Assistance in Reconstitution of Lost TitleThere are two documents that show proof that you are the registered owner of a property, and these are both issued by the Registry of Deeds (RD). First, is the owner’s title e.g. condominium title or land title, which is the copy that the owner personally has. Second, is the original copy of the land title or condominium, which will be kept at the Registry of Deeds. Unfortunately, there may come a time that an unforeseen circumstance may lead to the title of your property to be lost or destroyed.
Is there any significance if one loses his Condominium Title or land title to his property?
Losing one’s condominium title or land has quite a number of disadvantages. As mentioned, a title to one’s property can be found in the Registry of Deeds (RD). Any person who has interest in one’s property can proceed to the Registry of Deeds and ask if one is the registered owner of the property or not. This is usually done by buyers of property, banks, and the like. However, if they cannot confirm that one is the registered owner of the property, the corresponding transaction, such as an investment or a sale, may no longer push through. It is thus important for one to have a title of his property- not just his own copy, but more importantly the copy of his title at the Registry of Deeds, available at all times.
What do I do if my Condominium Title or Land Title is lost or destroyed?
A Petition for Reconstitution of Title restores the lost or destroyed title in the same form prior to the said loss/destruction. The registered owner, his assigns, or any person having an interest in the property can file for a petition for reconstitution of tile. A proper proceeding for this petition must be filed before the Regional Trial Court (RTC). A witness testimony will also be needed. The RTC will then order reconstitution, as long as it is based on meritorious grounds.
In filing this kind of petition, you will need the legal expertise of a competent lawyer. Let the highly-skilled lawyers of FILEDOCSPHIL’s help you. For more information about their services, CLICK HERE for a free quote.