Registration of Mortgage

With the skyrocketing prices of commodities nowadays, purchasing a property is no longer a priority for most Filipinos. But then home is a basic need and you need to have one or else you will be renting for the rest of your life. Living in a rented space for many years seems to put one’s hard work in vain. It is because you pay the fee every month, but you won’t have any part of it despite the many years you have been renting.

You can actually own a property without having to pay for the full price immediately. It just takes some determination and courage. Businesses and many individuals usually seek the help of banks or trustworthy lenders to borrow money to purchase a property. The debt is referred to as a mortgage.

A mortgage is an acceptable and legal method wherein the lender gets hold of a collateral which will serve as a security interest in the property. It serves as a transfer of an equivalent interest in a property from the owner to the lender. It is covered by a condition that on the fulfillment of the terms, the interest will be returned to the owner. One can obtain this from the bank or from private individuals as lenders.

Lenders often use a mortgage deed when they give out money that will be used in purchasing a property. It provides them, being the lender, with the absolute legality in terms of right and interest in the property. If the borrower pledges his property or home as collateral, the lender’s ownership in the property is legalized in the mortgage deed.

You don’t have to have another property in order to provide security in the mortgage. You may pledge your newly-gotten property as security. You will promise to repay the loan along with any interest that it earns. It is your only way to obtain a loan to finance your purchase of a home. If you fail to pay the loan, the bank will claim the property because of the legal rights they have over the property. Your failure to repay gives the lender the right to sell out your property in which the proceeds from the sale will be used to settle the debt.

Considering the “power of properties” to obtain loans in order to purchase another property, it is a must that a mortgage be registered in the Registry of Deeds. Or else it can be used as a collateral for another loan, which could put the security of the previous deal in danger. For legality and security purposes, make sure that you (whether you are the lender or borrower) execute the following steps for the registration of mortgage:

  1. Execute the mortgage documents. Make sure that the conditions are made clear in the Deed of Mortgage. Aside from the name of the parties, it has to have the details of the property, the loan sum and repayment, the insurance, time for reconveyance of the property, default in repayment, compensation received for the property and if leasing of property is allowed.
  2. Secure an affidavit to be sworn by two witnesses in the deed. Aside from the Deed of Mortgage, an affidavit signed by two witnesses, in addition to the lender and borrower, is a document for it serves as a support to the deed.
  3. Get the document notarized by a notary public. Make everything legal and of value by getting the documents notarized by a notary public (lawyer). Most of the time, lawyers already get involved as early as in the preparation of the deed of mortgage. It is because they are the ones who are experts in law and legalities. You can be assured that your deal is carried out properly if you consult with a lawyer or expert in the field.
  4. Pay for the documentary stamps. Legal documents always come with documentary stamps. It is one proof that the deal was carried out properly and legally. Fees for the stamps are not fixed. It depends on the amount involved and other conditions.
  5. Pay for the registration fee in the Registry of Deeds Office. The Registry of Deeds is a government agency that makes sure that deals involving large amount and property are secured for the sake of all parties. Whether you are the lender or the borrower, make sure that your mortgage is registered and secured.
  6. Obtain the title for the mortgage. No individual has the right to just get hold of the title of the property not registered on his or her name. Getting the deed registered is the only way you can obtain the title of the property being mortgaged. This is the proof and your security being the lender.

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Below is the complete list of CG Garcia Appraisal and Land Title Services

Title Management

  • Land Title Transfer
  • Due Diligence
  • Consolidation/ Subdivision of Title
  • Registration/ Cancellation of Mortgage
  • Reconstitution of Lost Title
  • Amendment of Technical Description of Title
  • Cancellation of Annotation on Title

Record Management

  • Assist in the Assessment and Payment of Real Property Taxes
  • Land Conversion

Land Survey


  • Title and Tax Declaration Verification
  • Traceback of Ownership/ Due Diligence
  • Verification of Technical Description of Title

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