Pawning Land Title

[earthlyken]

Hello fellow tsikoters,

My sister in law was wondering what does she need to make her transaction with their co worker work.

- Co worker want to have their land title pawn (sangla) for 500k (Land title is under co worker).
- My sister in law don't know what document and process she need.

Hope someone can give a step by steps process.

TIA.

[lowslowbenz]

Go to the Register of Deeds and obtain a duplicate of the land title. There you can check if the title is indeed under the name of the owner or otherwise.

This is the FIRST step. Establish proof first that the land title is clean. Marami nagkalat na fake land titles ngayon.

Of course, there is a corresponding fee. And yes, depending on where the RD is, babalikan ninyo.

IIRC, sa Nasugbu RD, I paid php 750 per land title that I had authenticated.

[earthlyken]

Hello Sir,

Nice to chat with you again, anyway..yes we already obtain Certified true copy of the title and is under the co worker name.

yung mga nababa kopo kasi na pag isasangla yung land title, they usually stamp the back part of the title, hinde kolang alam papano process nun, do we need to sign a contract to mortgage then have it notarize? if yes what will be our next steps.

kung kotse lang eto...madali lang sana...hehehe

[lowslowbenz]

^

Ah, ok.

Gusto nyo lagyan ng annotation sa likod ng title. Sorry, no idea how that works.

If may kilala kayo na lawyer, I think he/she can help.

Sorry if I will sound usisero, pero, ano ba classification ng lupa? And how big is it?

[earthlyken]

Its 155 sqm house and frontage niya may 2 store at the back of farmers cubao po..

they want to pawn it para mapaayos nila yung property to make more room for rental business nila..

my sister in law want to help pero shempre yung asawa niya hinde papayag ng ganun lang, kaya they want to make it legal lahat...

[lowslowbenz]

^

I see. Abugado kailangan ninyo sir. Para legal and maayos ang lahat.

[earthlyken]

HAHA..

Thank you sir...that was my first opinion to them, but they want it to be cheaper...hehehe

but thank you sir for the time..

Stay safe everyone.

[dr. d]

Its 155 sqm house and frontage niya may 2 store at the back of farmers cubao po..

they want to pawn it para mapaayos nila yung property to make more room for rental business nila..

my sister in law want to help pero shempre yung asawa niya hinde papayag ng ganun lang, kaya they want to make it legal lahat...

they're pawning 155 sqm of back-of-farmers-cubao property for a measely 500K???
pisces... pisces...

[Lew_Alcindor]

they're pawning 155 sqm of back-of-farmers-cubao property for a measely 500K???
pisces... pisces...

yun din naisip ko. kala ko sa probinsya.

baka nga pwede pa nila colateral yan sa banko.

[earthlyken]

Hello Guys,

would like to ask how much is the rate if ever gumawa kami ng deed of sale and have it notarize, pero hinde namin ililipat sa name namin pa...how much kaya penalty nun per month or per year rate nila?

Pease advise..

TIA

[lowslowbenz]

So you're buying the lot now for 500K? ... mura ha.

[Lew_Alcindor]

Hello Guys,

would like to ask how much is the rate if ever gumawa kami ng deed of sale and have it notarize, pero hinde namin ililipat sa name namin pa...how much kaya penalty nun per month or per year rate nila?

Pease advise..

TIA

open deed of sale?

i'll be honest. i sensed that you really want this pawning arrangement to push through with the hope that the pawner (land owner) will not be able to pay, then forfeiting a prime property in your favor at a relatively cheap amount.

why not just tell the pawner to go to the bank and have a loan. free yourselves from the hassle.

[dr. d]

Hello Guys,

would like to ask how much is the rate if ever gumawa kami ng deed of sale and have it notarize, pero hinde namin ililipat sa name namin pa...how much kaya penalty nun per month or per year rate nila?

Pease advise..

TIA

errr... they're pawning it po. they're not selling it.
ask a real estate lawyer or licensed realty agent, the pasikot-sikots of such an arrangement. you'll be surprised. one thing, 'though. leave nothing to chance. there must be only one interpretation possible. the rules of the agreement must be clear and in black and white.
the rates and conditions? it's what the pawner and pawnee agree on, po.
make sure all procedures are followed. baka ma-technical kayo kung may hindi malinaw na naka-saad sa kuntrata.

500K for such a prime property... i smell something fishy.

[_Qwerty_]

baka di nila masanla sa banko kaya sayo lumapit??

[Lew_Alcindor]

Hello Sir,

Nice to chat with you again, anyway..yes we already obtain Certified true copy of the title and is under the co worker name.

yung mga nababa kopo kasi na pag isasangla yung land title, they usually stamp the back part of the title, hinde kolang alam papano process nun, do we need to sign a contract to mortgage then have it notarize? if yes what will be our next steps.

kung kotse lang eto...madali lang sana...hehehe

baka di nila masanla sa banko kaya sayo lumapit??

nakapangalan naman sa tamang tao yung titulo. baka bagsak sa credit investigation?

[dr. d]

a question (because i do not know the answer).
does the certified true copy indicate if the property is mortgated, or that someone besides the "owner" is challenging ownership ?