I need your immediate HELP!!!

[Pierre_one]

Mga boss, I'm about to buy a second hand car, company name kasi ang nasa CR, bali I'm buying this from the 2nd owner. Ok lang ba na yung company name pa din ang nasa CR kahit may deed of sale na ang company at yung 2nd owner?

[confused shoes]

Ayos lang, may deed of sale naman. Hindi lang pina transfer ang ownership. Try mo kausapin yung first owner baka pwede pa cancel yung unang deed of sale then i-direct na sa yo para lalabas second owner ka pa rin.

[nujsimon]

I would have 2nd thoughts about buying that car. Possible kasi na may obligations pa ang current holder ng car from the said company. Di mo mapapa transfer sa name mo and sasakyan if ever. If you could at least ask clearance from the company na no obligations or no intrest na sila sa said vehicle.

[Pierre_one]

I would have 2nd thoughts about buying that car. Possible kasi na may obligations pa ang current holder ng car from the said company. Di mo mapapa transfer sa name mo and sasakyan if ever. If you could at least ask clearance from the company na no obligations or no intrest na sila sa said vehicle.

Bro may release of chattel mortgage na papeles yung seller tska promisorry note from the bank. Ok na kaya yun? Pwede kaya i-inquire sa banko kung wala ng utang yung previous owner?

[raine]

[QUOTE=Pierre_one;2067985]Mga boss, I'm about to buy a second hand car, company name kasi ang nasa CR, bali I'm buying this from the 2nd owner. Ok lang ba na yung company name pa din ang nasa CR kahit may deed of sale na ang company at yung 2nd owner?[/QUO
wala naman akong nakikitang problema, mas maraming papeles lang ang kailangan mo pag ipapatransfer mo na sa pangalan mo ang rehistro ng sasakyan. tanong mo na lang kung ano ang mga kailangan papeles pag transfer like ID ng previous owner., paano naman yung sa company?

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[QUOTE=Pierre_one;2067985]Mga boss, I'm about to buy a second hand car, company name kasi ang nasa CR, bali I'm buying this from the 2nd owner. Ok lang ba na yung company name pa din ang nasa CR kahit may deed of sale na ang company at yung 2nd owner?[/QUO
wala naman akong nakikitang problema, mas maraming papeles lang ang kailangan mo pag ipapatransfer mo na sa pangalan mo ang rehistro ng sasakyan. tanong mo na lang kung ano ang mga kailangan papeles pag transfer like ID ng previous owner., paano naman yung sa company?

[confused shoes]

Bro may release of chattel mortgage na papeles yung seller tska promisorry note from the bank. Ok na kaya yun? Pwede kaya i-inquire sa banko kung wala ng utang yung previous owner?

Pwede mo I-verify sa banko yan for the benefit of the doubt. Pwede mo rin ma-verify sa LTO kung may mga pending cases. Kahit i-text mo lang sa LTO. Saka kung updated naman ang rehistro nya, wala problema yan.

[fireblade]

Most replies that I have seen so far are wrong. Here are the things that you need to ask from the second owner you are dealing with :

- original OR / CR of the vehicle without any encumber notation
- TMG clearance between the company and the second owner
- corporate secretary certificate saying that the signatory on the deed of sale is authorized by the board
- ID photocopy of the signatory with original countersign on all copies at least copies
- company ID of the signatory will help
- release of chattel mortgage from the bank
- certificate from Registry of Deeds that entry from encumber has been cancelled

Goolduck with your purchase. You may also want to check with the Admin department of the company that car was bought from originally just to check the authenticity of the sale. Better be paranoid just to make sure all bases are covered.

You dont have to work hard, just work smart.

[Pierre_one]

Most replies that I have seen so far are wrong. Here are the things that you need to ask from the second owner you are dealing with :

- original OR / CR of the vehicle without any encumber notation
- TMG clearance between the company and the second owner
- corporate secretary certificate saying that the signatory on the deed of sale is authorized by the board
- ID photocopy of the signatory with original countersign on all copies at least copies
- company ID of the signatory will help
- release of chattel mortgage from the bank
- certificate from Registry of Deeds that entry from encumber has been cancelled

Goolduck with your purchase. You may also want to check with the Admin department of the company that car was bought from originally just to check the authenticity of the sale. Better be paranoid just to make sure all bases are covered.

You dont have to work hard, just work smart.

Thank you for your reply sir, I would also like to ask, ok lang ba kung walang cert from the registry of deeds? Ang meron lang is release of chattel mortgage, I have checked w/ the bank wala ng utang yung unang seller. Tska one more thing, namisplaced ng seller ang TPL insurance. Would I have any problems with it pag pinatransfer of ownership ko na? Nabili ko na kasi yung koche. Thanks!

[fireblade]

Thank you for your reply sir, I would also like to ask, ok lang ba kung walang cert from the registry of deeds? Ang meron lang is release of chattel mortgage, I have checked w/ the bank wala ng utang yung unang seller. Tska one more thing, namisplaced ng seller ang TPL insurance. Would I have any problems with it pag pinatransfer of ownership ko na? Nabili ko na kasi yung koche. Thanks!

NO certificate is needed from Registry of Deed provided that this has already been transferred to the 2nd owner. Meaning, the clearance was used for the transfer from the original owner to the second owner. Re TPL, its ok as you will only have to get another TPL under your name this time from about 1t pesos only.

Another possibility why he has no RD certificate is that the promissory note hasnt been cancelled with the RD and PN hasnt been closed yet. Meaning you will have to do it for the 2nd owner and cost is about 1500. Best to check this with the second owner.