Are there real danger in Open deed of sale

[torbiks]

up ko yung query...same situation here

Bumili kasi ako ng 2nd hand car pero tinatamad ako ilipat sa name ko. Kung ibebenta ko uli bigay ko lang yung unang deed of sale namin ng 1st owner, at bagong deed of sale ng namin ng buyer?

Pwede ba yun?

yes pareho tayo ng sitwasyon, gusto ko ding malaman kung pwede ba ito, kasi iniisip ko nang ibenta yung sasakyan ko. .

[manilenio]

the open deed of sale is actually THE deed of sale. the reason it's called an open deed of sale is because the previous owner filled it up completely with his information (name, address, signature) but the buyer did not, leaving the deed "open" to be filled up by anyone else prior to the actual transfer of ownership. when buying a car that is "open deed" make sure to check the signature on the deed of sale, and ask the seller to provide a photocopy of valid ID of the person who signed the deed of sale. also check if the person who signed the open deed is still alive (obviously). an open deed of sale can't be notarized until all the required information is filled-up (buyer and seller).

[manilenio]

also, make sure that the person whose name and signature appears in the "open" deed of sale is the same name on the CR. When buying a vehicle with an open deed of sale, the current owner and the buyer will make their own "informal" deed of sale between them, to signify the sale of the motor vehicle. The buyer will then have the option to transfer the vehicle to his name or keep it "open" until he decides to sell it again, where the process just repeats. What I don't know is, how valid the open deed of sale is especially if the "real" owner moves, goes abroad, dies, gets imprisoned, changes name (like in marriage).

[sekaj25]

also, make sure that the person whose name and signature appears in the "open" deed of sale is the same name on the CR. When buying a vehicle with an open deed of sale, the current owner and the buyer will make their own "informal" deed of sale between them, to signify the sale of the motor vehicle. The buyer will then have the option to transfer the vehicle to his name or keep it "open" until he decides to sell it again, where the process just repeats. What I don't know is, how valid the open deed of sale is especially if the "real" owner moves, goes abroad, dies, gets imprisoned, changes name (like in marriage).

this is also my dillema. im about to buy this car and its deed of sale is open

the seller do have the photocopies of the previous owner's drivers licence and company id,.the problem is during that time it is not required to put both parties TIN NUMBER on deed of sale,unfortunately they dont have previous owners tin number so can we still transfer this deed of sale to my name? my friend told me i might have a hard time registering this to my name as per LTO requires tin numbers of both parties on deed of sale

kindly help about this please. thanks

[vito corleone]

mostly gumagawa ng ganyan e yung mga buy-and-sell guys pa one less number of owners, patingnan mong maigi sa mekaniko mo ang unit. . .kung hindi sya papayag na chekin mo muna sa lto kung narehistro nga sa taong nakapirma sa deed of sale or sa tmg kung hindi hot car 'yan, maghanap ka na lang ng iba

btw, sigurado ka na ba na hindi biktima ni ondoy yang unit?

[KPH]

Bumili kasi ako ng 2nd hand car pero tinatamad ako ilipat sa name ko. Kung ibebenta ko uli bigay ko lang yung unang deed of sale namin ng 1st owner, at bagong deed of sale ng namin ng buyer?

Pwede ba yun?

Dami kasi ako naririnig may mga kopya sila ng open deed of sale e para kung sakaling ibenta uli.

Hi, bubuhayin ko ulit itong thread na to'...

I have a car kasi, bought 3 years ago ... yung binilihan ko presented me a already signed DEED of sale from the first owner (by the way, the car was not on their name, it was still named after the first owner, hindi naman hot car since I have asked a friend from LTO for the background) So filled-up na yung isa then I requested for 2 copies of this as well but "OPEN". They have it notarized that instant, so everything is ok!

Now, my question is..gusto ko ng ibenta yung kotse pero hindi ko alam kung anung ibibigay kong DEED of SAle...(well, legally speaking I know dapat yung notarized, meaning wala palang used yung 2 other copies na hinigi ko?!?) wala pa din kasi sa name ko yung kotse!

Does this mean I need to make another Deed of sale, stating I am the 2nd owner?

Thank you sa mga sasagot!

[dr. d]

regarding open deed of sale, a problem will arise when the car gets in trouble. legally, it is still the original owner who is responsible... that is why, all sellers must have with them, a copy of the deed of sale.
regarding a succession of owners without having really legally transfered ownership, the LTO authority said that the if latest buyer wants to have his name on the car, he must present to the LTO all the original deeds of sale, tracing the passage of ownership to him. i guess this means, the original open deed of sale must be handed over from one buyer to the next.. now if you want to avoid all this hassle, then buy only cars with "legitimate" deeds of sale. and cars whose legal owners are the sellers.

[lawrence22]

Hi Guys, Im Newbie and im planning to buy a owner type jeep 2nd hand for my dad,
and i read that the car is open deed of sale,
i just want to know what is open deed of sale?
i have no idea what is this?
is there any danger regarding open deed of sale?
is this legal?
what is anything might happen if i buy a car with a open deed of sale??
thank you so much for helping me ^^

[eman7]

Hello! Im planning to buy my 1st car which is a civic 95hatchback. The problem is that, there is no original CR just a photocopy, an open deed of sale ang original OR. I did try to use the LTO thru text and its good. Should I continue with the deal? Also the seller told me that he have requested a duplicate CR in LTO.

[dfopiso]

^ pwede nga yatang mag-request ng duplicate CR. Ano ang open deed of sale?