CTS or Contract To Sell is a document that simply binds the Seller/Developer and the Buyer on a promise that the Seller/Developer will deliver a specific unit of real estate and the buyer is obliged of paying a specific amount in specific terms and duration. It is also your protection as a buyer from the inflation rate, the price increase of raw materials also from a wage increase of manpower, the price increase of the project, etc.
DOAS or Deed Of Absolute Sale is a transferring document that indicates that the transfer of property rights from Seller/Developer to the Buyer has legally transpired upon paying full selling price. It must be notarized, with Seller/Developer and Buyer’s Name, TCT No., Technical Description, and agreed Selling Price. It must be also taken to the Registry of Deeds to be recorded, this also will be the basis of the CCT or TCT.
TCT or Transfer of Certificate of Title is legal documentary evidence of the property rights of certain private land.
CCT or Condominium Certificate of Title is the legal document for a condominium unit. It contains the unit’s geophysical location with measurement, floor & unit no., name of the developer, and the owner’s name.
