as a rule of thumb, when buying a motorcycle in the second hand market, you always want to acquire it with a closed deed of sale—that is, with the deed of sale under your name as the vendee. the first thing you have to ensure when buying a used motorcycle—regardless of whether or not it has an open deed of sale—is to ensure that it’s registration papers are complete and up to date. be sure to double check all the documents—the official receipt (or) and certificate of registration (cr). if the motorcycle you’re looking at has an open deed of sale, the next order of business would be to carefully scrutinize the deed of sale itself. if any of these pieces of information are inconsistent, this is a definite red flat, and it may be a good idea to walk away from the deal.
it’s very important that the owner—the person whose name appears on the registration documents and the deed of sale—is a bonafide true person, with valid identification to prove it. the last thing you need to do, especially if the motorcycle you’re purchasing comes with an open deed of sale, is to close the deed of sale on the spot once the transaction has been completed. an open deed of sale is definitely a common sight in the second hand market. however, if everything checks out, and all documentation is up to date and original, then there shouldn’t be any problem when it comes to closing the deed of sale and having it notarized. we’ve covered transfer of ownership in a previous article, so be sure to check that out. do you want to be the first to know about the latest motorcycle deals?
below is an example of a deed of sale of motor vehicle for your personal use. know all men by these presents: that i, ________________________ (the vendor) of legal age, married/single, with residence and postal address at ________________________________ for and in consideration of the amount pesos: ______________________________ (p______________) philippine currency, receipt of which is hereby acknowledged from the __________________________ (the vendee) likewise of legal age, married/single, with residence and postal address at ______________________________ hereby sell, transfer and convey and by these presents sold, transferred and conveyed unto said vendee the following motor vehicle describe as follows: of which i am the absolute owner. i hereby warrant that said motor vehicle is free from any alien and encumbrances and that i will defend the title and right of the vendee from any claim of whatever kind or nature from the third persons. republic of the philippines) makati city ) ss.
cert./ date/place issued passport no. in testimony whereof, i have hereunto set my hand and affixed my notarial seal on the date and at the place first above written. ______; page no. ______; book no.
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