(The Philippine Star) | Updated October 21,
2013 - 12:00am
MANILA, Philippines - The
multi-billion property sector has reached another milestone, as real estate
stakeholders have formally organized themselves to dialogue with key government
agencies for more efficient and transparent land transactions.
The Organization of Property
Stakeholders Inc. (TOPS) and government agencies led by the Land Registration
Authority (LRA) met last October 18 for the TOPS-LRA Summit 2013 in Marco Polo
Hotel, Davao City.
TOPS is a broad-based group of
organizations including real estate developers and brokers, banks and other
financial institutions, and government agencies involved in the
multi-billion-peso property sector.
The member organizations started out
as separate entities attending quarterly meetings with the LRA and discussing
pervading challenges in the property sector’s dealings with government
agencies. LRA administrator Eulalio Diaz III wanted to hear straight from the
private sector their common issues and experiences regarding property
registration processes and how those could be resolved or improved.
The stakeholders have been calling for
relevant reforms regarding slowness, bureaucracy, accountability and the need
for standardization in registration processes.
Eventually in 2011, Diaz suggested
that the stakeholders organize themselves and push through with their
initiatives as a group. He acknowledged that the organizations are key
collaborators and participants in the successful pursuit of LRA’s objectives of
modernizing and improving registration processes so it is only suitable to
partner with the sector in resolving property registration concerns.
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The series of meetings between the
group and the LRA resulted in the formation and incorporation of TOPS in 2012.
In light of the group’s call for a
simpler and smoother processing of property titles, TOPS president Michael
Jansen Abella noted that they are gearing towards enhanced collaboration with
government agencies, coming up with changes such as the implementation of
standardized forms and requirements in all Registries of Deeds (RD).
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