Legal Question in Real Estate Law in Philippines
We have 3 lots that we are trying to sell in the Philippines, We authorized our cousin in the to sell this lots through a power of Attorney sign by us and notarized by a Philippines consolate (Red Ribbon). my cousin said that we have to make a separate POA for each lot to be able to sell it, Is this the case? i don't understand why we need to do this or do we have to ? she has a buyer for one of the lot. She is saying BIR will think we sold the 3 lots that is why we need to make it separate. I say why not include a copy Deed of Sale since it will be notarized in the Philippines and just give BIR a copy of the Notarized (Red Ribbon) POA and keep the original to be use for the other 2 lots. What do you suggest we do or what do we need to do or need to sell this lot?
Thanks
Riz mikesell
1 Answer from Attorneys
A single SPA will do provided the acts to be done on your behalf involving the subject properties are specifically stated.
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