The prospect of gaining a large sum of money can be very alluring, to the point where it can put a lot of pressure on individuals. Some may even lose their sanity in their pursuit of wealth or when fighting for what they believe is rightfully theirs. Unfortunately, some take advantage of this situation and use it to scam and swindle money from those who have fallen prey to their deceitful schemes. These individuals are known as scammers.
But by following the tips or ways provided below, you'll never fall to scammers.
1. Never buy a lot if no original title is surrendered to you.
There are only two copies of the original title, one with the Registry of Deeds(ROD) which will be forwarded to Land Records/Registry Authority(LRA), and the owner's duplicate copy which is released to the owner as proof of ownership Upon transfer of the title to a new owner, ROD will require that duplicate copy to be surrendered so they can cancel it and the new transfer title will be released. So if the original duplicate is missing, theirs a risk that the lot is already been sold or owned by another.
2. Request an Electronic Certified True Copy (E-CTC) of the Title at the Registry of Deeds.
You need to have the complete name of the owner, lot number, and the Title number. Even without a copy of the title anyone can request a copy as long as they pay the printing charges which range from 275php to 350php. It will take 30 minutes to 1 hour only depending on how busy is the day in ROD. But you can also request a copy online, check this link https://eserbisyo.lra.gov.ph and pay the charges by GCash, Paymaya, or other authorized payment centers.
In the E-CTC of title, the latest records on file will be retrieved and any encumbrances will be updated like mortgages, lien, other claimants, and if there are pending cases. If any of those mentioned are still outstanding, do not buy or else you will bear the risk of wasting your money.
3. For lots with Tax Declaration only, make sure it's the latest issuance.
You can request your own CTC copy at the municipal assessor's office and secure the lot's status/history certificate at the DENR. Require the owner to secure a Tax Clearance Certificate at the municipal treasury thus ensuring that all Amelyar is paid and updated.
4. The deed of Sale must be complete and have the necessary attachments.
Commonly, we think of a DOS as a single document signed by the buyer and seller, but in reality, several documents are necessary to make the DOS effective for titling. Check below,
a. All signatories including witnesses must have valid IDs and active TIN Numbers.
b. If only one signatory in the DOS but there are lots of heirs, Special Power of Attorney (SPA) must be secured assigning the DOS signatory as the representative or Atty-In-Fact duly signed or consented by all heirs.
C. DOS must have a phrase for warrant and covenants under the provision of the New Civil Code of the Philippines article 163 and that portion of Land is not registered under Act No. 496 otherwise known as Land Registration Law nor under the Spanish Mortgage Law but it is the will of the parties to register this deed by Act. No. 3344 as amended
5. For buying a portion of a parcel of lot, in addition to the above, get a copy of the approved subdivision map and locate the lot to buy. Make sure that the owner on the map is the seller itself.
Above mention tips are to be acted upon before paying in full the lot. Don't do investment in haste after all as long as you have the money, there will be more opportunities to come. If it's too cheap, it is more risky. Avoid hassle.
