12/10/2023
𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘁𝗵𝗲 𝗺𝗼𝘀𝘁 𝗰𝗼𝗺𝗺𝗼𝗻 𝘁𝘆𝗽𝗲𝘀 𝗼𝗳 𝗰𝗼𝗻𝗱𝗼𝗺𝗶𝗻𝗶𝘂𝗺 𝘁𝗶𝘁𝗹𝗲𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗣𝗵𝗶𝗹𝗶𝗽𝗽𝗶𝗻𝗲𝘀?
In the Philippines, the most common types of titles are the:
✅ 𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐞 𝐨𝐟 𝐓𝐢𝐭𝐥𝐞 (𝐓𝐂𝐓)
A Transfer Certificate of Title or TCT refers to the ownership of the land under the Torrens system. This means the title you hold is guaranteed as to the integrity and conclusiveness of the certificate of registration. As such, TCT is the ownership of the tangible real estate, particularly land. Condominium developers hold a TCT over the land wherein the condominium building is erected. After the conveyance of the condominium building and common areas to the condominium association, however, this TCT will have to be transferred to the condominium association.
✅ 𝐂𝐨𝐧𝐝𝐨𝐦𝐢𝐧𝐢𝐮𝐦 𝐂𝐞𝐫𝐭𝐢𝐟𝐢𝐜𝐚𝐭𝐞 𝐨𝐟 𝐓𝐢𝐭𝐥𝐞 (𝐂𝐂𝐓)
A Condominium Certificate of Title or CCT is a document certifying ownership of a condominium unit. At first glance, you will see pertinent information regarding the specific details of the condominium. This title bears the floor number, the unit, its configuration, the name of the unit owner, and the name of the residential building. A condominium unit pertains to a part of the condominium project intended for any type of independent use or ownership, including one or more rooms or spaces located on one or more floors (or part or parts of floors) in a building or buildings and such accessories as may be appended thereto.
As a condominium unit owner, you want to ensure that your CCT has no previous liens, mortgages, or encumbrances whatsoever. When your CCT, on its face, does not have any of such liens, mortgages, or encumbrances, it means you are holding a clean condominium title.
CTTO
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