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The Differences Between TCT and CCT

  • December 6, 2019

What are the differences between TCT and CCT?

  1. Transfer Certificate of Title
  2. Condominium Certificate of Title
  3. Ownership

 

If you have experienced buying property in the Philippines, regardless of what kind of property it is, you may have come across ‘property titles’ such as a transfer certificate of title (TCT) and/or a condominium certificate of title (CCT). Property titles entail rights, ownership, and other legal ramifications.

For those looking to buy property in the Philippines, knowing the difference TCT and CCT is crucial in ensuring a successful transaction. If you aren’t too familiar with the two, then continue reading because their definitions and differences will be discussed below.

 

Transfer Certificate of Title

Mortgage contract for sale of real estate property with a pen an

For starters, a transfer certificate of title (also known as a deed of sale or deed of absolute sale) is the property title of a given piece of land with or without a physical structure built on it.

It contains details pertaining to the geophysical elements of the land as well as it’s registration number and name of the owner. The transfer certificate of title authenticates the ownership of the land as well as the ‘air space’ in it, which is also called ‘air rights’, which gives the owner the right to build or develop in the air space above the property.

Furthermore, the TCT should also show the title’s transfer history which includes a record of previous TCT’s that were legally canceled due to the cycle of ownership.

 

Condominium Certificate of Title

contract form, selling and buying home or condo concept

Meanwhile, a Condominium Certificate of Title certifies the ownership of a condominium unit specifically. Similar to a TCT, a CCT states a condominium unit’s physical details such as its dimensions and measurements along with the floor number and unit number. The names of the property developers and the owner of the unit are also disclosed.

There is a spreading negative connotation associated with CCT’s because some townhouses have a CCT as their property title. However, there is no need to be concerned because this is a strategy done by real estate developers to cater to a wider market, specifically foreigners.

In the Philippines, foreigners are not allowed to buy properties unless they set up a corporation that has a 60% Filipino ownership. If that is the case for a property you are looking to buy, make sure to discuss it with the real estate broker you are working with to clarify the terms of the property title.

 

Ownership

interior of a condo

The difference between a CCT and TCT is that the former only conveys ownership of the air space of the property (e.g. The specific condominium unit located on the 19th floor of that specific condominium). Therefore, if you are buying a condominium unit, then your title should be that of a CCT.

If you are the owner of the land where a condominium is being built or the property developer itself, then a transfer certificate of title must be in your possession.

 

Key Takeaway

Now that you know the differences between a TCT and a CCT, you would also do well to know how to tell the authenticity of the property titles. Real estate fraud is a lot more common than you think, which is why you should be vigilant.

One way to do that is by going to one of the many Registry of Deeds located in the Philippines and letting them inspect the title. Another way to check is by asking a licensed real estate broker to do the verification.

Buying property in the Philippines is one of the biggest investment moves you can make. Knowing the different kinds of property titles prepares you for a smooth transaction and ensures that you are not taken advantage of.

Click the button below to get in touch with licensed real estate brokers who can help you out with the buying process!

 

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