Real Estate Scam: Beware of fake Land Title

Having a Real Estate Property in Vistaland is one of the biggest investments we could ever have. This kind of savings is not a small thing after all, why? Because it covers a lot like contracts, multiple documents, large amounts of money, and of course you have to build a harmonious relationship with the seller. Before you get comfortable with the agent, make sure that you still do your part as the customer or client by conducting due diligence. First things to determine if the land title is real or fake.

image source: www.bpihousingloans.com

Apart from knowing the ideal traits of a good real estate agents, you also need to ensure that property you are about to purchase is legal and holds legal documentation like the Land title. Make sure you make time reading this one highlighting some of the best ways on how to distinguish if the land title is real or not.  

•  First, you have to check the physical features of the judicial form. It should have watermarks, fibers, planchettes, and intaglio or commonly known as border print.
• You also need to check the Judicial Form Number using the right and correct form like No. 108-D and No. 109-D.
• Check the date. Make sure that the date where the title form was printed is just the same of the date of issuance.
• The serial number in the original copy should be the same with the serial number in the duplicate form.
•  Take a look in the last two digits of the title number;
  it should be the same as the page number in the registration book.
• Check the title and seal of the duplicate copy. It should have the owner’s duplicate certificate and a red seal.
•   Lastly, you can go to the Registry of Deeds to personally ask them to check the land titles.

Nowadays, people should be smarter enough to avoid being victimized by fake land title holders or even a syndicate. Do not get easily fooled by others and make your own actions ensuring that all transactions are legal and have supporting documents. Remember that if the agent is offering something that is good to be true, I guess you have to think twice and be alarmed whether you are dealing with the right persons or not.

Can Foreigners buy real estate property in Philippines?

As the days go by, it is noticeable that many foreigners are now interested in investing their money through real estate property in the Philippines. Mainly because, most of the foreigners really loved Filipinos, our tropical climate, and the great opportunities awaits them. But the question is can foreigners buy a property in our country? The answer is yes, but there are lots of exemptions to the rule, it is not absolute and always subjected to restrictions.

image source: home.expatfinders.com

Unlike with other countries, anyone who is capable buying a property is allowed to do the transactions regardless of their citizenships. The Philippines are very strict when it comes to foreigner’s ownership. That’s why other natio

ns got surprised when they cannot simply buy a real estate property under their name. Basically, real estate property in the Philippines is exclusive only for Filipinos, a corporation that has at least 60% Filipino interest, and Dual Citizenship.

According to the Philippine law, Filipino citizens are totally allowed to buy a home or even condo in every part of our country; on the other hand, foreigners can only be a co-owner through his or her spouse.  Another thing is that other nations can own a building but not the land.

 In fact, there are some of our lawmakers pushing to have revision and modification of the law concerning foreign ownership in our country to simply expand the coverage and limitations of it although it would be a long standing debate. Most of the lawmakers who are pushing the revision of that law believed that this would result in more investments from overseas. However, the other side of the group who are against in modification says that it would affect our national patrimony if we allowed foreign investors to have an easy access of our real estate property.

Filipinos are being aggressive nowadays in understanding the legality and the rights when buying a property. Simply because they want to ensure that the transactions would be smooth. Asking legal questions and conducting own research to legalize everything.  I hope this blog helps you to understand the other side of the coin. Investing at the first place is not a bad move after all.