New and Used Car Talk Reviews Hot Cars Comparison Automotive Community

The Largest Car Forum in the Philippines



Page 2 of 2 FirstFirst 12
Results 11 to 16 of 16
  1. Join Date
    Oct 2002
    Posts
    20,069
    #11
    Quote Originally Posted by BlueBimmer View Post
    sows rent rent pa....kung walang extra cash, iloan na yan
    Wala nang pang-collateral

  2. Join Date
    Oct 2002
    Posts
    36,803
    #12
    Quote Originally Posted by boybi View Post
    Wala nang pang-collateral
    pwede si BB ang i-collateral mo..sigurado approved kaagad....

  3. Join Date
    Jul 2005
    Posts
    280
    #13
    by sequestered, do you mean it's undergoing foreclosure proceedings? or the bank already foreclosed and they bought the property at the auction?

    the rule is that a new owner of the property may terminate the lease if there is no notice on the title re the lease or he is not aware of the lease prior to the purchase. but a bank has a greater responsibility in determining the circumstances of a property, so i'd think the are or should be aware that the property was under lease before the foreclosure.

    if it was an extra-judicial foreclosure and the previous owner was a natural person (not a corporation), the ownership of the bank is not finalized until one year after the auction, but they have a right to possess the property immediately.

    i'd suggest informing the bank asap that you are leasing the property and getting an idea of their position regarding this to ease your mind. good luck!

  4. Join Date
    Jan 2005
    Posts
    3,208
    #14
    afaik if the bank knew of the existence of a lease contract over the property before ownership was transferred to them then they have to honor the lease.

  5. Join Date
    Oct 2002
    Posts
    20,069
    #15
    We didn't knew that the property that we were renting was mortgaged to a bank. It was only recently when the owner called that the bank would be conducting an inspection on the property that I found out it was mortgaged. Although it is very unlikely that the property might be foreclosed in the near future (the owner is very very rich). I just wanted to know if banks will honor the existing contracts of lease on properties that they foreclose, so that I'll know if we should make any more improvements on the property or not.

  6. Join Date
    Sep 2007
    Posts
    67
    #16
    Ask your lola. Madami yung katsika sa banko. I'm sure alam ng bank manager ang rules & laws applied with your case.

    Bigat naman problema mo. Ako problema ko lang kung pano i-operate yung PDA na ireregalo mo sa akin.

Page 2 of 2 FirstFirst 12
Contract of lease question