Despite all the regulations put in place to fight scammers and con men in the Philippine real estate industry, there are still a lot of cases being reported where unsuspecting victims fall for fake land titles. For example, just recently ( syndicate which already has a number of victims who lost their money by buying properties with fake titles.
To avoid getting yourself into a similar problem, your first line of defense is a short and quick check of the land title that is presented to you. There are very specific characteristics of authentic Philippine land titles. If one or more of these are missing on the title that is presented to you, then you know right away that you’re dealing with scammers.
Ms. Ruby Valdez, one of the land registration examiners from the Land Registration Authority of the Philippines, shares with us these items which you can check for in 30 seconds or less.
The papers used for authentic land titles in the Philippines are supplied by the Banko Sentral ng Pilipinas. These papers are physically unique from all other kinds of papers that you can buy from stores. Here are the things you should look for:
- The texture is similar to that of a bank check
- It has a faint watermark that says “LRA“
If it’s an old title (before the newer e-Titles being used today), the color of the paper is light yellow. (more…)