What exactly is Open Deed of Sale?

**BoEinG_747** · October 18th, 2007 01:17 PM

Originally Posted by Altis6453

From what I know, dalawang klase 'yan.

One is an undated deed of sale but already signed by the parties. The other is what was discussed here which is a deed of sale but with the buyer not being indicated in the document.

The notary public will generally not sign the deed of sale which does not indicate the contracting party, unless the acknowledgement page specifically indicates that only one of the parties personally appeared before the notary. The effect is, the buyer will also have to notarize the document separately.

tama din si altis ..dumaan din kami sa ganitong proseso

**chain** · October 18th, 2007 01:42 PM

agree with above posts. blank ang name ng buyer along with his personal details. what usually happens is blank din ang price. puro fill-in the blanks na lang ang nangyayari.

we had a bad experience with this before. one time, sa amin naghabol ang isang victim ng traffic accident. as it turns out, our vehicle, which was already sold sa buy and sell, was part of an accident. nakabangga ng bata and patay daw.

good thing our lawyer was able to take care of this and spared us from any liability whatsoever. but lesson learned na din.

so, if you're planning to have one, just make sure na magsara kayo ng isa. (we have 4 copies between the 2 parties just in case.) o kaya, mag-side-agreement kayo.

**swordsman** · October 18th, 2007 02:42 PM

Originally Posted by av8or5

thanks for the reply. so pwede pala mag pa notarized ng deed of sale even if blank ang name ng buyer. so the price of notary depends on other factors..kasi i heard yung iba notary its like a % of the cost of the vehicle (like 10%), ang mahal naman if thats the case. last time i sold my car, it was thru a friend, sya na rin nag pa notarize.

any other tsikoteers have insights

1% po yata sir...though meron sa tabi tabi na mura rin.

**the_wildthing** · October 19th, 2007 07:20 AM

Kung buy and sell ang bumibili ng sasakyan mo, normal practice lang sa kanila yan. Pero kung ang bibili ang syang gagamit, dapat nakapangalan na agad.

If buy and sell, make sure you're dealing with an established buy and sell businessman.

**wrcastro_ph** · October 19th, 2007 10:19 AM

Originally Posted by chain

agree with above posts. blank ang name ng buyer along with his personal details. what usually happens is blank din ang price. puro fill-in the blanks na lang ang nangyayari.

we had a bad experience with this before. one time, sa amin naghabol ang isang victim ng traffic accident. as it turns out, our vehicle, which was already sold sa buy and sell, was part of an accident. nakabangga ng bata and patay daw.

good thing our lawyer was able to take care of this and spared us from any liability whatsoever. but lesson learned na din.

so, if you're planning to have one, just make sure na magsara kayo ng isa. (we have 4 copies between the 2 parties just in case.) o kaya, mag-side-agreement kayo.

I agree with this. I personally would not like to sell my car in open deed of sale.

**GaLynxmo** · October 24th, 2007 05:37 PM

Originally Posted by the_wildthing

Kung buy and sell ang bumibili ng sasakyan mo, normal practice lang sa kanila yan. Pero kung ang bibili ang syang gagamit, dapat nakapangalan na agad.

I just cant belive this is happening. But an "open deed of sale" is nothing more than a piece of worthless paper because it is not intended to be registered as it does not bestow ownership right over the vehicle subject of sale. Worthless, because it cannot be considered a "Deed" or a public instrument because a party do not wish to confirm the sale, due to the absence of his name, signature, or personal circumstances, and thus cannot be notarized. Thus it poses some risks to the buyer who part with his money but do not get reliable title to the vehicle, though he may acquire possession of the car. But such possession may be considered illegal because, technically, he possesses somebody's property. And if the registration expires after a year and he get caught by a zealous LTO/TMG officer, the car maybe impounded and the driver be charged with carnapping, by using an unregistered vehicle. You can't present a worthless "open deed of sale" to those officer, can you? And if accident befalls the vehicle, the real owner becomes liable, not the possessor.

Imagine, to avoid paying the transfer taxes and have the vehicle transferred immediately in his name, the buyer takes the risk of parting with his hard earned money, and the risk of uncertain future for the use of the vehicle while remaining unregistered in his possession? Word of advise, never enter into such a deal! Really, NO to such a DEAL.

