Amount of Documentary Stamps to Be Affixed on the Affidavit of Consolidation of Ownership of Foreclosed Property

February 18, 1986 BIR RULING NO. 013-86 201 000-00 013-86 Gentlemen : This refers to your letter dated August 14, 1985 requesting in behalf of your client, Peoples Development Bank, clarification as to the amount of documentary stamps to be affixed on the affidavit of consolidation of ownership of foreclosed property. It is represented that your client foreclosed certain real property mortgaged to it and, being the highest bidder in the foreclosure sale, a certificate of sale was issued by the sheriff in its favor. After the expiration of the period for redemption of the property, your client now seeks to consolidate its ownership over the property by executing an affidavit of Consolidation of Ownership. In reply, please be informed that the certificate of sale issued by the sheriff is subject to the documentary stamp tax on deed of sale and conveyance of real property, pursuant to Section 209 (formerly Section 245) of the Tax Code. (BIR Ruling No. 174-85 citing Sec. 171 of Regulations No. 26 of the Documentary Stamp Tax Regulation) However, the Affidavit of Consolidation of Ownership which is subscribed and sworn to before a Notary Public is subject to the documentary stamp tax of P3.00, pursuant to Section 201 (formerly Section 237) of the same Code. (Sec. 85, Regulations No. 26) Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner