SHARING A COPY OF THE TITLE

Client: Juan, I have a question. A prospective buyer for my property is asking for a copy of the title. Should I give it to them? Is it safe?

Juan: Just to clarify, are you dealing with a broker or a direct buyer?

Client: A broker.

Juan: Have they submitted an offer that’s acceptable to you?

Client: No, they said they want a copy of the title before making any offers.

Juan: My suggestion is to require them to submit an offer first and provide sufficient identification details. You could also specify that the payment of earnest money will be subject to due diligence on the title. This way, they’re protected while safeguarding your interests.

(Moments later...)

Client: They said the title is a "public" document, so there shouldn’t be an issue providing it.

Juan: Yes and no. While the title is technically a “public” document, privacy laws prevent anyone from obtaining a copy without proper authorization. That said, some people may still manage to get it if they have “connections” at the Registry of Deeds. Even so, I wouldn’t just hand it over freely.

Client: Why? What could go wrong?

Juan: You’re asking a paranoid person. Haha.

Having a copy of the title could expose you to risks. Someone could annotate it, attempt to sell the property to unsuspecting buyers, or pass it on to other brokers or individuals who might do the same.

If they persist and you believe they’re serious buyers, you can provide a redacted copy by masking sensitive information, such as the title number and the owners’ full names, to minimize risks. However, if you personally know the broker and trust their discretion in handling sensitive documents, it may be acceptable to provide a full copy.

While the likelihood of fraudulent activities is slim, it’s better to err on the side of caution.