Open Deed of Sale Questions

[leonleon]

there's always the income tax.. you did earn money from the sale, did you not? sabi nga ni kim, "any and all income is potentially tax-able".

How did he earn money from selling his car? Car value deprecieates over time.

[firewater07]

Thanks po sa mga replies

*rodetor Thanks po sa welcome, actually matagal na po akong lurker dito sa mga threads ngayon lang ako nakapag-post

[Yatta]

How did he earn money from selling his car? Car value deprecieates over time.

Buy low, sell high.

[ninjababez]

usually ba pumapayag yung buyer na 2 ang deed of sale, isang open and isang notarized na closed deed of sale. para sa protection ng seller?
di ba sila na-ooffend minsan sa ganun?

[dr. d]

usually ba pumapayag yung buyer na 2 ang deed of sale, isang open and isang notarized na closed deed of sale. para sa protection ng seller?
di ba sila na-ooffend minsan sa ganun?

that is why, open deed of sale is frowned upon. illegal.
but the ace in the hole is, "who's gonna complain?" certainly, not the person whose signature is on the document! because that signature means, he consented to it. the buyer does not know that there are two deeds of sale, so he won't complain, either. the bayan seller? he machinated the entire deal, so he's gonna keep quiet. the LTO? they have no proof that there's another deed of sale.
kaya nakakalusot. walang nag-co-complain.

nagkakagulo na lang, kapag may nangyari sa sasakyan.

all these can be voided, if: buyer stick to owner-sellers; and/or government require buyer to transfer ownership to them asap.

[dr. d]

How did he earn money from selling his car? Car value deprecieates over time.

inabot sa kamay ang pera. pinasok sa bulsa o dineposit sa bank account niya. that's income.
how seller will deal with this with the BIR, is his accountant's job.