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  1. Join Date
    Apr 2013
    Posts
    24
    #1
    HI MGA SIRS AND MAMS.

    - nakabili kasi kami ng kotse last week kaya lang may balanse pa ito sa BPI ng 100k plus so dun kami mismo nagbayaran sa bangko.
    tapos ngayon dumating na yung OR and CR kaya lang may encumbered na nakasulat at may kasama ito chattel mortgage tapos may instructions how to remove from mortgage.

    ngayon ang question po namin ay is it necessary na lakarin pa ito release of mortgage kasi mahabang proseso pa at additional gastos since may kopya naman kami ng chattel of mortgage from the bank.
    plano kasi ulit ibenta itong kotse sa pinsan namin kaya tinatanong niya at baka magkaproblema daw ito kung hindi na namin lalakarin itong release of mortgage.

    thanks in advance mga bossing

    Nick

  2. Join Date
    Oct 2002
    Posts
    15,528
    #2
    pwede namang hindi na, pwede din oo, kung gusto nyo.
    sa akin, i find it too cumbersome, not to mention, gagastos pa.
    basta complete ang documentations, including release of the chattel mortgage, ok lang.

  3. Join Date
    Jan 2008
    Posts
    4,726
    #3
    better have it released.. kasi pag tumagal at nagkalimutan magiging malaking problema yan lalo na nung huling nakabili

  4. Join Date
    Feb 2011
    Posts
    563
    #4
    If you already have the release from mortgage document from the bank, the next step is to go to the registry of deeds. This is usually the city or municipality where the original owner of the vehicle resided. At the registry you need to get the document that the vehicle is no longer encumbered. Just show all your bank documents. Once you have these 2 documents, just go to any LTO office to have the CR updated.

  5. Join Date
    Oct 2002
    Posts
    15,528
    #5
    Quote Originally Posted by rafmac View Post
    If you already have the release from mortgage document from the bank, the next step is to go to the registry of deeds. This is usually the city or municipality where the original owner of the vehicle resided. At the registry you need to get the document that the vehicle is no longer encumbered. Just show all your bank documents. Once you have these 2 documents, just go to any LTO office to have the CR updated.
    pag CR, you have to go to the LTO office where the car is originally registered. halimbawa, kung LTO Main office yung original registration, you have to go there.

    kaya nakakaasar... kumakain ng oras.

  6. Join Date
    Apr 2013
    Posts
    24
    #6
    maraming salamat po sa mga reply ninyo.
    highly appreciated po at malaking tulong ito.

    last question na lang po:

    pwede ba si buyer na lang ang magasikaso nito basta may deed of sale kami?
    thanks in advance po ulit

  7. Join Date
    Feb 2008
    Posts
    5,179
    #7
    Pwede and usually buyer talaga shoulder ng paper work. Basta complete release papers, madali lang gawin.

  8. Join Date
    Aug 2013
    Posts
    805
    #8
    Quote Originally Posted by 1D4LV View Post
    pag CR, you have to go to the LTO office where the car is originally registered. halimbawa, kung LTO Main office yung original registration, you have to go there.

    kaya nakakaasar... kumakain ng oras.
    Pwede naman nilang computerized at scan ang mga original documents. Ayaw lang nila dahil mahirap gumawa ng kalokohan kapag dumaraan sa computer. Iyan yung problema ng National Computer Center noon pa, ayaw pa-computerized ng mga sangay ng gobyerno para tuloy ang kalokohan nila.

    Sent from my GT-N7100 using Tapatalk 2

  9. Join Date
    Apr 2013
    Posts
    24
    #9
    Quote Originally Posted by e2romo View Post
    Pwede naman nilang computerized at scan ang mga original documents. Ayaw lang nila dahil mahirap gumawa ng kalokohan kapag dumaraan sa computer. Iyan yung problema ng National Computer Center noon pa, ayaw pa-computerized ng mga sangay ng gobyerno para tuloy ang kalokohan nila.

    Sent from my GT-N7100 using Tapatalk 2
    salamat po sa lahat ng nagreply

  10. Join Date
    Aug 2013
    Posts
    363
    #10
    For Car and House Insurance, the best deals are with MAPFRE Insular Insurance Corporation. Get comprehensive protection for the assets you worked hard for. Recover from the unexpected, and prepare for the future. PM me for any inquiries or assistance. Cheers!

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Chattel mortgage question