Chattel mortgage question

[nickmar]

HI MGA SIRS AND MAMS.

- nakabili kasi kami ng kotse last week kaya lang may balanse pa ito sa BPI ng 100k plus so dun kami mismo nagbayaran sa bangko.
tapos ngayon dumating na yung OR and CR kaya lang may encumbered na nakasulat at may kasama ito chattel mortgage tapos may instructions how to remove from mortgage.

ngayon ang question po namin ay is it necessary na lakarin pa ito release of mortgage kasi mahabang proseso pa at additional gastos since may kopya naman kami ng chattel of mortgage from the bank.
plano kasi ulit ibenta itong kotse sa pinsan namin kaya tinatanong niya at baka magkaproblema daw ito kung hindi na namin lalakarin itong release of mortgage.

thanks in advance mga bossing

Nick

[1D4LV]

pwede namang hindi na, pwede din oo, kung gusto nyo.
sa akin, i find it too cumbersome, not to mention, gagastos pa.
basta complete ang documentations, including release of the chattel mortgage, ok lang.

[yapoy86]

better have it released.. kasi pag tumagal at nagkalimutan magiging malaking problema yan lalo na nung huling nakabili

[rafmac]

If you already have the release from mortgage document from the bank, the next step is to go to the registry of deeds. This is usually the city or municipality where the original owner of the vehicle resided. At the registry you need to get the document that the vehicle is no longer encumbered. Just show all your bank documents. Once you have these 2 documents, just go to any LTO office to have the CR updated.

[1D4LV]

If you already have the release from mortgage document from the bank, the next step is to go to the registry of deeds. This is usually the city or municipality where the original owner of the vehicle resided. At the registry you need to get the document that the vehicle is no longer encumbered. Just show all your bank documents. Once you have these 2 documents, just go to any LTO office to have the CR updated.

pag CR, you have to go to the LTO office where the car is originally registered. halimbawa, kung LTO Main office yung original registration, you have to go there.

kaya nakakaasar... kumakain ng oras.

[nickmar]

maraming salamat po sa mga reply ninyo.
highly appreciated po at malaking tulong ito.

last question na lang po:

pwede ba si buyer na lang ang magasikaso nito basta may deed of sale kami?
thanks in advance po ulit

[[archie]]

Pwede and usually buyer talaga shoulder ng paper work. Basta complete release papers, madali lang gawin.

[e2romo]

pag CR, you have to go to the LTO office where the car is originally registered. halimbawa, kung LTO Main office yung original registration, you have to go there.

kaya nakakaasar... kumakain ng oras.

Pwede naman nilang computerized at scan ang mga original documents. Ayaw lang nila dahil mahirap gumawa ng kalokohan kapag dumaraan sa computer. Iyan yung problema ng National Computer Center noon pa, ayaw pa-computerized ng mga sangay ng gobyerno para tuloy ang kalokohan nila.

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[nickmar]

Pwede naman nilang computerized at scan ang mga original documents. Ayaw lang nila dahil mahirap gumawa ng kalokohan kapag dumaraan sa computer. Iyan yung problema ng National Computer Center noon pa, ayaw pa-computerized ng mga sangay ng gobyerno para tuloy ang kalokohan nila.

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salamat po sa lahat ng nagreply

[nhiecah_nice29]

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