Legal Question in Real Estate Law in Philippines

My father had a mortgaged property. The original mortgaged amount was only P200,000 however it ballooned because my father failed to pay on time. I was able to pay in trickles over the years and finally settled the remaining balance to a total amount of P600,000. For purposes of deduction to determine the net estate value, can I deduct the P600,000 or should it be P200,000?


Asked on 4/13/12, 7:10 am

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

You are a creditor of your father's estate. Thus, you can demand payment other than your share as one of the heirs.

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Answered on 4/21/12, 7:36 am


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