MANILA: A task force to eliminate real estate fraud and malpractice was formed in the Philippines
The launch of the National Task Force on Anti-Illegal Real Estate Practice was announced on Monday, Philstar.com reported.
It will be monitored by the Department of Human Settlements and Urban Development (DHSUD) with the aim of ending coups through proactive measures.
The Departments of Justice, Homeland and Local Government and Environment and Natural Resources, Land Registration Authority, Professional Regulation Commission, Philippine National Police and National Bureau of Investigation are also part of the task force.
The head of DHSUD, Eduardo del Rosario, said through the interagency panel that the aspiration is to end fraudulent activities in the real estate and housing sector.
“Each of our partner agencies plays a crucial role in implementing a comprehensive program to address illegal real estate practices,” he said, adding that the task force will also lead public awareness activities and develop capacity building plans.
Rosario said public concerns amid rising cases related to illegal real estate practices led to the establishment of the task force.
Part of the task force’s responsibility is to protect the interest and livelihood of licensed real estate agents and developers, as well as to protect home buyers from being misled.