How To Compute For Registration Fees (Registry of Deeds)

In purchasing a property, there are “hidden charges” which a buyer needs to be aware of. One of this is Registration Fees. In this post, I will discuss how one can compute for registration fees and more.

What are registration fees?

Registration Fees are paid for the registration of:

A deed of sale, conveyance, transfer, exchange, partition, or donation; 카지노사이트
A deed of sale with pacto de retro, conditional sale, sheriff’s sale at public auction, sale for nonpayment of taxes, or any sale subject to redemption, or the repurchase or redemption of the property so sold;
Any instrument, order, judgement or decree divesting the title of the registered owner, except in favor of a trustee, executor, administrator, or receiver;
Option to purchase or promise to sell;
Any mortgage, surety, bond, lease, easement, right-of-way, or other real right or lien created or constituted by virtue of a district contract or agreement, and not as an incidental condition of sale, transfer or conveyance; and
The assignment, enlargement, extension or novation of mortgage or of any other real right, or release or mortgage, termination of lease, or consolidation of ownership over a property sold with pacto de retro.

Other Taxes and fees to consider
Usually, only the Capital Gains Tax (CGT) or Creditable Withholding Tax (CWT) are for the account of the seller (whichever is applicable). 안전한카지노사이트

You also need to check if Value Added Tax (VAT) is applicable.

The Documentary Stamps Tax (DST) on the sale of real property, Transfer Tax, registration fees, Information Technology (I.T.) fees, and all other expenses required to transfer the property from the name of the seller to the buyer are for the account of the buyer.

In order to avoid surprises, I suggest that you request for a computation of the expenses which are for the buyer’s account from your real estate broker (if you have one), or from the seller, including registration fees.

Where to pay
Registration fees are paid to the Register of Deeds or Land Registration Authority (LRA) where the real property is located. 카지노사이트 추천

When to pay

This is paid after the taxes on the sale of the property have been paid and the Certificate Authorizing Registration (CAR) and Tax Clearance (TCL) has been secured from the Bureau of Internal Revenue.

Take note that a CAR and TCL, once issued, should be presented to the Register of Deeds within two (2) years from issuance, otherwise it shall be deemed to have no effect and you will need to request for the issuance of a new CAR, following the requirements of Revenue Memorandum Order (RMO) No. 23-2010 dated March 15, 2010.

How to compute for the registration fee

To compute for the registration fee, you may refer to the registration fee table below, if the selling price does not exceed P1,700.00.00

If the selling price exceeds P1,700,000.00, You need to add P90 for every P20,000.00 or fraction thereof; In excess of P1,700,000.00, in addition to the fee of 8,796.00.

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