What exactly is Open Deed of Sale?

[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

[roxy_gurl]

Hi pwede matanong kung paanong processing ng papers ginawa nyo?

Hello. Hindi ko pa po nastart ang pagprocess.

[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

[digitsman]

Hello po
I'm planning to buy a second hand car din with an open deed of sale. Regarding sa fee ng notary, buyer po ba ang dapat magbayad or yung seller? What about other expenses sa transfer of ownership?

Thanks!

buhayin ko lng ito, waiting po for an answer.

[konichiwa888]

Hi, ask ko lng po itong scenario,

Owner1 sell car to Owner2 (Transaction 1 - 12 years ago)
Owner2 will sell car to Owner3 (Transaction 2 - present)

1. If Owner2 bought the car from Owner1 using a signature which is different from her signature now since Owner2 has changed her signature na since he is thinking na medyo madaling gayahin yun signature nya.
2. If Owner2 is single during transaction 1 and is already married in transaction 2, since when a girl is married, he will legally gets the surname of her husband.

Will any of these two scenarios faced a problem when transferring ownership of car registration at LTO?

[dr. d]

Hi, ask ko lng po itong scenario,

Owner1 sell car to Owner2 (Transaction 1 - 12 years ago)
Owner2 will sell car to Owner3 (Transaction 2 - present)

1. If Owner2 bought the car from Owner1 using a signature which is different from her signature now since Owner2 has changed her signature na since he is thinking na medyo madaling gayahin yun signature nya.
2. If Owner2 is single during transaction 1 and is already married in transaction 2, since when a girl is married, he will legally gets the surname of her husband.

Will any of these two scenarios faced a problem when transferring ownership of car registration at LTO?

yes, they can. changes in signature patterns over the years, can be a pain.

LTO actually compares the signatures of the deeds of sale against the signature on the CR.
if the signatures are different, you might have a problem convincing the authorities that the signatories are indeed whom they purport to be. i had one such problem. it was fortunate that the questionable signatory was still very much available and she did agree to make her signature more acceptable.
it is common medical knowledge that a person's signature may change over time, what with disease, illness and all that...

kapag kinasal, a number of them do not drop the maiden name, but instead add a hyphen and the married name after it. you can ask the signatory to do that.

one other thing that might get you into difficulty.
the IDs, sabi nang iba, must be un-expired during the time of transfering..

good luck.

[konichiwa888]

yes, they can. changes in signature patterns over the years, can be a pain.

LTO actually compares the signatures of the deeds of sale against the signature on the CR.
if the signatures are different, you might have a problem convincing the authorities that the signatories are indeed whom they purport to be. i had one such problem. it was fortunate that the questionable signatory was still very much available and she did agree to make her signature more acceptable.
it is common medical knowledge that a person's signature may change over time, what with disease, illness and all that...

kapag kinasal, a number of them do not drop the maiden name, but instead add a hyphen and the married name after it. you can ask the signatory to do that.

one other thing that might get you into difficulty.
the IDs, sabi nang iba, must be un-expired during the time of transfering..

good luck.

Sir, Thanks for answering my inquiries. For the new signature problem, will a notarized affidavit of one and same person solve this problem? By executing that affidavit you can attest that the two different signatures belongs to one persons only which is you. Do you think including it in the submission at LTO will help?

If anybody have this experience before, please share.

Thank you.

[dr. d]

Sir, Thanks for answering my inquiries. For the new signature problem, will a notarized affidavit of one and same person solve this problem? By executing that affidavit you can attest that the two different signatures belongs to one persons only which is you. Do you think including it in the submission at LTO will help?

If anybody have this experience before, please share.

Thank you.

personally, i find your proposed solution, "questionable".
anyone can make an affidavit, claiming that that he/she is the same person, and that it is indeed his/her signature, even if they are not.
ask the notary, po, if he has a solution.

exactly what is your problem with the car's provenance, sir?
do you have such problem, or are you just thinking of the possibilities?

if one has a potential issue with the papeles of the car on sale,
my suggestion is to simply walk away from it.
it is not worth the potential trouble.

[manuel_04]

Hi, ask ko lng po itong scenario,

Owner1 sell car to Owner2 (Transaction 1 - 12 years ago)
Owner2 will sell car to Owner3 (Transaction 2 - present)

1. If Owner2 bought the car from Owner1 using a signature which is different from her signature now since Owner2 has changed her signature na since he is thinking na medyo madaling gayahin yun signature nya.
2. If Owner2 is single during transaction 1 and is already married in transaction 2, since when a girl is married, he will legally gets the surname of her husband.

Will any of these two scenarios faced a problem when transferring ownership of car registration at LTO?

Kung nakapangalan na sa owner 2 ang CR, walang problema. Pero kung sa owner 1 pa, yung problema mo actually is yung signature ng owner 1 (yung registered owner).