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    Chattel Mortgage

    Uploaded by

    Adriano Bahian Jr.
    This document is a chattel mortgage between a mortgagor and mortgagee. The mortgagor owes the mortgagee 1.2 million pesos and is conveying ownership of a 2018 Suzuki Mux vehicle, identified by plate number, chassis number, and engine number, to the mortgagee as collateral. The chattel mortgage will become void if the debt is repaid in full within 3 years along with 3% annual interest, otherwise it remains in effect to secure the loan. Both parties signed the mortgage on November 29, 2019 in Malaybalay City, Bukidnon to legally transfer ownership of the vehicle until the debt is settled.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Chattel Mortgage

    Uploaded by

    Adriano Bahian Jr.
    134 views3 pages
    This document is a chattel mortgage between a mortgagor and mortgagee. The mortgagor owes the mortgagee 1.2 million pesos and is conveying ownership of a 2018 Suzuki Mux vehicle, identified by plate number, chassis number, and engine number, to the mortgagee as collateral. The chattel mortgage will become void if the debt is repaid in full within 3 years along with 3% annual interest, otherwise it remains in effect to secure the loan. Both parties signed the mortgage on November 29, 2019 in Malaybalay City, Bukidnon to legally transfer ownership of the vehicle until the debt is settled.

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    Chattel mortgage sample

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    This document is a chattel mortgage between a mortgagor and mortgagee. The mortgagor owes the mortgagee 1.2 million pesos and is conveying ownership of a 2018 Suzuki Mux vehicle, identified by plate number, chassis number, and engine number, to the mortgagee as collateral. The chattel mortgage will become void if the debt is repaid in full within 3 years along with 3% annual interest, otherwise it remains in effect to secure the loan. Both parties signed the mortgage on November 29, 2019 in Malaybalay City, Bukidnon to legally transfer ownership of the vehicle until the debt is settled.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    134 views3 pages

    Chattel Mortgage

    Uploaded by

    Adriano Bahian Jr.
    This document is a chattel mortgage between a mortgagor and mortgagee. The mortgagor owes the mortgagee 1.2 million pesos and is conveying ownership of a 2018 Suzuki Mux vehicle, identified by plate number, chassis number, and engine number, to the mortgagee as collateral. The chattel mortgage will become void if the debt is repaid in full within 3 years along with 3% annual interest, otherwise it remains in effect to secure the loan. Both parties signed the mortgage on November 29, 2019 in Malaybalay City, Bukidnon to legally transfer ownership of the vehicle until the debt is settled.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    CHATTEL MORTGAGE

    KNOW ALL MEN BY THESE PRESENTS:

    This Chattel Mortgage, made and executed by and


    between:

    Mortgagor, Filipino, of legal age, single, and with address


    at Purok 5, Casisang, Malaybalay City, Bukidnon, hereinafter
    called “Mortgagor”

    -and-

    mortgagee, Filipino, of legal age, single, and a resident of


    Alberto Street, Heights Barangay 1, Malaybalay City,
    Bukidnon, hereinafter called the “Mortgagee”.

    WITNESSETH:

    That the mortgagor is indebted unto the mortgagee in


    the sum of One Million Two Hundred Thousand Pesos (P
    1,200,000.00), receipt of which is acknowledged by the
    mortgagor upon signing of this instrument, payable within a
    period of 3 year/s, with interest thereon at the rate of Three
    Percent (3%) per centum, per annum.

    That for and in consideration of this indebtedness, and


    to assure the performance of said obligation to pay, the
    MORTGAGOR hereby conveys by the way of CHATTEL
    MORTGAGE unto the MORTGAGEE, his heirs and assigns, the
    following property now in the possession of said
    MORTGAGOR:

    SERIES : 2018
    PLATE NO. : 123456
    MAKE : Suzuki
    CHASSIS NO. : 123456789
    ENGINE NO. : MM123456789
    TYPE : Mux

    That the condition of this obligation is that should the


    MORTGAGOR perform the obligation to pay the hereinabove
    cited indebtedness of One Million Two Hundred Thousand
    Pesos together with accrued interest thereon, this chattel
    mortgage shall at once become null and void and of no
    effect whatsoever, otherwise, it shall remain in full force and
    effect.

    IN WITNESS WHEREOF, the parties hereto have


    hereunto set their hands this 29th day of November 2019 at
    Malaybalay City, Bukidnon, Philippines.

    sgd sgd
    Mortgagor Mortgagee

    SIGNED IN THE PRESENCE OF:

    ACKNOWLEDGMENT

    Republic of the Philippines )


    City of Malaybalay ) S.S.

    BEFORE ME, a Notary Public, for and in Malaybalay


    City, Bukidnon, this 29th day of November, 2019
    personally appeared:

    all known to me to be the same persons who executed the


    foregoing instrument and hereby acknowledged to me that
    the same is their free and voluntary act and deed.

        This instrument consisting of three (3) pages, including


    this page on which this acknowledgment is written refers to
    a DEED OF SALE and has been signed by the parties and
    their witnesses and sealed with my notarial seal.

    WITNESS MY HAND AND NOTARIAL SEAL.


    Doc. No. 155;
    Page No. 68
    Book No. I;
    Series of 2019.

    AFFIDAVIT OF GOOD FAITH

    We, the undersigned MORTGAGOR AND MORTGAGEE


    hereby jointly and severally swear that we executed the
    foregoing Chattel Mortgage for the purpose of securing the
    obligations specified in the provisions hereof, and for no
    other purpose and that the same are just valid obligations
    and not entered into for the purpose of fraud.

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