Certification and Indexing of Related Transactions
- The Register of Deeds shall also certify the officer’s return of sale upon any mortgage.
- Cross-references must be made between the mortgage record and the officer’s return of sale in marginal notations.
- The Register must certify and record the date, hour, and minute of receipt for officer’s returns of sale or discharge of mortgages on both original and duplicate documents.
- An alphabetical index of mortgagors and mortgagees must be maintained, open to public inspection.
- Certified copies of records and filed instruments are admissible as evidence in any court.
Fees for Services Related to Chattel Mortgages
- The Register of Deeds is authorized to collect fees according to a detailed schedule:
- Filing of any document: ₱0.50
- Filing and recording of chattel mortgages fees based on mortgage amount:
- Up to ₱6,000: ₱3 for first ₱500 or fraction, ₱1 for each additional ₱500 or fraction
- ₱6,000 to ₱30,000: ₱17 for initial ₱8,000, ₱3 for each additional ₱2,000 or fraction
- ₱30,000 to ₱100,000: ₱55 for initial ₱35,000, ₱5 for each additional ₱5,000 or fraction
- ₱100,000 to ₱500,000: ₱127 for initial ₱110,000, ₱7 for each additional ₱10,000 or fraction
- Above ₱500,000: ₱410 for initial ₱520,000, ₱10 for each additional ₱20,000 or fraction
- Recording sale, conveyance, transfer of mortgage credit: ₱3
- Recording notice of embargo: ₱3
- Recording release of mortgage: ₱1
- Recording release of embargo: ₱1
- Recording sheriff’s return of sale (per 100 words): ₱2
- Certified copies of records: as allowed by law for register of deeds copies
- Issuance of certificate regarding registration book entries/documents:
- Up to 200 words: ₱2
- For each additional 100 words: ₱0.30
Legal Effectivity and Implementation
- This amendment takes effect immediately upon approval.
This Act comprehensively regulates the registration process and fee structure for chattel mortgages and related legal instruments, ensuring clear procedures, proper indexing, public accessibility of records, and standardized fees collected by Registers of Deeds.