Re: Release of Chattel Mortgage

[frake]

Hi to all tsikoteers,

im on the road checking on 2nd hand cars and decided to get an Escape. We'd checked several vehicles and may nagustuhan kami ni misis kaso medyo masalimuot ang papel. mangyayari magiging 4th owner kami. So we dropped the deal.

Meron kami nakitang escape na white. 2006 model and ok din yung unit kaso mas mahal. Kaya namin ni misis i-consider yung price, the problem is the paper na naman. The 2nd owner provided me a copy of the vehicle's docs with ORCR, Release of chattel mortgage & open DOS. What's holding me is, the CR shows the vehicle is "Encumbered" to PSB...kaso bakit sila may Release of Chattel Mortgage?...is it possible? So i checked with PSB, kaso they cannot divulge any information daw about the authenticity of Release of Chattel Mortgage copy. So i checked with LTO South Div. Eto sabi sakin ng babae. Pls see our phone conversation below, dun na po sa part ng subject.

woman: naka encumbered pa yung CR, naka mortgage pa'to sa banko
me: madam, meron din po kasi ako copy ng Release of Chattel Mortgage
woman: eh dapat ibalik dito yan para ma-cancel and encumbrance nyan
me: so possible po yun, ma'am? na meron ako hawak na Release of Chattel Mortgage pero sa CR may encumbrance pa?
woman: oo, kasi cina-cancel yan dito.
me: eh pag hindi ko po pina-cancel?
woman: ok lang naman, kaso hindi mo mapapalitan ownership nyan
me: so pwede ko po masabi na wala pong problema ang papel ng sasakyan?
woman: oo
me: eh pano po kung fake yung Release of Chattel Mortgage?
woman: yan ang hindi ko masasagot


So yan po ang problema ko, gustong gusto ko na talaga bilhin 'tong white escape. ano po ba pwede ko gawin?

Maraming salamat po!

[number001]

The Release of Chattel Mortgage document is needed to be registered with the Registry of Deeds then you need to process the change the LTO title using these.

Try this thread:

http://tsikot.com/forums/car-buying-...cedures-45992/

[Deobulakenyo]

The Release of Chattel Mortgage document is needed to be registered with the Registry of Deeds then you need to process the change the LTO title using these.

Try this thread:

http://tsikot.com/forums/car-buying-...cedures-45992/

ibinabalik ba sa nagloan ang amount ng chattel mortgage o hindi na?