30.8.10

One Case Scenario between Realty Tax (Amilyar) and Cert of Registration

Here is a newbie, named Lisa, who has her story to tell. She bought a property, house and lot (second owner) directly from the seller (the previous owner of said property) and she hired a broker to do the whole process of registration and transfer of title. And the final output/deliverables of the broker is she was given the original copy of owner's duplicate copy of title (which is under her name now) and the original copy of tax declaration. Are these all the documents needed from the broker?

Pag nagbayad na ako ng amilyar next tax season, anong mga documents ang kailangan kong i-present para magbayad ng real estate tax dun sa na-acquire kong house & lot na for the first time under na sa pangalan ko? Kailangan ko pa bang i-present yung mga documents na na-produce ng broker ko (original copy of owner's duplicate copy of title at original copy of tax declaration) at yung mga previous tax receipts ng dating may ari?

Shela: you only need to present a photocopy of the official receipt of the realty tax paid from the previous year. You can also bring a photocopy of your tax declaration. Sometimes just the tax declaration number will do.

Sally interfered: How about BIR clearance? Normally, there is a capital gains tax (to be paid by seller) para ma transfer sa name ng buyer ang titulo. Mas maganda may copy ka nito kasi baka magkaproblema ka later on sa BIR.

Lisa: Salamat din Sally sa response. Pero di ba, the fact na may title na ang buyer sa pangalan nya at may bagong tax declaration, wala nang issue ang tax clearance? Di ba yung BIR/tax clearance naman ang isa sa mga dokumento na kailangan para ma-continue ang registration process at transfer ng title sa pangalan ng buyer? The fact na tapos na yung buong proseso, kakailanganin pa ba yun?

Sally replied: May kaibigan kasi ako ganyan naging problema kasi the transaction was done this way - sa RD (Register of Deeds) bago ilipat ang title, required ang BIR clearance. Meron naman kaso fake pala. That time di alam na fake kaya nalipat ang title sa new buyer.

Suddenly the new buyer decided to sell again the property. This time, nang kukuha siya ng BIR clearance, hinabol siya ng BIR sa unang transaction (kasi nga fake yung una kaya walang record sa BIR ng payment). So, ngayon malaking problema na kasi hindi niya mabenta nang maayos ang property sa bagong buyer hanggat hindi naayos ang taxes. maraming milagro dito sa atin. Ang kawawa lagi yung owner (old or new).

Lisa: Ibig sabihin, kahit nagbabayad na ng amilyar ang new owner ng isang property, hindi pa rin natre-trace ng BIR o ng assesor sa munisipyo na fake o may problema ang tax clearance nung i-transfer ang title sa new owner para naman pwede nilang masingil agad at nang hindi na umabot pa kung kailan ibebenta ulit ng new owner ang property? Wala bang nangyayaring checking ng tax records taun-taon? Paano kung hindi naman ibenta yung property. Ibig sabihin, pwede makalusot ang fake tax clearance lalo pa't yung title ay nasa pangalan na ng bagong owner?

Shela: This two women misunderstood each other.

While Lisa was referring to the real property tax certification sometime refers to tax payment clearance certificate. This is the certification you get from the municipal or city treasurer’s office to serve as a proof for tax payment up to the date of which it was issued. You only need this when buying or selling a property & it's not a prerequisite when paying for the real property tax (amilyar)
On the other hand, Sally was referring to the CAR, Certification Authorizing Registration or BIR form 1952 if I am not mistaken. This Certificate will be issued by the BIR when payment for the capital gains tax and document stamp are paid. This is done when a sale has been completed. It's a requirement when transferring TCT of a property.

He is right however that a CAR issued by BIR can be a fake especially those processed by fixers. To prevent future headaches & unnecessary expenses you can have your CAR verified from the issuing BIR office.

A fake or undervalued CAR can incur charges and penalties which will be compounded monthly from the date for which it was suppose to be paid.
My best advice is ensure that every document you received be verified/authenticated by the issuing office/agency.

25.8.10

Healthy Habits to Live 100

I am reposting this article from a magazine I came across recently to constantly remind my husband that aging is not determine mostly by our genes. Well my dear, let me say to you again - the biggest factor that determines how well you age is not your genes but how well you live. Not convinced? A new study published in the British Medical Journal of 20,000 British folks shows that you can cut your risk of having a stroke in half by doing the following four things: being active for 30 minutes a day, eating five daily servings of fruit and vegetables, and avoiding cigarettes and excess alcohol.

While those are some of the obvious steps you can take to age well, researchers have discovered that centenarians tend to share certain traits in how they eat, move about, and deal with stress—the sorts of things we can emulate to improve our own aging process. Of course, getting to age 100 is enormously more likely if your parents did. Still, Thomas Perls, who studies the century-plus set at Boston University School of Medicine, believes that assuming you've sidestepped genes for truly fatal diseases like Huntington's, "there's nothing stopping you from living independently well into your 90s." Heck, if your parents and grandparents were heavy smokers, they might have died prematurely without ever reaching their true potential lifespan, so go ahead and shoot for those triple digits. Follow these 10 habits, and check out Perls' lifetime risk calculator to see how long you can expect to live.

