Realty By JM

Salt and Light of Philippine Realty

Does Your TCT or CCT Have This Lien?

Recently, I’ve been encountering Transfer Certificate Titles (TCT) and Condominium Certificate Titles (CCT) with this Lien: Section 4 of Rule 74 of the Rules of Court.  Do you want to learn more about this law?  (Click Here) In a nutshell, I believe it says that you can’t transfer your title to anyone unless the deceased is dead for two years.

I’m beginning to realize that this is a very common encumbrance.  People who inherited property do not mind, or is not aware of, this encumbrance until they sell their property.  It takes at least 2 weeks for this lien to be processed and canceled by the Registry of Deeds.  In addition to those weeks you spend waiting, are the hours you spend traveling and waiting in line for your number to be called.  So, kindly check your Titles.   If you read Sec.4 Rule 74 on it, prepare for it and have it canceled.

You need these:

  1. Owner’s Original copy of TCT or CCT.
  2. Verified Petition to cancel lien.  (Request this from your lawyer who will charge you a professional fee of 3K max.)
  3. A Photocopy of Presenter’s two valid I.D.s  (If you are hiring a real Estate Broker for this, a professional fee of 5K is fair.
  4. Registry of Deeds Application Form
  5. Patience

I have and know people who can work on this.  If your property is located in Metro Manila, Quezon City, we can assist you.  Or, if you have other concerns regarding your title, estate taxes, or transfer taxes, let’s talk.

 

[UPDATE] > Here is a sample/template you may find useful: See Template

Filed under: LAW, Sec.4 Rule 74, , , , , , , , , , , , , ,

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