**hominid** · October 26th, 2007 05:05 PM

Originally Posted by GaLynxmo

Imagine, to avoid paying the transfer taxes and have the vehicle transferred immediately in his name, the buyer takes the risk of parting with his hard earned money, and the risk of uncertain future for the use of the vehicle while remaining unregistered in his possession? Word of advise, never enter into such a deal! Really, NO to such a DEAL.

......noted!

**speedtrap** · January 2nd, 2012 11:16 AM

Hi! I've just purchased a used car. First time car owner and driver me, still learning

Very informal yung deal (from a relative's friend kasi).
Binigay ko lang yung bayad ko, then binigay nya yung OR and CR.

The seller is the 2nd owner, the car is already registered to his name. (yun kasi yung nasa OR and CR, tama po ba?)

Usapan namin, to follow na lang ang deed of sale.

Question po:
1. ok lang ba na i-drive ko yung car ng wala munang deed of sale? as long as nasa akin yung OR and CR and registered ang car?
hindi po ba problem yun sa mga checkpoints?

2. kung magpapa-deed of sale na, yung closed or notarized deed of sale, fill-up ko lang yung deed of sale template with all the
details then punta lang sa notary public, pag na notarized na, ok na po ba yun? (how much po normally ang fee sa notaryo
let say nabili yung car ng P290,000)

3, ok lang po ba kung hindi ko muna ipa-transfer sa name ko yung car? (pagkaka-alam ko may bayad pa kasi un)

4. kapag due for registration na, ma-re-register naman po ba yun pero sa name pa rin ng seller?

5. I plan to sell the car after a year, recommended po ba na open deed of sale na lang? (no need po ba ipa-notarize?)

Thanks!

**1D4LV** · January 2nd, 2012 11:02 PM

replies below....

Originally Posted by speedtrap

Hi! I've just purchased a used car. First time car owner and driver me, still learning

Very informal yung deal (from a relative's friend kasi).
Binigay ko lang yung bayad ko, then binigay nya yung OR and CR.

The seller is the 2nd owner, the car is already registered to his name. (yun kasi yung nasa OR and CR, tama po ba?)

Usapan namin, to follow na lang ang deed of sale.

Question po:
1. ok lang ba na i-drive ko yung car ng wala munang deed of sale? as long as nasa akin yung OR and CR and registered ang car?
hindi po ba problem yun sa mga checkpoints? - ok lang.... di naman kailangan ang DOS.

2. kung magpapa-deed of sale na, yung closed or notarized deed of sale, fill-up ko lang yung deed of sale template with all the
details then punta lang sa notary public, pag na notarized na, ok na po ba yun? (how much po normally ang fee sa notaryo
let say nabili yung car ng P290,000) - imho, mga 300 pesos.

3, ok lang po ba kung hindi ko muna ipa-transfer sa name ko yung car? (pagkaka-alam ko may bayad pa kasi un) - ok lang din.

4. kapag due for registration na, ma-re-register naman po ba yun pero sa name pa rin ng seller? oo. pati insurance, under the name ng seller.

5. I plan to sell the car after a year, recommended po ba na open deed of sale na lang? (no need po ba ipa-notarize?) - yun naman pala eh, hwag mo na ipalipat sa name mo... kuha ka na lang ng open deed of sale from your seller...

Thanks!

**kh4ii** · May 13th, 2016 10:22 PM

hi, sorry po if i have to re-open this thread, i am still not allowed to post new threads kasi..

so ito na nga, i bought a car with an open deed of sale. bali ang lumalabas 3rd owner ako nung car pero sa DOS 2nd owner. i was given 2 copies of DOS with the seller's (1st owner) signature and i also have all the original documents. ang problem kasi is hindi tinatanggap yung DOS namin kasi wala physically yung seller, i have found him (1st owner) eventually sa FB to meet up with him about this. pero ang tanong ko pwede ba na humingi nalang ako ng parang authorization letter from him na kami ang mag process nung notary kahit wala sya physically? or may iba pa bang notary ang natanggap ng pagnonotaryo kahit wala ung seller?