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    Angelito Mamersonal
    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. Before his death, he executed a will designating ZZ and YY to manage the settlement of his estate. X1 and X2 are the compulsory heirs of X. ZZ and YY filed the estate tax return on time and paid the tax due. X1 wants to register a real property in Batangas under his name - he should go to the Register of Deeds, where the transfer would be valid upon X's death through succession.

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    Quiz

    Uploaded by

    Angelito Mamersonal
    259 views4 pages
    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. Before his death, he executed a will designating ZZ and YY to manage the settlement of his estate. X1 and X2 are the compulsory heirs of X. ZZ and YY filed the estate tax return on time and paid the tax due. X1 wants to register a real property in Batangas under his name - he should go to the Register of Deeds, where the transfer would be valid upon X's death through succession.

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    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. Before his death, he executed a will designating ZZ and YY to manage the settlement of his estate. X1 and X2 are the compulsory heirs of X. ZZ and YY filed the estate tax return on time and paid the tax due. X1 wants to register a real property in Batangas under his name - he should go to the Register of Deeds, where the transfer would be valid upon X's death through succession.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    259 views4 pages

    Quiz

    Uploaded by

    Angelito Mamersonal
    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. Before his death, he executed a will designating ZZ and YY to manage the settlement of his estate. X1 and X2 are the compulsory heirs of X. ZZ and YY filed the estate tax return on time and paid the tax due. X1 wants to register a real property in Batangas under his name - he should go to the Register of Deeds, where the transfer would be valid upon X's death through succession.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years.

    His real
    property was in Batangas. Before his death, he executed a will and designated ZZ and YY as the
    persons who will manage the settlement / distribution of X’ s estate. X1 is the only compulsory heir
    of X. ZZ and YY filed the estate tax return on December 20, 2020 and paid the estate tax due
    thereon. On July 1, 2020, ZZ and YY distributed the properties. On July 25, 2020, X1 would like to
    register/transfer the real property in Batangas under his own name (X1). Where should he go to
    transfer the title of real property to his own name? If registered/transferred to X1, is it valid?

    • Registers of Deeds / Yes because upon death of X, succession took place. Under Civil code,
    ownership is acquired thru succession
    • Registers of Deeds / Yes because upon death of X, the heir will take possession of those properties
    and RD is obligated to register transfer of real properties upon death of its original owner to its
    successors
    • Registers of Deeds / No because there are necessary documents that need to be presented by heir
    • BIR / Yes because upon death of X, succession took place. Under Civil code, ownership is acquired
    thru succession
    • None of the above

    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years. His real
    properties were in Batangas. His bank deposits in Manila amounted to P 10M. Before his death, he
    executed a will and designated ZZ and YY as the persons who will manage the settlement /
    distribution of X’ s estate. X1 and X2 are the compulsory heirs of X. BIR approved the extension of
    payment of estate tax up to maximum time allowed by law. When is the last day for payment of
    estate tax due?

    • Jan 5, 2022
    • Jan 5, 2023
    • Jan 5, 2025
    • Jan 5, 2026
    • None of the above

    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years. His real
    properties were in Batangas. His bank deposits in Manila amounted to P 10M. Before his death, he
    executed a will and designated ZZ and YY as the persons who will manage the settlement /
    distribution of X’ s estate. X1 and X2 are the compulsory heirs of X. BIR approved the extension of
    payment of estate tax up to maximum time allowed by law. ZZ and YY filed the state tax return on
    time and paid the estate tax due thereon. To discharge ZZ and YY from any future liability for any
    deficiency tax, if any, they must secure a written discharge from personal liability from

    • X1 and X2
    • Either from X1 or X2
    • From X
    • From registry of Deeds for his real properties and From bank manager for his bank deposits.
    • None of the above

    X died in year 2016 in Cebu City. He lives in Palawan for 10 years. His real properties were located
    in Batangas. Notice of his death was filed on time by the heirs who lives in Manila. Notice of death
    was made on May 5, 2016. When is the last day for filing of Estate Tax return?
    • September 5, 2017

