If your documents are incomplete it simply means your property acqsition is incomplete. Incase a legal tussle comes up in future one may end up losing his properties. So it's always proper to verify and get all the needed documents.
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First of all I cant or I will never buy a property not having the full documents to back it up as mine, because anyone out there with the complete documents could come in and claim the property tho.In recent years, we have probably seen house and structures been brought but after some few years..they get collected by the government or there's a dispute between 3or more buyers of same property.
What are the real hazards that face a person buying such property.
yes it is very risky, to get such property you have to be wise enough make good investigation before you go make purchase for such property.You buying such property you are putting yourself in a very big risk. such property might be owned by two different people and the other might come to drag the property with you.
A relative wanted to buy a lot that has no title but only rights that is a piece of paper signed by the head of the community government called Barangay. I advised against it even if he said that 300,000 pesos is worth the risk - that's around $6,000. Fortunately he didn't buy and after a few years some of his friends who bought land there were complaining that they were scammed.It is not advisable to buy houses or even properties in general without complete documents. You can lose your money tomorrow if you buy a house with incomplete document. That is the reason why it is good for people to always seek for documents of what I want to buy.