Fully Paid Your Car Loan? Here’s How to Cancel Your Chattel Mortgage in the Philippines (2026 Guide)

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Finishing a 3- or 5-year car loan is a major win. However, many owners forget that the bank still technically has a "lien" on the vehicle until the Chattel Mortgage is officially cancelled. Without a "Clean" CR, you cannot sell the car or transfer ownership. The Step-by-Step Process: Claim your Documents from the Bank: Once your final payment is cleared, contact your bank’s loan department. They will provide a "Release of Chattel Mortgage" (or Deed of Release), the original CR, and the original Official Receipt (OR). Visit the Registry of Deeds (RD): Go to the RD branch where the mortgage was originally registered (this is usually indicated on your CR). You will need to pay a cancellation fee. They will stamp or provide an annotation that the mortgage is now cancelled. LTO Annotation Removal: Take your annotated documents from the RD to the LTO District Office where your car is registered. You will need: Original CR and OR Release of Chattel Mortgage  V...
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Affidavit of One and Same Person

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Magandang araw po!


What if you have already submitted documents for processing at the Registry of Deeds, then they realized there is a problem in the name of one of the parties to the transaction?


Exactly, this happened to me while processing a Sale with Partition. The examiner noted that the Seller's middle initial is different from his provided government issued ID.

Affidavit of One and Same Person

They texted me, advising that they noted some discrepancy in the name. They further stated that scenarios like this requires court hearing. However, we will just try to settle this through an affidavit, Affidavit of One and Same Person. A marriage contract and birth certificate from PSA should also be attached to the affidavit to support. 


For your reference, Affidavit of One and Same Person:

REPUBLIC OF THE PHILIPPINES  )

                                                        ) S.S.

 

AFFIDAVIT OF ONE AND THE SAME PERSON

 

              I, __________________, of legal age, Filipino, married to ______________, and a resident of ________________________________, after having been sworn to in accordance with the law, depose, and state that:

 

1.     I was born to Spouses _____________ and ______________, on _________, in __________________. I was named in my Certificate of Live Birth/Report of Birth as ___________________, hereto attached as “Annex A”, for reference;

 

2.     I am married to __________________ since ____________. I have consistently used since then, in all my transactions, personal or otherwise, the name ______________________________;

 

3.     In Transfer Certificate of Title No. __________, my name appears to be ______________________, but should be _____________.  My marriage contract is hereto attached as “Annex B”, for reference;

 

4.     I am executing this affidavit to attest to the veracity of the foregoing statement to prove that ________________________ and ___________________ are one and the same person for whatever legal purpose it may serve;

 

                IN WITNESS WHEREOF, I have hereunto set my hand this ____ day of ______________, 2024 at    _______________________________.

 

 

______________________________

AFFIANT

 

SUBSCRIBED AND SWORN to before me, this ________day of _________________ at _________________________, affiant exhibiting to me her ________________________________ .

 

                                                                                                                          

 

                                                                                                                        NOTARY PUBLIC

 

Doc No.                                                                                                                   

Page No.

Book No.

Series of 2024




I have just submitted their requirements and we'll see if everything will be alright soon. Will get back to you for the result on this. Promise! 🥰


Salamat, will update you on this soon. God bless everyone!🙏


Pamanafromancestors💖




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