Criminals are quite clever these days, making it challenging to distinguish between what's legitimate and what's not. Whether it's in digital or physical form, it's crucial to stay vigilant and be aware of the signs that indicate authenticity. We reached out and conversed with an individual with experience handling fake titles. Mark, as we'll call him in this article, shared some valuable insights on how to determine the legitimacy of a title.
First Tip: "Check the material of the paper where the title is printed."
The Bangko Sentral ng Pilipinas (BSP) is responsible for printing the judiciary forms used for property titles. They print on special paper that is made of cotton and wood pulp mixed with artificially colored silk fibers. Be on the lookout for these security features while examining a title: the thickness and texture of the paper, colored circular marks or intricate patterns, and the intaglio border.
If they have those, you can be more sure that the title is legit. Mark also mentioned that most fake titles are printed on cartolina, so be cautious of this material.
If you think the title is legit and ready to take the next step, it's better to know the proper due process.
Second Tip: "Look at the duplicates as well, as they could be an indicator."
Most title owners keep duplicates of their documents on hand. It's essential to carefully inspect these duplicates, paying close attention to every detail. Ensure that the initials, signatures, annotations, serial numbers, dates, and all components match perfectly.
There are ways also to know if a title is a duplicate or an original copy. For the original copy, the serial number should be red. Duplicates, on the other hand, have their serial numbers in black. Duplicates also should have the words OWNER's DUPLICATE CERTIFICATE on the left side margin of the form, with a red seal on the lower left corner.
Any discrepancies should raise immediate red flags, and warrant further checking.
Third Tip: "Utilize additional resources to assist in verifying the authenticity."
Mark mentions that nonchalant clients are the best targets, as they are less likely to check or use other ways to check for a title's legitimacy.
"Banks are typically bound under the data privacy act. You can go visit the Registry of Deeds to help you. They're the right and authorized government agency that can determine whether the title is authentic or not. There you can check who signed on the deed and when it was released, if it lines up with those who have the title now."
Take the time to also backtrack on the history of the title, it's a way to see what happened with the title. You'll also be able to find out if the title has been reconstituted from when it was destroyed or lost. If the original document has been reconstituted it should have the tag "RO" before its title number. If it is a transfer certificate of title that's reconstituted, it should have the tag "RT" before the title number.
Consulting with professionals can also be a valuable step in confirming the authenticity of a title. Reputable brokers specialize in verifying the legitimacy of property sellers and titles, drawing on their extensive experience to identify any potential fakes. At Presello, our real estate agents are dedicated to conducting thorough checks on all documentation, ensuring that property listings on our website are from genuine sources. Take the first step and consult with Presello today so we can connect you with the experts to get your dream property.
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