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Chattel Mortgage

SAMPLE CHATTEL MORTGAGE CONTRACT

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Ray Jacinto Vigilia
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48 views4 pages

Chattel Mortgage

SAMPLE CHATTEL MORTGAGE CONTRACT

Uploaded by

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

BE IT KNOWN TO ALL:

This Chattel Mortgage is executed by and between:

_______________________, of legal age, Filipino, ______________


with the residence at _______________________________________,
known as the Mortgagor;

-and-

_______________________, also of legal age, Filipino, with


residence at ______________________________________________,
known as the Mortgagee;

CERTIFICATION:

This is to certify that the Mortgagor is indebted unto the Mortgagee in


the sum of FIVE HUNDRED THOUSAND PESOS (Php500,000.00),
receipt of which is acknowledged by the Mortgagor upon the signing of this
instrument, payable within a period of Three (3) months with interest of
FIFTEEN THOUSAND PESOS (Php 15,000.00) per month. With the said
interest to be deducted from the Mortgage amount upon execution of this
contract

Furthermore, for and in consideration of such indebtedness and to


assure the performance of said obligation to pay, the Mortgagor executes
this agreement under the terms and conditions stated below.

Hence, the parties agree as follows:


1. Mortgagor conveys by way of Chattel Mortgage unto the Mortgagee,
the following chattel now in the possession of said Mortgagor:
Quantity Series Model Serial/Motor No.

2. The Mortgaged vehicle shall remain in the possession of the


MORTGAGEE until the total debt has been Satisfied.

3. In case the Mortgagor fully pays at maturity the above-mentioned


indebtedness of (FIVE HUNDRED THOUSAND PESOS) Php
(500,000.00), together with its accrued interest, this chattel mortgage
shall become null and void and of no effect, otherwise, it shall remain
in full force and effect.

4. The MORTGAGOR agrees that failure to provide insurance on the


chattel or default of payment on any installment, or misuse of the
chattel, or sale thereof, shall constitute a breach of this contract.
For the foregoing reasons, the parties have set their hands, this
_____________ of 2024 at _________________________, Philippines.

Mortgagor Mortgagee

SIGNED IN THE PRESENCE OF:

AFFIDAVIT OF GOOD FAITH

We, the undersigned MORTGAGOR and MORTGAGEE swear that we


executed the foregoing Chattel Mortgage for the purpose of securing the
indebtedness specified in this Agreement and for no other purpose, and that
the same is a just and valid obligation and one not entered into for the
purpose of fraud.

In confirmation, the parties have set their hands, this


_______________________ at __________, Philippines.

QUENA C. DELOSTRICO KAT G. SORIANO


Mortgagor Mortgagee

SIGNED IN THE PRESENCE OF:

GM POTENCIANO GEORGE MONTANO


ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )


) SS.

BEFORE ME, a Notary Public for and in the City of Bacolod_,


__________________, 2024, personally appeared the parties with their respective
Government issued IDs:
1.

2.

Who are 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 own free act and
voluntary act and deed.

This instrument, consisting of (3) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page by
the concerned parties and their witnesses, and sealed with my notarial seal.

WITNESS MY HAND AND SEAL, at the place and date above-written.

Doc No. ________


Page No. _______ NOTARY PUBLIC
Book No. _______
Series of 2024.

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