Free Legal Advice Philippines
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Land Deed used for Personal Collateral Loan

2 posters

Go down  Message [Page 1 of 1]

cutman0122


Arresto Menor

I'm posing this question for a friend. Here is the situation. My friend who has been working abroad for years left the title (deed) to an area of land he owns in safekeeping with a relative. He has recently discovered this relative has used his land deed as collateral towards a personal loan with a third party (not a pawnshop or legitimate financing institution). Details are still uncertain, but there is a real possibility that the loan amount maybe too high for my friend to pay off. The relative who pawned the title (without prior knowledge of my friend, the actual land owner), has been delinquent with payments and quite possibly has no means, nor ever had the intention of paying off the loan. Question is, did the relative have any right to use the land deed as collateral towards the loan? Does the provider (financier) of the loan have any legal rights with the deed that was used as collateral, since the actual owner of the land was unaware, nor did not authorize any sale or collateral loans with said property? Is the collateral loan legally binding, and is my friend, the actual owner of the land/deed liable for any part of this loan? What action or actions should my friend take? Thank you much in advance for taking the time and giving advice!!

cutman0122


Arresto Menor

Holy cow, 24 views and not one response. C'mon guys, aren't there any lawyers out there? (crickets, chirping in the background). Laughing

tekya1026


Arresto Menor

We have the same problem but mine is that it's my brother who pawned our house and lot title to a certain person without our knowing. The title is under my sister's name. Can we possibly get the title from the person since the pawning of the property was not authorized by my sister who is the owner of the house and lot. My brother stole the title from my mother's files. What actions should we take to get the title back? Hoping for an immediate reply. Thank you!

Sponsored content



Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum