Land Title
There is nothing worse than going through the tedious process of buying your home or real estate and realize that the Title is not clean, or worse, is fake.
How to ensure that the Land Title is Real and Clean:
1- Check the quality of paper used. The forms used in property titles are exclusively printed by the Banko Sentral ng Pilipinas, The judicial form uses a type of paper which contains various security features. The paper is made out of 50% cotton, and 50% chemical wood pulp with colored fibers. If held up against a light, an LRA or Land Registration Association watermark should be visible through the paper. The paper also has similar texture to a bank check.
Fake title forms typically use material similar to Cartolina or paper of inferior quality. Real Estate experts say that there are more than 10,000 fake Titles being used and circulating around the Philippines.
2. Verify authenticity of the "Transfer of Certificate of Title" document. The Register of Deeds should be able to provide you "Certified True Copy" of the Title to ensure its authenticity.
3. Check the "Owners Duplicate Copy". First, the duplicate copy of the Title should contain the markings "Owners Duplicate Copy" on the left side of the form. Second, a red seal with no blotting should be present on the lower corner of the form.
4. Verify the Seller's Identity. Any person can pose as a landowner and act as one. Ask for a valid ID to check if the person claiming ownership of the property is really the person mentioned as registered owner.
If the Title indicates the Sellers parents are the registered owners, it possess a problem since there might be other heirs claiming the property. Some heirs may want to sell while others refuse.
5. Check for Liens and Encumbrances. A lien is an encumbrance (legal liability) on a person's property to secure a debt the owner owes to another person.
6. Make sure Real Estate Taxes have been paid. Check with the Treasurers Office to see if Real Estate taxes have been paid.
7. Double check the Title's technical description. Ask permission from the Landowner to have the land surveyed by a Geodetic Engineer. This is to determine if the land area specified in the Title matches the actual land area surveyed.
Have a Licensed Real Estate Practitioner for SAFE transaction.
HOUSE & LOT
Location: Mandaue City, Cebu
House & Lot located in Ozamiz City for Sale.
No Home Owners monthly dues. No restrictions on your property.
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