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TCT, CCT, Title Transfer, and Annotation Defined

Title transfer signifies the transfer of ownership of a property usually via sale of that property (which in turn is usually documented via a deed of absolute sale.

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18Aug2016 Update: Before investing in real estate, please read this first: Invest in Property PROPERLY.

08Nov2015 Update: Click here for a more visual step by step guide.

 

In my previous posts, I provided insights on choosing a home loan provider, as well as the major steps in getting a home loan. Here I will provide the basic definitions of a TCT, a CCT as well as title transfer and annotation so that we are familiar with the key definitions before we dive into the title transfer process. In another post, I will detail the steps on title transfer and annotation
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What are the types of property titles anyway? In the Philippines, there are two usual kinds:

1. Transfer Certificate of Title (TCT): Refers to the property title of a land, or a land with a built property in it (e.g. house and lot). This is the certificate of ownership of the land and including the air space in it (i.e the building or house). This details the property location (coordinates and geographical address), plus the size of the land, the registration number and the owner. It also details the previous TCT’s that were cancelled due to the transfer of ownership.

2. Condominium Certificate of Title (CCT): As the name implies, this certifies the ownership of a condominium unit. Haven’t seen one but it makes sense to expect that the CCT details the location of the condominium, the name and developer of the condominium, the rightful owner of the unit, and the location and size of the unit (floor, unit number, unit size, etc). Note though that CCT ownership only conveys ownership of the air space (where the unit is located), and not the lot space (where the whole condominium stands, and where all other units are located). This is a marked difference compared to TCT. Naturally, the TCT of the condominium will be named after the developer of the condominium.

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Now, what is a title transfer and what is annotation?

In layman’s terms (disclaimer: these are NOT legal definitions, but rather a friend’s attempt to explain to you dear reader. If you need legal definitions, consult a lawyer), title transfer signifies the transfer of ownership of a property usually via sale of that property (which in turn is usually documented via a deed of absolute sale). In a title transfer, the old title where the previous owner is named, is legally cancelled and superseded by a new title, wherein the new owner is named.

Annotation meanwhile, is when a loan provider (e.g. a bank) writes entries on the title to signify that the property is mortgaged or loaned to the loan provider, albeit ownership remains with the named owner in the title. This annotation documents that there is a certain claim to the title, that the annotated party may actually call on that claim when necessary (i.e. in case of default), although for now, ownership still resides with the owner. In the title verification process, a clean title actually refers to a title with no annotations from a lender.

Now since we’ve gotten this settled, we can now proceed to the steps in a title transfer and annotation.

 

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About Geri (356 Articles)
Founder and main author. Husband, used-to-be-breadwinner, God-made multi-millionaire, employee, financial planner and adviser, investor, stocks trader, entrepreneur, agri-preneur, book author. Firm believer that all Pinoys deserve a richer life. Not a guru, but a forever student of the investments world, a work-in-progress.

10 Comments on TCT, CCT, Title Transfer, and Annotation Defined

  1. Hi po

    magtanong lang po sna ako regarding sa Land Title namin, kumuha po kasi kami ng house and lot sa isang developer then yung title na binigay nila is 80sqm tpos po after 1 yr ininform nila kmi na yung actual lot ay naging 84sqm, inapply po nmin siya ng Housing loan sa PAGIBIG and naapprove namn po sya kya lng need dw po mabago yung title based sa actual na 84sqm. ayaw nmn po baguhin ng developer yung title.. babaguhin lng dw nila pag nafullpayment na nmin yung bhay. how come pa na iapply nmin sya sa pagibig kung iffull namin dba.. kya sna po matulungan nio ako kung may ibang option para maiapply nmin xa ng housing loan sa PAGIBIG or bank?

    Maraming Salamat!!

    Like

  2. Good afternoon, tanong ko lang po kung ano ang dapat po naming gawin sa lupa na kinatitirikan ng bahay namin.. Nabili po kasi siya ng lolo ko wayback 1975. Wala pong kasulatan and documents at all.. Nasa amin na po yung titulo ng lupa pero under pa rin po kay seller yung pangalan.. Sa tax declaration nya po na luma naka lagay po sa owner is yung dating may ari parin nung lupa, pero naka indicate din po dun is “HEIR: (pangalan po ng lolo ko)”.. tatay ko na po ngayon ang nagbabayad ng amilyar nung lupa. may documents pong hawak yung tatay ko na “Sworn Statement of True and Current Fair Market Value of Real Property” na nakalagay yung pangalan ng lolo ko as present owner ng lupa, nireceive ng Assesor's Office with rubber stamp.. pero po yung latest tax dec nya, nawala na po yung panglan ng lolo ko as HEIR… as of now, wala nman pong naghahabol na mga kamag anak nung seller ng lupa.. ano po kayang pwede naming gawin regarding this matter Sir/Ma'am???

    Like

  3. Good evening sir Geri! I'm Carla. I really find your site very helpful. Halos parehas ng case po yung saakin ni Shiela. Nangutang po ng money saakin kaya sinanla yung 2 title. Nagpanotary ako ng mortage agreement. Both signed. Hindi po siya nakabayad sa taning na panahon.

    Questions are…..

    Malaki po ba ang chances na mapasaakin yung title?
    Ano po ang dapat kong gawin para mapasaakin yung title?

    Thanks in advance 🙂

    Like

  4. Good evening sir Geri! I'm Carla. I really find your site very helpful. Halos parehas ng case po yung saakin ni Shiela. Nangutang po ng money saakin kaya sinanla yung 2 title. Nagpanotary ako ng mortage agreement. Both signed. Hindi po siya nakabayad sa taning na panahon.

    Questions are…..

    Malaki po ba ang chances na mapasaakin yung title?
    Ano po ang dapat kong gawin para mapasaakin yung title?

    Thanks in advance 🙂

    Like

  5. I think the old TCT remains valid but when you sell it, both spouse must agree to the sale and sign the documents as this is now conjugal property.

    Like

  6. I think ipaparevise yung title sa RD (re-assess etc) but it shouldn't affect your rightful claim of ownership to the property.

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  7. Good pm ask ko lang po. Nakapurchased akk ng lot 105 sqm tapos ko na sya bayaran yung down payment the remaining balance is tru pagibig na. Na found out na di pala maclose kasi instead na east naging west.kha may technical description error and yun din ang records sa bureau of lands. Ano po ang gagawin. Thanks.

    Like

  8. Hi Geri, just want to clarify… i own a parcel of land as evidenced by the TCT i have but it was issued when i was still single. Now i want to sell it, do i need to request with RD to change it to me and my wife or the existing title is valid? thanks

    Like

  9. This is a case of misleading developers. Try nyo na po lumapit sa HLURB baka they can penalize these developers and pressure them to expedite your case. Goodluck and God bless po.

    Like

  10. Best to inquire directly with BIR po since they need to see whether yung agreement sa MOA and binding (like if example they are sister companies etc). But as a general rule po, dapat yung mismong developer na binilhan nyo at gumawa ng bahay ang may permit, license etc.

    Like

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