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Chattel Mortgage Sample

1) Denize C. Dangz borrowed 4 million pesos from Jacquelyn F. Maliaman and agreed to repay it in monthly installments over 7 years at 3% monthly interest. 2) As collateral, Denize mortgaged ownership of their 2015 Mercedes Benz E350 sedan to Jacquelyn. 3) The mortgage will become void if Denize repays the full amount owed, otherwise Jacquelyn can claim ownership of the vehicle.

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2K views2 pages

Chattel Mortgage Sample

1) Denize C. Dangz borrowed 4 million pesos from Jacquelyn F. Maliaman and agreed to repay it in monthly installments over 7 years at 3% monthly interest. 2) As collateral, Denize mortgaged ownership of their 2015 Mercedes Benz E350 sedan to Jacquelyn. 3) The mortgage will become void if Denize repays the full amount owed, otherwise Jacquelyn can claim ownership of the vehicle.

Uploaded by

rbon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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CHATTEL MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

I, Denize C. Dangz of legal age, single, with postal address at 123 Upper Pinget, Baguio City
known as the MORTGAGOR, and Jacquelyn F. Maliaman of legal age, single, with postal
address at 234 Dreamland Subdivision, Baguio City known as the MORTGAGEE, witness:

That the MORTGAGOR is indebted to the MORTGAGEE in the sum of FOUR


MILLION PESOS (P 4,000,000.00), Philippine Currency, receipt of which is acknowledged
by the MORTGAGOR upon the signing of this instrument, payable within a period of 7
years from the release of the borrowed amount. The payment shall be in instalment basis, that is,
Php 20,000.00 every 15th and 30th day of the month. The MORTGAGOR agrees to pay an interest
of 3% per month.

That for, and consideration of , this indebtedness, and to assure the performance of said
obligation to pay, the MORTGAGOR hereby conveys by way
of CHATTEL MORTGAGE unto the MORTGAGEE, his heirs and assigns, the
following personality now in the possession of said MORTGAGOR

MAKE : MER- MOTOR NO. :94215678654325


BENZ
SERIES : E350 SERIAL/CHASSIS NO. : AAA15678654325
TYPE OF BODY : 4dr. PLATE NO. : ABC 8123
YEAR MODEL : 2015 FILE NO. : 1234-54321

That the condition of this obligation is that should the MORTGAGOR perform the obligation
to pay the previously cited indebtedness of FOUR MILLION PESOS (Php 4,000,000.00)
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 have hereunto set their hands, this ____day of
____________ 20___ at ____ Philippines.

_______________________________ _______________________________
MORTGAGOR MORTGAGEE

IN THE PRESENCE OF:

_______________________________ _______________________________
ACKNOWLEDGEMENT

Republic of the Philippines)

Baguio City) S.S

BEFORE ME, personally appeared:

Name CTC Number Date/Place Issued

Denize C. Dangz 10000000 Jan 01, 2016 / Baguio City


Jacquelyn F. Maliaman 10000000 Jan 11, 2016 / Baguio City

Known to me and to me known to be the same persons who executed the foregoing instrument
and acknowledged to me that the same is their free and voluntary act and deed.

WITNESS MY HAND AND SEAL, on the date and place first above written.

NOTARY PUBLIC

Doc. No.______;
Page No. ______;
Book No.______;
Series of 20__.

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