Transfer of Ownership process:
- Submit the notarized Deed of Absolute Sale to the Bureau of Internal Revenue (BIR) for the computation of Capital Gains Tax or Withholding Tax and Documentary Tax.
- After the BIR is done of the computation of the amount needed to be paid, you’ll pay the amount at an accredited bank of BIR.
- Submit the deposit slip to BIR and wait for the Certificate of Authority to Register (CAR).
- Pay Transfer Fees at the City Treasurer
- Pay Registration Fees at the Registry of Deeds to have the Transfer of Ownership officially recorded
- After the Transfer Fees and Registration Fees are paid, Registry of Deeds will issue a new Title with the buyer’s name as the owner of the property.