Procedure of Change of Ownership

**bogart_seph** · October 2nd, 2007 05:15 PM

tnx for the info!

**McLeor** · October 6th, 2007 01:06 PM

Mga sir,

Di ko nabasa sa thread yung case na ganito:

a. 1st owner had the vehicle from a company car plan, so surely registered under both the Leasing Company (Bank) and the Company.

b. 1st owner has not fully paid the CAR PLAn from the company (likewise the Bank leasing)

c. Now the car is put on sale, and the 2nd owner pays the 1st onwer. Now the vehicle will have a document trail as Bank - - -> Company release - - - 1st owner - - -> 2nd owner

d. The documents released by 1st owner are (1) Deed of Sale (2) Approval from Corporate secretary (3) Chatel Mortgage Release from Bank (4) CR under Bank name

Now the process of Ownership Transfer? Is it the usual TMG --> LTO route?

Because, by this route, the 2nd owner indeed transferred the ownership but received a BLUE CR (encumbered) and the OR still has the BANK NAME on it.

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

**franztorres21** · October 12th, 2007 01:43 AM

sir kelangan pa ba ng appearance ng car kapag papaverify ko lng kung hot car or carnap sa lto sa may pasay? balak ko kasi bilhin, eh hndi sya ung mismong owner, tito nya ung may ari na nasa ibang bansa na.. or ok lang na OR at CR lng and dala na xerox??

**swordsman** · October 13th, 2007 11:58 AM

Originally Posted by McLeor

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.

**swordsman** · October 13th, 2007 12:31 PM

Originally Posted by franztorres21

sir kelangan pa ba ng appearance ng car kapag papaverify ko lng kung hot car or carnap sa lto sa may pasay? balak ko kasi bilhin, eh hndi sya ung mismong owner, tito nya ung may ari na nasa ibang bansa na.. or ok lang na OR at CR lng and dala na xerox??

procedure talaga is kailangan nandun yong car kasi sa TMG mo i-ve-verify at dun mismo stensil yong engine/body number. so hindi ok na OR/CR lang dala mo sa mismong TMG.

i've heard na kung may kakilala ka sa LTO, they can check using the OR/CR if hot car, pero hindi TMG yon at hindi official, kung baga text text lang ang confirmation, so use at your own risk. kung sobrang mura bigay nya, magduda ka na sir.

personally, kung ako ang bibili, i'll stick with the legal procedure of taking the car to TMG for verification, before we close the deal. ang dami na kasing horror stories dito na nagka-problema sa papeles dahil hindi sinunod yong tamang process. lalo na yong mga nagbebenta na hindi pala sa kanila yong kotse, yong buyer ang naiiwan sa ire.

**bogart** · October 15th, 2007 10:33 AM

HG,

You've been a very good help in this thread! Here's my situation:

I bought a second-hand vehicle from a 3rd owner. He gave me a signed open deed of sale with a photocopy of his passport, as well as a notarized deed of sale from the 2nd owner to the 3rd owner and a notarized deed of sale from the original owner to the 2nd owner.

I had the registration checked at PNP-TMG (through text to a friend) for possible carnap or hot- vehicle status and the vehicle turned out clean. I also had the registration renewed for 2 year here in Las Pinas.

To summarize, these are what I have:

1. Notarized deed of sale from 1st owner to 2nd owner, with photocopy of 2 ID’s of the 1st owner;
2. Notarized deed of sale from 2nd owner to 3rd owner, no photocopy of ID of 2nd owner;
3. Signed open deed of sale from 3rd owner, with photocopy of 3rd owner’s passport;
4. The original CR/OR under the 1st owner's name

Will there be a problem if I will sell it to others without transferring the same to my name? Or is it better to transfer the registration to my name before I sell it?

Thanks in advance!

**1D4LV** · October 15th, 2007 06:45 PM

Originally Posted by bogart

HG,

You've been a very good help in this thread! Here's my situation:

I bought a second-hand vehicle from a 3rd owner. He gave me a signed open deed of sale with a photocopy of his passport, as well as a notarized deed of sale from the 2nd owner to the 3rd owner and a notarized deed of sale from the original owner to the 2nd owner.