1. Don't retire. "Evidence shows that in societies where people stop working abruptly, the incidence of obesity and chronic disease skyrockets after retirement," says Luigi Ferrucci, director of the Baltimore Longitudinal Study of Aging. The Chianti region of Italy, which has a high percentage of centenarians, has a different take on leisure time. "After people retire from their jobs, they spend most of the day working on their little farm, cultivating grapes or vegetables," he says. "They're never really inactive." Farming isn't for you? Volunteer as a docent at your local art museum or join the Experience Corps, a program offered in 19 cities that places senior volunteers in urban public elementary schools for about 15 hours a week. One thing I observed from husband since he retired from the military, his posture had dramatically change, had soft body with a big belly.

2. Floss every day. That may help keep your arteries healthy. A 2008 New York University study showed that daily flossing reduced the amount of gum-disease-causing bacteria in the mouth. This bacteria is thought to enter the bloodstream and trigger inflammation in the arteries, a major risk factor for heart disease. Other research has shown that those who have high amounts of bacteria in their mouth are more likely to have thickening in their arteries, another sign of heart disease. "I really do think people should floss twice a day to get the biggest life expectancy benefits," stresses Perls.

3. Move around. "Exercise is the only real fountain of youth that exists," says Jay Olshansky, a professor of medicine and aging researcher at the University of Illinois at Chicago. "It's like the oil and lube job for your car. You don't have to do it, but your car will definitely run better." Study after study has documented the benefits of exercise to improve your mood, mental acuity, balance, muscle mass, and bones. "And the benefits kick in immediately after your first workout," Olshansky adds. Don't worry if you're not a gym rat. Those who see the biggest payoffs are the ones who go from doing nothing to simply walking around the neighborhood or local mall for about 30 minutes a day. Building muscle with resistance training is also ideal, but yoga classes can give you similar strength-training effects if you're not into weight lifting.

4. Eat a fiber-rich cereal for breakfast. Getting a serving of whole-grains, especially in the morning, appears to help older folks maintain stable blood sugar levels throughout the day, according to a recent study conducted by Ferrucci and his colleagues. "Those who do this have a lower incidence of diabetes, a known accelerator of aging," he says

5. Get at least six hours of shut-eye. Instead of skimping on sleep to add more hours to your day, get more to add years to your life. "Sleep is one of the most important functions that our body uses to regulate and heal cells," says Ferrucci. "We've calculated that the minimum amount of sleep that older people need to get those healing REM phases is about six hours." Those who reach the century mark make sleep a top priority.

6. Consume whole foods, not supplements. Strong evidence suggests that people who have high blood levels of certain nutrients—selenium, beta-carotene, vitamins C and E—age much better and have a slower rate of cognitive decline. Unfortunately, there's no evidence that taking pills with these nutrients provides those antiaging benefits. "There are more than 200 different carotenoids and 200 different flavonoids in a single tomato," points out Ferrucci, "and these chemicals can all have complex interactions that foster health beyond the single nutrients we know about like lycopene or vitamin C." Avoid nutrient-lacking white foods (breads, flour, sugar) and go for all those colorful fruits and vegetables and dark whole-grain breads and cereals with their host of hidden nutrients.

7. Be less neurotic. It may work for Woody Allen, who infuses his worries with a healthy dose of humor, but the rest of us neurotics may want to find a new way to deal with stress. "We have a new study coming out that shows that centenarians tend not to internalize things or dwell on their troubles," says Perls. "They are great at rolling with the punches." If this inborn trait is hard to overcome, find better ways to manage when you're stressed: Yoga, exercise, meditation, tai chi, or just deep breathing for a few moments are all good. Ruminating, eating chips in front of the TV, binge drinking? Bad, very bad.

8. Live like a Seventh Day Adventist . Americans who define themselves as Seventh Day Adventists have an average life expectancy of 89, about a decade longer than the average American. One of the basic tenets of the religion is that it's important to cherish the body that's on loan from God, which means no smoking, alcohol abuse, or overindulging in sweets. Followers typically stick to a vegetarian diet based on fruits, vegetables, beans, and nuts, and get plenty of exercise. They're also very focused on family and community.

9. Be a creature of habit. Centenarians tend to live by strict routines, says Olshansky, eating the same kind of diet and doing the same kinds of activities their whole lives. Going to bed and waking up at the same time each day is another good habit to keep your body in the steady equilibrium that can be easily disrupted as you get on in years. "Your physiology becomes frailer when you get older," explains Ferrucci, "and it's harder for your body to bounce back if you, say, miss a few hours of sleep one night or drink too much alcohol." This can weaken immune defenses, leaving you more susceptible to circulating flu viruses or bacterial infections.

10. Stay connected. Having regular social contacts with friends and loved ones is key to avoiding depression, which can lead to premature death, something that's particularly prevalent in elderly widows and widowers. Some psychologists even think that one of the biggest benefits elderly folks get from exercise the strong social interactions that come from walking with a buddy or taking a group exercise class. Having a daily connection with a close friend or family member gives older folks the added benefit of having someone watch their back. "They'll tell you if they think your memory is going or if you seem more withdrawn," says Perls, "and they might push you to see a doctor before you recognize that you need to see one yourself."

excerpt from: usnews.com