The reason for the rotten tail of Lingshui villa group in Hainan is the formalities, and the property rights cannot be done. According to China Legal Network, Hainan Lingshui Villa Group cannot handle property rights. According to national laws and policies, real estate without title certificate is not allowed to be traded. Because our country stipulates that the sale of real estate requires the registration of ownership transfer, that is, the so-called "ownership transfer", the real estate without title certificate cannot be transferred, and the state does not protect the real estate transaction without households, which eventually leads to bad results. I suggest that you don't buy this kind of house, because without the title certificate, you can't borrow money, transfer ownership, or notarize, and the signed agreement is invalid.