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chattel mortgage

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1 chattel mortgage on Wed May 22, 2013 10:43 am


Arresto Menor
dear atty. good a,m.po.nais ko po tulungan nyo
ako sa problema ko. ito po ay tungkol sa liteace na ginawa naming collateral sa banko.payable po within 18mos.
napagkasunduan po namin na pagumabot po sa 3buwan yong delay namin ay babatakin po nila.So umabot ang 3 buwan pinabatak po namin yun sasakyan.Nang nagkapera po kami ay pumunta po kami sa banko para tubusin, ang sabi nila naibenta na daw po nila yung sasakyan.
Tanong ko po atty. pwede po ba nila ibenta ang sasakyan ng hindi sinasabi sa amin? at wala pa naman 18mos.
Maraming salamat po atty. and GOD bless your office po.

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2 Re: chattel mortgage on Thu May 23, 2013 5:16 pm


unfortunately they do have that right. when you allowed them to take it back, that extinguished your debt but they became absolute owner of the vehicle. the nature of chattel mortgage is like a conditional deed of sale.

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