What is this Affidavit all about?
If you’re the only heir of a deceased loved one.
For example, if your mom who’s a widow has passed on…
And there are no other heirs of your mom…
And you’re an only child or have no siblings…
Then you’re the only heir of your mom.
In which case, by executing this Affidavit…
All your mom’s property, real and personal, shall belong to you.
Her real properties will now be registered (and named) in your favor.
So instead of executing an Extrajudicial Partition, all you have to do is execute this Affidavit.
Afterwards, pay the necessary estate tax with the BIR and property registration will follow.
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