Introduction
The land title verification process is a critical step in the due diligence process when buying a property in Cebu. It is wise to hire a professional, such as a lawyer, to assist you with this process, especially if you are not familiar with the local regulations and laws. However, if you decide to conduct the land title verification process yourself, this article will guide you through the necessary steps.
Overview of the Article
This article is divided into four parts. Part One discusses the importance of land title verification in Cebu. Part Two provides a step-by-step guide on how to conduct the land title verification process in Cebu. Part Three discusses the relocation survey process, which is an essential part of the land title verification process. Part Four will discuss the costs attending land transactions in Cebu.
The Importance of Land Title Verification in Cebu
The Cebu Land Registration Authority (LRA) is responsible for maintaining the land records in Cebu. However, even with the LRA’s efforts to ensure the accuracy and integrity of land records, disputes and fraud can still occur. Therefore, it is crucial to conduct a thorough land title verification process to ensure that the property you are purchasing is legitimate and free from any disputes.
Land Title Verification Process in Cebu
The land title verification process in Cebu involves several steps. Here is a step-by-step guide on how to conduct the process:
- Verify the Owner’s Duplicate. Request the seller to provide the Owner’s Duplicate of the title, also known as the TCT (Transfer Certificate of Title). Make a copy of the TCT and bring it to the Cebu Land Registration Authority (LRA) to verify its authenticity.
- Conduct a Search at the Cebu Land Registration Authority (LRA). Conduct a search at the Cebu LRA to ensure that the title is not fake or tampered with. You can also request for a Certified True Copy (CTC) of the title from the LRA.
- Verify the Seller’s Identity. Verify the seller’s identity by asking for multiple identification documents, such as a valid government-issued ID and a birth certificate. Bring these documents to the issuing government agency to verify their authenticity.
- Check for Any Encumbrances. Check if the property has any encumbrances, such as mortgages or liens, by reviewing the title and conducting a search at the Cebu LRA.
Protecting Yourself from Risks
In Cebu, there have been cases where fake titles were sold to unsuspecting buyers. To protect yourself from such risks, it is essential to conduct a thorough identity verification as part of your land title verification process. Here are a few things you can do:
- Do not rely on just one ID. Ask for multiple identification documents from the seller.
- Bring the identification documents to the issuing government agency to verify their authenticity.
- Conduct a search at the Cebu LRA to ensure that the title is not fake or tampered with.
Conclusion
The land title verification process is a critical step in the due diligence process when buying a property in Cebu. By following the step-by-step guide provided in this article, you can ensure that the property you are purchasing is legitimate and free from any disputes.
Please search for Parts One, Three, and Four for the continuation of this article, which will discuss the relocation survey process and the costs attending land transactions in Cebu.
