Thank you for choosing Avida properties for your housing needs. We want your purchase to be as hassle-free as possible. Hence, we encourage you to spend time to read through this page for a better understanding of what to expect - our deliverables and your corresponding obligations towards the full realization of your dreams.
Title and Tax Declaration
1. Are all units secured by a title at Avida?
Each of the units that you buy from us is covered by a title that will eventually be transferred to your name. A Transfer Certificate of Title (TCT) is issued to new Avida lot owners and house and lot owners, while a Condominium Certificate of Title (CCT) is issued for condominium unit owners.
2. How does a title transfer work in Avida?
The titling process starts when the Bureau of Lands issues an approved plan to consolidate and/or subdivide a parcel of land into saleable units and open spaces/road lot/common area. The title/s of the parcel/s of land is presented to the Register of Deeds together with the approved subdivision plan by the Bureau of Lands. The Register of Deeds will prepare individual titles for each and every saleable unit and open spaces/road lot/common area depending on how the cut-up plan was approved by the Bureau of Lands. The Register of Deeds will not issue the new set of titles on a piece meal basis. It prepares all the titles for the approved plan before Avida can get any one of them. At this point, all titles that will be issued will be in the name of Avida or its joint venture partner.
3. When does the title transfer commence here at Avida?
Once you have fully paid your loan or Avida has an undertaking from your financing institution to fully pay your purchase, and depending on the financing package you have chosen, we can now start the process of title transfer from Avida to your name. This does not go directly to the Register of Deeds. We still have to pay for the taxes due on the purchase to the Bureau of Internal Revenue (BIR) to secure the necessary documents required by the Register of Deeds before effecting actual title transfer. This process takes about four (4) to six (6) months from date of full payment and submission of all document requirements.
Once all taxes due to the government are paid and the necessary clearances are secured, all the documents needed to effect title transfer are forwarded to the Register of Deeds. This process takes about two (2) to three (3) months.
Delays at the Local Government Units (LGUs) are
sometimes experienced due to any of the following:
- Volume of documents being processed
- Shortage or lack of the special paper that is used for the title, given the bigger volumes being processed for all the developers
- Unavailability of the signatory/ries from the Local Government
For further clarifications on the above items, please get in-touch with your agent / sales consultant.
AVIDA PROPERTIES - buyers guide |
