Real estate

Your Family Files (3): Real Estate Papers

We’ve talked about important family files that you should organize and keep. So far, we’ve dealt with birth certificates and other civil registry papers, as well as passports and travel documents.

Land titles and deeds

Now we come to land titles, condominium certificates and similar papers proving that you own a house, lot, condo unit or other real estate. The proper government agency issues these to property owners. In the Philippines, this is the Office of the Register of Deeds The Register of Deeds gives property owners the “owner’s duplicates,” because the originals are kept in his office.

Along with this, you should include the deed of sale or document of conveyance. This is the document through which you became owner of the property.

Tax declarations and payments

Tax declarations are issued by the local government unit that has jurisdiction over your house and lot, or condominium unit. These contain the assessed value of the property on which annual real property taxes are based.

Keep these tax declarations together with the official receipts showing payment of real property taxes. There may be other terminologies for these in different countries and states. All these support your ownership of the property, so you must keep them safe.

If there are transactions involving your property such as a lease, mortgage or donation, include these in your real estate files.

To help you organize, here’s a checklist:

  • TItles or proofs of ownership of houses and lots
  • Titles or proofs of ownership of condominium units
  • Official receipts as proof of payment of real estate taxes
  • Lease contracts
  • Mortgage contracts
  • Deeds of donation
  • Others

In my next post, I will talk about financial documents.

* This post is based on my free ebook, YOUR FAMILY FILES. This free ebook shows you how you can keep your most important personal and legal documents safe yet easy to find. It’s a good step for your peace of mind. Click here to get it now.

Posted in Family files, Properties, Real estate.

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