1. AUTHENTIC “Transfer Certificate of Title”
To check if the property title is authentic is to get CTC(Certified True Copy) of from Registry of Deeds which is usually within the City/Municipality where the property is located. Simply ask the seller for a photocopy of the title where you can get the ‘Title No.’ and ‘Owner’s Name’ which are required info to get CTC of the property title.
2. Make sure that the seller(s) is/are the real owner(s).
Ask for proof of identification like TIN ID, Voter’s ID, Passport, Driver’s Licensed. Talking to his/her neighbours is good way as well to confirm his/her identity.
3. Check the description of the Property (Technical Description) and ‘Encumbrances’ as stated on the title
By doing this, you can verify if the title is clean. The property should not mortgage/no liens & encumbrances. In the front of title, you will find the basic description (Technical Description) of the property, read this carefully to make sure that there’s no problem/issue stated in here.
While in the back of the title, you will find an area with ‘Encumbrances’ heading, this area should be empty as it denotes that the property is clean.
4. Make sure that the property stated on the title is the property that you are buying.
Land titles do not have specific street name and number; you can confirm it with Registry of Deeds for or hiring a Land Surveyor. Keep in mind that it is a MUST that what stated on the titles matches with the actual property.
5. Make sure that the yearly ‘Amilyar’ / ‘Real Estate Tax’ are all properly settled/up to date.
Simply ask for a copy of the ‘Tax Declaration’ and ‘Tax Receipts’ to see and confirm that real estate tax payments are up to date.
Disclaimer: This is just a basic Property Investigation tips for basic real estate property acquisition transactions and only applicable for basic and simple real estate transactions. Deeper investigation requires deeper knowledge, experiences, expertise, resources, and contacts.
If you need a deeper and professional Property Investigation service, please don’t hesitate to contact us
– Right Eye Detective & Protective Services.