    • November 5, 2016

    • May 5, 2017

    • August 5, 2016

    • None of the above

    X died in year 2016 in Cebu City. He lives in Palawan for 10 years. His real properties were located
    in Batangas. Notice of his death was filed on time by the heirs who lives in Manila. Notice of death
    was made on May 5, 2016. The heirs of X are as follows: XX, surviving spouse; two legitimate
    children; one illegitimate child; A, his brother and UU, parent of X. The net estate is 20M. Where
    should the administrator, if any, file the estate tax return? How much is the free portion of X’s estate?

    • BIR-Palawan / 2.5M
    • BIR-Palawan / 5M • BIR-Palawan / 0 or none
    • BIR-Cebu / 2.5M • BIR-Cebu / 0 or none
    • None of the above

    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years. His real
    properties were in Batangas. Before his death, he executed a will and designated ZZ and YY as the
    persons who will manage the settlement / distribution of X’ s estate. X1 and X2 are the compulsory
    heirs of X. ZZ and YY filed the estate tax return on time and paid the estate tax due thereon. The
    right of the government to impose estate tax will arise / accrue on? To whom it (estate tax) will be
    imposed?
    • Jan 5, 2020 / ZZ and YY
    • Jan 5, 2020 /. Estate
    • Jan 5, 2021 / Estate
    • Jan 5, 2020 / X
    • Jan 5, 2021 / ZZ and YY
    • None of the above
    X died in year 2018 in Cebu City. He lives in Palawan for 10 years. His real properties were in
    Batangas. His bank deposits were in Metrobank-Manila. Notice of death was made on May 30, 2018.
    The estate of X was settled extra judicially. BIR Commissioner approved the extension of time for
    filing of tax returns and its payment due to undue hardship upon the estate. X1, heir of X, asked the
    bank manager of Metrobank to allow him to withdraw cash enough to pay the expenses of the estate.
    What is the maximum amount that the bank manager may allow / authorize as cash withdrawals by
    heir of X?
    • Maximum of 20,000
    • 0, until the full payment of estate tax due
    • 0, until X1 shows to the Bank manager a certification from BIR as proof of payment of estate tax.
    • Maximum of 20,000 but subject to 6% withholding tax
    • None of the above

    X died in year 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years. His real
    properties were in Batangas. His bank deposits in Manila amounted to P 10M. Before his death, he
    executed a will and designated ZZ and YY as the persons who will manage the settlement /
    distribution of X’ s estate. X1 and X2 are the compulsory heirs of X. Who is the taxpayer?
    • ZZ and YY (they are solidarity liable)
    • Either ZZ or YY
    • Estate of X using the TIN of X which is 123456
    • X1 and X2 (subsidiary liable)
    • None of the above

    X died on Jan. 5, 2020 in Cebu City with TIN of 123456. He lives in Palawan for 10 years. His real
    properties were in Batangas. Before his death, he executed a will and designated ZZ and YY as the
    persons who will manage the settlement / distribution of X’ s estate. X1 and X2 are the compulsory
    heirs of X. ZZ and YY filed the estate tax return on time and paid the estate tax due thereon. Under
    the law, after Jan 5, 2020, how many “persons” are involved in the scenario (ALL persons under the
    law)?
    • 4 persons
    • 5 persons
    • 6 persons
    • 3 persons
    • None of the above
    X died in year 2016 in Cebu City. He lives in Palawan for 10 years. His real properties were in
    Batangas. Notice of his death was filed on time by his heirs who lives in Manila. Notice of death was
    made on May 5, 2016. The estate of X was settled extra judicially. BIR Commissioner approved the
    extension of time for filing of tax returns and its payment due to undue hardship upon the estate.
    When will be the last day for filing of Estate Tax return?
    • September 5, 2018
    • November 5, 2018
    • October 5, 2016
    • August 5, 2018
    • None of the above

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