RMC No. 76-2007: Prescribes the additional mandatory documentary requirements for one-time transactions involving transfers of real property

Key points

1. Seller’s official receipts. A photocopy of the seller’s official receipts is required to determine whether the sale is cash, deferred-payment (payments in the year of sale exceed 25% of the selling price) or installment (payments in the year of sale do not exceed 25%). The originals are presented to the BIR for authentication when the CAR application is processed. If the seller is not engaged in business, acknowledgement receipts or any proof of payment are presented instead.
2. Prior CAR. A certified true copy of the original CAR for the earlier transfer of the property, before the OCT/TCT/CCT now being sold was issued, or a Registry of Deeds certification giving the CAR serial number, issue date, issuing RDO number, signing RDO name, type of taxes paid and payment per tax type.
3. When the prior CAR document is needed. It is submitted for OCT/TCT/CCT issued starting 2007, when the Register of Deeds fails to annotate the CAR information.

Who is affected

• Parties to one-time transfers of real property

Deadlines and effectivity

• Prior CAR document for OCT/TCT/CCT issued starting 2007