robertgsarmiento.com

Website: http://condosphil.wordpress.com

Website: www.philippinecommercialproperties.com

Website: http://philippinewarehouses.wordpress.com

Website: http://philippineoffices.wordpress.com

Website: http://philippinetownhouse.wordpress.com
 

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