Thursday, November 7, 2013

LRA stops centralized land title verification

THE LAND REGISTRATION Authority (LRA) has stopped the centralized verification of titles issued by other government agencies, it announced in a circular published in a newspaper yesterday.

Under LRA Circular 65-2013, the Central Office Verification Process (COVP) is no longer a mandatory requirement for the registration of titles and plans approved by other government agencies.

The LRA said the cessation of the process was "for the interest of service and in order to fast-track the processing of said transactions." The process was earlier enforced as part of the LRA’s Land Titling Computerization Project, which was aimed at preventing the issuance of titles with technical defects like open parcels, wrong areas and location, and duplicating or overlapping parcels.

Based on experience, the LRA noted the COVP heavily depended on documents from other government agencies, which usually delayed the processing of transactions by the LRA with its clients.

The LRA said the titles issued by other government agencies should also enjoy the presumption that its preparation, processing and approval of the titles are correct. -- M.F.E. Flores


source:  Businessworld

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Find updates by clicking Pages on the left.

Browse Down the Left Corner to see the Different Topics

Scroll Down to check-out Videos and Real Estate News

Or you can visit www.ra9646.com for more information.