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RMO No. 38-2016 Revocation of the Investigation of Parties in Transactions Involving Assignment/Sale of Properties.

revokes the investigation of the Financial capacity of parties in transactions involving the transfer/assignment/sale of properties.

 Revocation of Revenue Memorandum Order No. 24-2016 And 25-2016

REVENUE MEMORANDUM ORDER NO. 25-2016 supplements the rules on the investigation of parties in transactions involving the transfer/assignment/sale of properties

REVENUE MEMORANDUM ORDER NO. 25-2016 

Summary

This RMO is being issued as a supplement to the guidelines provided for in RMO 24-2016

If there will no proof of financial capacity to acquire the property.

1.  The transaction is not a sale but a donation and a Deed of Donation shall be required.
2.  Pay the taxes on the transfer of property and buyer needs to pay income taxes 


Below is the full text of RMO 25-2016



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