by: RJ Armas
Step # 1. Go to the Registry of Deeds and request for CTC.
Make sure that you receive all pages of the title. And check if the name of the owner and title number before you go to the Registry of Deeds. The registry of deeds is the repository of all properties that also includes not just lots but also heavy equipment. Once in RD, request a CTC of the Title that you are buying.
Step # 2. Verify the Seller’s Identity.
Get copies of the ID of the Seller and make sure that the Owner of the title matches the IDs of the Owner. If an agent/broker is selling the property, ask for an authority to sell to make sure that the person who has given the authority to sell the property is the person who is the real owner of the property.
Step # 3. Check for liens and encumbrances.
Check the Certified True Copy of the Title for encumbrances on the title. This is usually found at the back of the title. There are many kinds of encumbrances such as the following:
Adverse Claim – a claim towards the property by a third person.
Mortgage – the property has been used as collateral for a loan by the owner.
Right of Way – a portion of the property cannot be closed or developed.
Lis Pendens – a pending case against or involving the property.
Step # 4. Double check the Title’s Technical Description
Make sure that the shape of the title is the actual shape they are claiming. Better to employ geodetic engineers or surveyors to really confirm the actual shape and technical description of the property.
Step # 5. Check the Tax Payments on the Property
Check if the owners are paying the yearly tax on the property. Real Property Tax or Amilyar should be regularly paid otherwise these taxes might multiply and you as the buyer might pay for it in the end. Go to the City Assessor's office and get a Tax Declaration of the property and a Certificate of Non-Delinquency.
Step # 6. Check the Tax Mapping of the Property
You can also check the shape of the property easily by requesting a Tax Map of the Property that you are buying through the City Assessors’ Tax Mapping section. This is not an exact method for checking the shape of the lot, but it will help you save money if you just want to get a quick check of the shape of the property.
Step # 7. Check the Owner’s Duplicate Copy of the Title
Finally, when you are meeting with the owner/seller of the property, you can already check the owner’s original duplicate copy of the title. You can easily check for the following:
Check the paper’s texture and special blots/fibers. This is a different type of paper than usual and could be comparable to checks.
When you hold up the title against the light, you must find the LRA seal.
If you have done all these steps, then you have done so much more than even a lot of the professionals doing this kind of work. And the chances of buying a fake property have been drastically reduced. Good luck and congratulations on your new property!
For questions don’t hesitate to email me at rjparmas@gmail.com