Included in your package are the following forms:
1. Satisfaction, Release or Cancellation of a Deed of Trust by a Corporation;
2. Satisfaction, Release or Cancellation of a Deed of Trust by an Individual;
3. Letter of Notice to Borrower of Status of Mortgage;
4. Letter to Recording Office for Recording Satisfaction of a Mortgage
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Cancellation of mortgage requirementsThe original certificate of registration with encumbrance.Release of chattel mortgage properly annotated by the Registry of Deeds.The latest official receipt of motor vehicle users' charge (MVUC) along with other fee payment.Taxpayer's Identification Number.More items...?
Encumbrances may be removed by replotting property lines, paying off a lien, or could be excused. The document to remove an encumbrance is called a reconveyance deed. The reconveyance deed conveys a clear title to the property owner.
Pick up the documents from the bank and pay the processing fee. Check all the documents and make sure they are complete and the promissory note with chattel mortgage has been marked fully paid. Bring the documents to the Registry of Deeds and apply for cancellation of chattel mortgage.
Step-by-step procedure:At the LTO Branch, tell the personnel that you would like to process the cancellation of encumbrance for your vehicle.Submit all the required documents: Release of Chattel Mortgage (duly stamped by the Register of Deeds) and the Official Receipt when you paid for the cancellation most especially.More items...?
Cancellation of chattel mortgage Registry of DeedsThe release of chattel mortgage involves the Registry of Deeds to cancel the mortgage or remove the encumbrance. Here, you will be asked to fill a registration application form that you can download and finish in advance.
