Procedure of Change of Ownership

[swordsman]

Anyone has an idea how to TOTALLY RELEASE the vehicle from the bank? How about DEED OF REGISTRY? Will this make the vehicle totally free from the bank? What is the procedure behind this?

thanks

Chatel Mortgage Release from Bank, i think that's the total release you are referring to. Of course, you'll have to have the mortgage cancelled in the Registry of Deed and show them the release/cancellation from the bank. Next stop will be LTO to get a 'non-encumbered' CR, after showing them the cancellation of mortgage from the RD. Then next will be change of ownership to your name(TMG --> LTO process), where you'll need the Deed of Sale, primarily.

This is just based on experience, might be different from your case, so might as well call up LTO main to get their advise.