The alleged dummy of Vice President Jejomar Binay, businessman Antonio Tiu could not prove ownership of the controversial Batangas property which made headlines earlier, according to the Senators and members of the Senate Blue Ribbon subcommittee during the hearing conducted on Wednesday, October 22, 2014.
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The businessman Antonio Tu was not holding the title of the man but he kept on stating that he owned the Batangas farm and not Vice President Jejomar Binay after paying P11 million for the property which is worth close to P450 million.
Philippine Senators, Antonio Trillanes IV, Alan Peter Cayetano and Senate Blue Ribbon subcommittee chairman Sen. Aquilino “Koko” Pimentel III castigated the businessman for claiming ownership of the land although he was not holding the title yet and it was not apparently a done deal.
According to businessman Antonio Tiu, the alleged owner of Sunchamp Real Estate Development Corp., stated that he acquired the 150-hectare Batangas property from Laureano Gregorio in a P446-million contract, which was subject to certain conditions.
Businessman Antonio Tiu clarified further that he has paid an P11-million down payment and issued postdated checks for the rest of the P446 million to Laureano Gregorio for the property.
When the businessman was asked whither he had any transfer certificate of title (TCT) for the property, he noted that he bought was the usurfruct, or the right to enjoy the use and advantages of the property. The TCT according to the businessman will be given to him upon completion of the deal.
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