The Land Registration Authority (LRA) is urging holders of legitimate land titles to surrender their manual copies to the agency and convert their documents to the more secured electronic titles.
LRA Administrator Renato Bermejo reiterated the call Friday, pointing to the Notice to the Public memorandum issued last 24 June 2020 which ensure individuals their transactions would not bog down with the use of the digitized copies as compared to the manual titles.
Bermejo noted that the LRA’s Land Titling Computerization Project (LTCP) has already scanned around 16.6 million titles from its 159 registry offices nationwide. All scanned documents are now uploaded in the agency’s database.
“However, the scanned image in the system is not the title itself but is only the picture thereof. The title remains the paper title kept in the vault of the registry office,” he clarified in the circular.
Bermejo explained that the manual titles surrendered to the LRA would still be considered valid and existing as it is already certified as the document where the electric titles already in their vault have been lifted from.
“As of the recent time, of the 16.6 million titles nationwide, only 28.54 percent, or 4.7 million titles were upgraded to electronic title, leaving 71.46 percent, or 11.9 million titles in a paper title status,” he said.
Digitizing the documents, Bermejo asserted, “is even more needed because of the increase in transactions in the registries nationwide”.
For the year 2018 alone, there were a total of 2.7 Million transactions in the registries.
The LRA said the scanning of a title, including the encoding of the entries in the document, serves as a preparatory process before the upgrading of the title to Electronic Title.
When there is a transaction involving the title, be it sale, mortgage, or any transaction that requires annotation, pursuant to Sections 54 and 57 of PD 1529, the Office of the Register of Deeds through its Records Officer is required to find the title to ascertain that it still exists because when it cannot be found, the office has to recommend the filing in court of a petition for the reconstitution of the lost title before any transaction can move forward.
The completion of migrating all titles to their digitized version is also one of the indicators of the World Bank in the determination of the Philippine’s ranking in Doing Business among 190 economies. The other indicators include getting credit, taxes, enforcing contracts, resolving insolvency, among others.
This was backed by Department of Trade and Industry who stressed that converting paper titles to electronic titles would specifically improve the country’s Doing Business ranking.