Real assets, besides having distinct physical substance and properties, also have an attached intrinsic worth. These assets, which include real estate, commodities, precious metals, plants & machinery, arts, and collectibles; are not only often included in the diversified portfolios of investors, but also serve as collaterals for securing finance for personal or business purposes.
Amongst all the real assets, land or property assets are often the most valuable belongings of a consumer. Similarly, land is also an important factor of production for the business enterprises. Not only that the property assets serve the purposes of housing the industries, commercial enterprises, and the families alike, but they also serve as the most valuable collaterals for securing business or personal loans. It is the title of a property that conveys the ownership rights of a person to a specific property besides also being used to register any sort of charge/lien/pledge against any property when the same is used as a collateral. At times, other than the title of a property, several other legal documents may also be required to establish ownership, any limitation on the usage of a property and any other equitable interest in any specific property.
Since most of the original land titles and other associated documents (lease, registry, building approvals, construction drawings etc.) are made of paper, they are prone to being misplaced, lost, stolen, or even being illegally tampered. Further, these documents can also become brittle over time or get destroyed in unforeseeable events like fires, floods, weather effects, or other human or natural disasters.
All of the above means that the real estate consumers may be best served if some reliable third party provides the services for the safe storage of the real estate titles besides maintaining comprehensive property dossiers for the compilation of all relevant property documents and digitization thereof with embedded google earth features and 3-D imagery. This kind of service may also be useful for the upcoming digital banks or financial institutions, which may need to outsource the function of collateral management to focus only on their prime banking functions.
DCCL’s “e-Titles Repository” is a unique solution which aims to provide independent safe-keeping and digitization of property ownership titles services for the consumers, businesses, and financial institutions in Pakistan. ‘e-Titles Repository’ serves as one-stop solution for the secure handling of property ownership titles and digitization of all related paperwork in Comprehensive Property Dossiers (CPDS). Under this service, DCCL receives the original property ownership deeds/titles for safe storage, barcoding, digitization, and even annual monetization /valuation. Besides the benefits of easy trackability/traceability of property documents, the service is also aimed at enabling the consumers and businesses to become easily and efficiently loanable.