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Free Legal Advice Philippines » FREE LEGAL ADVICE » OBLIGATIONS & CONTRACTS | CREDIT TRANSACTIONS » Deed of Assignment and Voluntary Surrender of Motor Vehicle

Deed of Assignment and Voluntary Surrender of Motor Vehicle

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gunblue30


Arresto Menor

I have applied for a loan with my car as a collateral. Aside from the OR/CR and Chattel Mortgage, the forms on the packet include the Deed of Assignment and Voluntary Surrender of Motor Vehicle (for notarization).

Is this normal? The company is a reputable financing institution but I would just like to make sure that what I'm signing are legal forms to acquire a loan.

If it is, how will these be cancelled once I paid off my loan?

Thanks!!!!!!

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Free Legal Advice Philippines » FREE LEGAL ADVICE » OBLIGATIONS & CONTRACTS | CREDIT TRANSACTIONS » Deed of Assignment and Voluntary Surrender of Motor Vehicle

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