Realty Bytes

The Bank of the Philippine Islands (BPI) branch at the Philippine Stock Exchange in Ortigas, Pasig City kindly provided me with the list of requirements on how to claim the funds of a depositor who has passed away. Please note that copies of all the listed documents must be submitted to BPI, so, make sure you have xeroxed copies of the originals when you visit the bank.

I am currently working on two property transfers: one through a Deed of Donation, while the other is through an Extrajudicial Settlement. Which one would I recommend to an inquiring client? Undoubtedly, my answer would be through a Deed of Donation. And there are two excellent reasons why: Zonal Value vs. Market Value The basis for the computation of the donation tax to be imposed by the BIR will be based on the zonal value of the property, unlike, estate taxes, which are computed using the current fair market value of the property listed in the extrajudicial settlement. In general, zonal values are always lower than market values, hence, lower taxes.

Despite the implementation of the new operating hours of Pasig City Hall to 9am-6pm, the Registry of Deeds of Pasig retains the same hours of 8am-5pm . A notice within the Register of Deeds explains why. In as much as the RD Pasig supports the City of Pasig's main thrust to alleviate the burden of the transacting public and the latter's employees, caused by traffic woes, by utilizing the flexible working hours, this registry cannot do the same, as its attendance and working module are strictly governed by LRA's synchronized computerization scheme. (Personally, I have never tried to see whether the security officers will allow entry into Pasig City Hall between 8-9am. I usually arrive after 9am to be sure.)

Registry of Deeds Antipolo City

Registry of Deeds Antipolo City

Secret Destination  The biggest advantage of Uber over Grab is the fact that its drivers are assigned to riders without knowing their destination. This becomes essential when you need to go to an unpopular drop off point such as the BIR RDO 45 in Marikina or Alabang. Since Grab drivers know beforehand where you're going, they will most likely not accept the ride, leaving you stranded. On the other hand, Uber is more service oriented in the sense that it will assign a driver to you as long as the destination is within its service area.

BIR RDO 45 Marikina and Antipolo

The popular answer to the question as to how many islands there are in the Philippines is 7,107 islands . However, the National Mapping and Resource Information Authority (NAMRIA) has reported that there has been an increase in the actual number of islands from 7,107 to 7,641 islands. According to  CNN Philippines : T hree reasons were likely behind the discovery: Old technology probably was unable to detect the land masses It could be due to changing land forms The improved detection of islands through the use of high-resolution data Although this was reported a year ago in February 2016, the corrected number of 7,641 islands still has to be ingrained in the national consciousness.

Bureau of Internal Revenue RDO 38 North Quezon City at  112 West Ave., Quezon City

Security Bank Ali Mall

All Certified Real Estate Tax Clearances end on December 31 of the year it was released . For example, you got a Certified Real Estate Tax Clearance on January 1, 2016 (I know it's a holiday but let's just use it for the illustration). Its validity will end on December 31, 2016. What if you got it on October 1, 2016? The validity will still end on December 31, 2016 even though it was issued at a later date.

LRT 2 Construction near SM Masinag

Vacant lot in Quezon City

 Barangay Socorro Cubao Quezon City

Ayala Malls The 30th on MERALCO Ave. Pasig

It is customary for a bank to freeze a depositor's account once the bank officials learn of the depositor's death. This can become a great burden for the family since the funds cannot be withdrawn until certain documentary requirements are met. (And a very good reason to open an ATM account with a co-depositor you trust.) In the event that a Banco de Oro account is frozen due to the death of the depositor, the following are the mandatory documents before the heirs can withdraw from the deceased's BDO account:

Bureau of Internal Revenue RDO 28 Novaliches at 112 West Ave., Quezon City

Courtesy of  Wayne Cummings

While waiting at the Registry of Deeds of Pasig, I was approached by a woman. She wanted to know where to get the tax declaration. I wrote Assessor's Office on her sheet of paper and pointed out where she needed to go, which wasn't very far, because the Pasig City Hall administration has conveniently located both the Registry of Deeds and Assessor's Office on the second floor.

Landbank Ortigas branch

Philhealth Pasig at  MERALCO Ave.

The Pasig City Treasurer offers a 10% discount for real estate tax or amilyar paid within the first quarter of the year. For 2017, the deadline is March 31, Friday. For all condominium units, townhouses and houses located within Barangay San Antonio, the ONLY payment center is at the Pasig Revenue Office I in the Barangay San Antonio Annex. This revenue office has been tasked with the collection of real estate taxes of Barangay San Antonio. The Pasig City Hall does NOT accept property tax payments for Barangay San Antonio. Pasig Revenue Office I Barangay San Antonio Annex

The answer? Assessor's Office How to get the tax declaration: Fill out the application for the tax declaration (Pasig Assessor's Office on the second floor) Give the application and copy of the title, or previous tax declaration. (Pasig Assessor's Office on the second floor)

Pasig Revenue Office I Barangay San Antonio Annex

On 20 January 2017, I passed by BIR RDO 43 B  (within the Pasig City Hall compound) and a notice was made available to the public via leaflets: Please be informed that effective February 1, 2017 , RDO No. 43 A East Pasig and RDO No. 43 B West Pasig City will be consolidated/merged as one (1) Revenue District Office renamed as RDO 43 - Pasig City pursuant to Revenue Administrative Order No. 2-2016 dated June 23, 2016.