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1 DEED OF REAL ESTATE MORTGAGE W/ TITLE on Thu Jun 21, 2012 1:48 am


Arresto Menor

I HAVE A FEW QUESTION PO.. my friend recommended someone to me to loan some money.. we had a deal that his collateral would be his lot so we had this deed of real estate mortgage plus his transfer cert. of title.. since March 2012 until now june im not receiving any interest baesd upon sa agreement.


1.) What should be my first action? give him notice or directly file a case..

2.) what does Act No. 3135 means?

3.) if ever the Mortgator says that he had given some interest to his guarantor but i havent receive any centavo.. what should i do?

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2 Re: DEED OF REAL ESTATE MORTGAGE W/ TITLE on Thu Jun 21, 2012 2:02 am


Reclusion Perpetua
1. Demand payment. If unpaid, wait for the period to lapse and foreclose the mortgaged property.

2. It is "An Act to Regulate the Sale of Property under Special Powers Inserted in or Annexed to Real Estate Mortgages", meaning you might have been given the power to sell the property mortgaged.

3. Tell the mortgagor that you haven't received any payment. And for payment to be valid it must be tendered to you or to your authorized representative.

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