Legal Question in Landlord & Tenant Law in Philippines
Prescription period on land registration
Hello i am new here and i just want to ask some questions. by the way im from philippines. 8 yrs. ago, my father and her sisters sold a parcel of land to some people in their province. they executed a deed of sale. but the buyers insisted that my father should shoulder the cost of transferring the titles to the buyers. there is no stipulation in the deed of sale. up to now, the land is not yet transferred to them and is still under the name of my father. My question is, is there a prescription period for registering the titles? If so, will the deed of sale still be a binding contract between the purchasers of the land and my father? In case the land is mortgaged or sold, does the purchasers still have a right over the land sold to them? Thank you and hoping enlightenment over the matter.
1 Answer from Attorneys
Re: Prescription period on land registration
There is no prescription on registration. However, you would be made liable to pay penalty taxes with the Bureau of Internal Revenue. As to the subsequent sale or mortgage of the same property, prior to your registration of the sale, please be advised that innocent parties who are buyers in good faith and for value are not to be prejudiced by your already existing un registered sale.
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