I had the registration checked at PNP-TMG (through text to a friend) for possible carnap or hot- vehicle status and the vehicle turned out clean. I also had the registration renewed for 2 year here in Las Pinas.

To summarize, these are what I have:

1. Notarized deed of sale from 1st owner to 2nd owner, with photocopy of 2 ID’s of the 1st owner;
2. Notarized deed of sale from 2nd owner to 3rd owner, no photocopy of ID of 2nd owner;
3. Signed open deed of sale from 3rd owner, with photocopy of 3rd owner’s passport;
4. The original CR/OR under the 1st owner's name

Will there be a problem if I will sell it to others without transferring the same to my name? Or is it better to transfer the registration to my name before I sell it?

Thanks in advance!

sinong HG? hehehehehe.

actually, i don't see a problem if you are going to sell your car even though its not under your name, dahil may signed open DOS ka from the 3rd owner as well as the original OR/CR from the first owner.

its up to you na lang bro if you decide to transfer it to your name. one advantage i see is that hindi ganung kagulo yung papers mo pag binenta mo yung oto, dahil the only document that you will only need is the OR/CR in your name tsaka DOS between you and the buyer.

**edgarf2804** · October 17th, 2007 03:08 AM

hello , can u give me an advice para matransfer ko yung binili kong auto sa name ko. this is the situation, im her abroad, yung autong binili ko ng cash diyan sa pinas,the registration nasa pangalan ng biyenan ko at pangalan ko, bale yung pangalan niya ang computerised but my name nakatype written lang so when i verified the car from toyota hindi lumalabas pangalan ko sa computer nila. paanong procedure ang gagawin ko para malipat sa pangalan ko.it happened last year ito.

**swordsman** · October 17th, 2007 01:26 PM

Originally Posted by edgarf2804

this is the situation, im her abroad, yung autong binili ko ng cash diyan sa pinas,the registration nasa pangalan ng biyenan ko at pangalan ko, bale yung pangalan niya ang computerised but my name nakatype written lang

huh? dalawang name na nakalagay sa OR/CR? pano po nangyari yon?

...so when i verified the car from toyota hindi lumalabas pangalan ko sa computer nila.

paano po yang verification sa Toyota, di ba dapat sa LTO yan?

as far as i know, you'll need a deed of sale to transfer it to your name. tapos just follow the other steps on the transfer of ownership posted previously. naguguluhan nga lang ako sa dalawang name. pero ang alam ko, computerized na dapat ngayon mga OR/CR, malamang sa hindi, fake yong typewritten lang.

**edgarf2804** · October 17th, 2007 06:02 PM

Originally Posted by swordsman

huh? dalawang name na nakalagay sa OR/CR? pano po nangyari yon?

paano po yang verification sa Toyota, di ba dapat sa LTO yan?

as far as i know, you'll need a deed of sale to transfer it to your name. tapos just follow the other steps on the transfer of ownership posted previously. naguguluhan nga lang ako sa dalawang name. pero ang alam ko, computerized na dapat ngayon mga OR/CR, malamang sa hindi, fake yong typewritten lang.

Yes i verify my name sa toyota kasi when they do my 5k pms, i ask them about that then suddenly sinagot ako na sino ba daw ako so i learn na hindi ko pangalan yung sasakyan.and about sa OR/CR Its my salesman idea na ganoon daw gagawin, he told me na ok lang daw two name pero di ko alam na my name will not be computerised then when i rung toyota to ask where is my salesman and they keep on saying wala siya o hindi na siya nagtatrabaho doon. So i decided na uuwi ako this coming march 2008 to fix everything how many days it takes to transfer the car into my name kasi stay lang ako diyan for about 4 weeks. puwede bang itransfer yung name ko kahit wala ako diyan? what do you think guys the best solution to this? can you give me advice or idea so pagdating ko diyan sa pinas diretso kaagad ako sa pagaayos. thanks