What exactly is Open Deed of Sale?

[Jbordallo]

Usually pag galing bank.. meron silabg biibigay na deed of voluntary surrender na pirmado nung original owner.. transfering all rights and interest sa bank kasi nga default ang loan. Tapos si bank bibigyan ka ng deed of sale with reference dun sa voluntary surrender plus release of mortgage kung cash mo binili.. kung loan ulit mas madali kasi yung bank na bahala sa processing..

Hindi nagbibigay ang bank ng open deed of sale

Eto po yung text nung nagbebenta sakin ng car na binili nya sa bank via bidding

"Eto ang hawak ko from the bank ( OR CR , Deed of Absolute sale between bank and me, Secretary's Certificate,with photo copy of ID, promssory note with chattel mortgage,Disclosure statement of loan credit transaction,chevrolet sales invoice,Certificate of sale from office of the clerk of court & EX-oficio sheriff,photo copy of ID previous owner,Cancellation of chattel morgage,photo copy of official receipt RD payment,Chevrolet cruze manual 2012 eto lahat ang papers from the bank na hawak ko."

Yung original receipt po ng RD is nakay bank photocopy daw po binigay sa kanya kasi pupunta daw po ng registry of deeds then ipapa cancel daw po doon yung previous RD then iisuehan daw po ako ng pani bagong original receipt ng RD.then one na binigay na yung bagong receipt pupunta na daw ng lto para sa transfer ng name sa CR

Tama and complete po ba?

Thank you sa response

[yapoy86]

Eto po yung text nung nagbebenta sakin ng car na binili nya sa bank via bidding

"Eto ang hawak ko from the bank ( OR CR , Deed of Absolute sale between bank and me, Secretary's Certificate,with photo copy of ID, promssory note with chattel mortgage,Disclosure statement of loan credit transaction,chevrolet sales invoice,Certificate of sale from office of the clerk of court & EX-oficio sheriff,photo copy of ID previous owner,Cancellation of chattel morgage,photo copy of official receipt RD payment,Chevrolet cruze manual 2012 eto lahat ang papers from the bank na hawak ko."

Yung original receipt po ng RD is nakay bank photocopy daw po binigay sa kanya kasi pupunta daw po ng registry of deeds then ipapa cancel daw po doon yung previous RD then iisuehan daw po ako ng pani bagong original receipt ng RD.then one na binigay na yung bagong receipt pupunta na daw ng lto para sa transfer ng name sa CR

Tama and complete po ba?

Thank you sa response

Nasan dyan yung sinasabi mong open deed of sale? May deed of sale between bank and 2nd owner.

Mukhang complete naman. Bale dadalhin mo yung cancellation of mortgage plus promissory note sa RD. May resibo yun intay ka mga 1 to 2 weeks then kukunin mo ulit yung cancellation of mortgage na may tatak na ng RD. Tapos dalhin mo sa LTO para sa cancellation of encumbrance kasama yung sasakyan OR/CR. Pwede sabay transfer mo na din kaya kuha ka ng TMG clearance then dalhin mo yung deed of sale ng bank to 2nd owner at deed of sale of 2nd owner to 3rd owner. Pwede yan simultaneous transaction. Just make sure na updated yung mga photocopy ng ID na hawak mo

[Jbordallo]

Nasan dyan yung sinasabi mong open deed of sale? May deed of sale between bank and 2nd owner.

Mukhang complete naman. Bale dadalhin mo yung cancellation of mortgage plus promissory note sa RD. May resibo yun intay ka mga 1 to 2 weeks then kukunin mo ulit yung cancellation of mortgage na may tatak na ng RD. Tapos dalhin mo sa LTO para sa cancellation of encumbrance kasama yung sasakyan OR/CR. Pwede sabay transfer mo na din kaya kuha ka ng TMG clearance then dalhin mo yung deed of sale ng bank to 2nd owner at deed of sale of 2nd owner to 3rd owner. Pwede yan simultaneous transaction. Just make sure na updated yung mga photocopy ng ID na hawak mo

Salamat po sa malinaw pag explain