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January 8th, 2019 10:49 PM #11
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January 9th, 2019 01:30 AM #12Hi sir, how hassle po ba yung pag process ng release ng encumbrance? I fully paid my ecosport and plan to sell it pero di ko pa na process ang encumbrence.
My friend in casa told me that it would only cost around 2k and i can just offer less 5k for them to process the removal of encumbrance...
Hirap kasi nito, sa cebu ko na acquire ang loan so sa cebu ko din ipaprocess sa registry of deeds and im in bohol... grrr...
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January 9th, 2019 01:54 AM #13Hassle sya in terms of coordinating with different entities like the bank and the Register of Deeds. Pabalik-balik ka pa minsan if hindi maayos yung mga kausap. And like you mentioned, malayo pa yung dadayuhin ng buyer just to get the encumbrance cleared if same area kayo nakatira.
If willing yung buyer to work on it, then it's all good. Personally, I find it too much of a hassle and I would just ask the seller to finish all the paperwork beforehand.
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January 9th, 2019 09:56 AM #14^
Thanks!
Also Found a good read from a blog below about the process of encumbered cr...
What to do after the full payment of car loan | Moneymax.ph
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January 9th, 2019 01:48 PM #15had gone to a similar situation. actually in this case yun original na mortgagee sa bank is the one who will have to request or secure a 2nd release of mortgage from the bank where the loan was made.
my opinion is maabala masyado. you have to deal with the bank which in the first place hindi naman ikaw yun mortgagee so im not sure if mag papa authorize ka pa or something then another dealing with the RD to cancel the mortgage then lastly another deal with the LTO this time to transfer the CR to your name.
if the seller is unwilling to at least secure the second release of mortgage themselves then walk away from this deal.
In our case kami rin naman yun mortgagee kaya kami na nagasikaso nun nawala yun release.Last edited by babkalakal; January 9th, 2019 at 02:13 PM.
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January 9th, 2019 01:53 PM #16sounds correct around 2k lang removal ng encumbrance. you can sell the car naman tapos buyer na magpa remove ng Encumbered. mag usap nalang kayo if willing yun buyer as long as complete ang documents. ang mahirap lang kun tulad nun nawawala nga ang cancellation of mortgage or original cr and the like.
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January 9th, 2019 02:07 PM #17In case like this, deed of sale will be sufficient right (not open deed of sale)? Just incase accident will happen, it will be the buyer’s (name in the deed of sale) responsible already to settle the issue? ....
If that would be fine, i plan to have deed of sale stating all the facts about the docs that he will be receiving including all encumbered related docs...
This is not my first time to dispose a car however this is the first with encumbered cr plan to dispose...
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January 9th, 2019 02:13 PM #18
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January 9th, 2019 05:10 PM #19
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January 10th, 2019 04:24 PM #20
Production of the next gen Kicks confirmed .......
2025 Nissan Kicks