A purchaser of an off-plan Unit has the legal right to apply to the DLD to verify their interest. Specifically, the DLD can create an entry on the registry folio of the land to denote that a sale agreement has been concluded between the purchaser an…
A purchaser of an off-plan Unit has the legal right to apply to the DLD to verify their interest. Specifically, the DLD can create an entry on the registry folio of the land to denote that a sale agreement has been concluded between the purchaser and the developer. This provides the purchaser with a documented legal standing against the property site. Additionally, depositors or their representatives have the right to access the accounting records of the project's escrow account to monitor their payments.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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