EXTRAJUDICIAL SETTLEMENT AMONG HEIRS

An extrajudicial settlement by agreement among heirs is available as

an expeditious mode of disposing estate properties of the decedent
provided the following conditions are met:

(a) The decedent left no will

(b) The decedent left no debts. [It shall be presumed that the decedent left
no debts if no creditor files a petition for letters of administration
within two (2) years after the death of the decedent.]
(c) The heirs are all of age, or the minors are represented by their judicial
or legal representatives duly authorized for the purpose,
(d) The settlement is in the form of a public instrument filed in the office
of the register of deeds,
(e) All the heirs must agree, otherwise, the settlement of the estate must
be pursued by means of an ordinary action of partition.
(f) If there is only one heir, he may adjudicate to himself the entire estate
by means of an affidavit filled in the office of the register of deeds.
(g) The heirs must file a bond with the said register of deeds, in an
amount equivalent to the value of the personal property involved as
certified to under oath by the parties concerned and conditioned upon
the payment of any just claim that may be filed under Section 4, Rule
74 of the Rules of Court.
(h) The fact of the extrajudicial settlement or administration shall be
published once a week for three consecutive weeks in a newspaper of
general circulation
(i) The extrajudicial settlement shall NOT be binding upon any person
who has not participated therein or had no notice thereof.

[see Section 1, Rule 74 of the Rules of Court]

KNOWN BY ALL MEN THESE PRESENTS:

This Extrajudicial Settlement of Estate, made and executed in

___[Place] ____ on ____[Date] ____ by and among:

______[Name]___ Filipino of legal age, single

/married/widowed residing at ___[Address] ____

______[Name]___ Filipino of legal age, single

/married/widowed residing at ___[Address] ____

______[Name]___ Filipino of legal age, single

/married/widowed residing at ___[Address] ____

WITNESSETH:

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 1. That the above-named parties are the sole heirs of ___ [Name
of Decedent] __, being the latters legitimate children and
surviving spouse, respectively.

2. The __[Name of Decedent] _ passed away on _[Date] __ , and

at the time of his death, was residing at ____[Place] ____;

3. That the decedent left no will;

4. That to the best knowledge and information of the parties

hereto, the said deceased left no debts;

5. That the said deceased, at the time of his death, owned the
following properties:

(a) a one-half pro-indiviso share of a ( ____ sq.m) real

property situated in (situs of property), and covered by
Transfer Certificate of Title (TCT) No. __________ of the
Register of Deeds of [Place], registered in Book T-_____,
Page ______, together with all the existing improvements
thereon consisting of [a house of strong materials].

(b) [insert additional properties, properly described] .

(c) [insert additional properties, properly described] .

6. That no personal properties are involved in this extrajudicial

settlement;

7. That by agreement between the parties herein, the entire

interest of the decedent in the above-described properties
shall be divided and settled among them in the following
manner, to wit:

state fractional interest of each party:

1/3 to [name]
1/3 to [name]

8. [Name of heir], do hereby hereby waive and adjudicate

his/her share as heir equivalent to [1/3] of the estate of
his/her late spouse, and that of her own share in the said
property as part owner of the conjugal partnership, in favor
of his/her children, [Name of children], so that full
ownership of his/her said share and participation in the
above-described properties may now be consolidated in favor
of his/her children, who will now be the sole and absolute
co-owners of the whole property above-described.

IN WITNESS WHEREOF, the parties have hereunto set their hands

this _____ day of ___ [Month, Year] ____ at ____[Place] ____ .

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 __________________________ __________________________

__________________________ __________________________

Signed in the presence of:

____________________ ____________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

________ CITY ) S.S.

BEFORE ME, a Notary Public for and in the City of __ [Place] _,

Philippines this __ [Date] _personally appeared the following:

Names ID No. Date/Place Issued

known to me and to me known to be the same persons who executed the

foregoing Extrajudicial Settlement Among Heirs consisting of three (3)
pages including this page, and they acknowledged to me that the same
is their free and voluntary act and deed.

WITNESS MY HAND AND NOTARIAL SEAL at the place and on

the date first herein above written.

Notary Public

Doc. No. ____;

Page No. ____;
Book No. ____;
Series of _____.

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