12/10/2023
๐ช๐ต๐ฎ๐ ๐ฎ๐ฟ๐ฒ ๐๐ต๐ฒ ๐บ๐ผ๐๐ ๐ฐ๐ผ๐บ๐บ๐ผ๐ป ๐๐๐ฝ๐ฒ๐ ๐ผ๐ณ ๐ฐ๐ผ๐ป๐ฑ๐ผ๐บ๐ถ๐ป๐ถ๐๐บ ๐๐ถ๐๐น๐ฒ๐ ๐ถ๐ป ๐๐ต๐ฒ ๐ฃ๐ต๐ถ๐น๐ถ๐ฝ๐ฝ๐ถ๐ป๐ฒ๐?
In the Philippines, the most common types of titles are the:
โ
๐๐ซ๐๐ง๐ฌ๐๐๐ซ ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐ ๐จ๐ ๐๐ข๐ญ๐ฅ๐ (๐๐๐)
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.
โ
๐๐จ๐ง๐๐จ๐ฆ๐ข๐ง๐ข๐ฎ๐ฆ ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐ ๐จ๐ ๐๐ข๐ญ๐ฅ๐ (๐๐๐)
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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