Senate panel: Without TCT, Tiu does not own Batangas estate

As far as the Senate Blue Ribbon subcommittee is concern, businessman Antonio Tiu may not be considered as the real owner of a vast property in Rosario, Batangas as he does not have the transfer certificate title (TCT) under his name yet.

 

During the hearing of the subcommittee on Wednesday, Tiu said he bought the 150-hectare property from Gregorio Laureano, who still has to produce the TCT.

 

“We have paid P11 million (as downpayment). 'Yung next payment ay depende pa sa pag-produce ng titulo,” he told the subcommittee.

 

Tiu said he is paying for the property, which is worth P446 million, in installments.

 

Senator Aquilino Pimentel III asked, “Wala kang TCT?  Sa mata namin, hindi ikaw ang may-ari sa ngayon. Why are you here? Sana you consulted your lawyer muna regarding the ownership.”

 

Despite the absence of a TCT, Tiu said he already holds usufruct rights to the property, which allows him to develop the land for his agricultural company AgriNurture.

 

He said it was lawyer Martin Subido, his best friend and college classmate, who told him about the property being put up for sale by Laureano. Tiu got interested in the land because it had 3,000 mango trees, an asparagus farm, and a portion that could be used for lettuce production.

 

Subido said during the hearing that he was the one who introduced Tiu to Laureano, who owns the company AgriFortuna.

 

“It was just an introduction that I made. Both AgriFortuna and AgriNurture are clients,” Subido said.

 

Former Makati Vice Mayor Ernesto Mercado had testified at the Senate that the Batangas property is owned by Vice President Jejomar Binay, who has repeatedly denied the allegation.

 

Asked if he thinks Laureano is a dummy of Binay, Tiu said he did not do a background check on Laureano and was more concerned about the interest of the company. – VS, GMA News