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Release of Deed of Release of Mortgage/Deed of Absolute Sale
Transfer Certificate of Title/Condominium Certificate of Title
and Tax Declaration
BORROWER/BUYER |
On scheduled date,
- Borrower returns to receive the Deed of Release of Mortgage (DRM).
- Buyer returns to receive the Deed of Absolute Sale (DOAS), and receive the corresponding Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT) and Tax Declaration (TD).
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ACCOUNT OFFICER / CUSTODIAN |
Prepares all documents to be released to the Borrower/Buyer: DRM/DOAS, procedure on the cancellation of annotation/ consolidation of the TCT/CCT and TD in the Buyer name. Releases documents: DRM/DOAS, and the corresponding TCT/CCT and TD.
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BORROWER/BUYER |
Receives DRM/DOAS, TCT/CCT, TD and procedure on the cancellation of annotation/consolidation of TCT/CCT and TD in the Borrower/Buyer name. Proceeds to Government Institution for the transfer process: Bureau of Internal Revenue, City/LGU Assessor's Office, Register of Deeds. |
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