An Act to Amend Section One Hundred and Ninety-Eight of the Revised Administrative Code, as Amended by Republic Act Numbered One Hundred and Sixteen Relative to Registration of Chattel Mortgages

REPUBLIC ACT No. 2711

An Act to Amend Section One Hundred and Ninety-Eight of the Revised Administrative Code, as Amended by Republic Act Numbered One Hundred and Sixteen Relative to Registration of Chattel Mortgages

Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:

Section 1. Section one hundred and ninety-eight of the Revised Administrative Code, as amended by Republic Act Numbered One hundred and sixteen, is hereby further amended to read as follows:

Section 2. This Act shall take effect sixty days after its approval.

Approved: June 18, 1960.

Sec. 198. Registration of chattel mortgages and fees collectible in connection therewith. — Every register of deeds shall keep a primary entry book and a registration book for chattel mortgages; shall certify on each mortgage filed for record, as well as on its duplicate, the date, hour, and minute when the same was by him received; and shall record in such books any chattel mortgage, assignment, or discharge thereof, and any other instruments relating to a recorded mortgage, and shall such instruments shall be presented to him in duplicate, the original to be filed and the duplicate to be returned to the person concerned.

"The recording of a mortgage shall be effected by making an entry, which shall be given a correlative number, setting forth the names of the mortgagee and the mortgagor, the sum or obligation guaranteed, date of the instrument, name of the notary before whom it was sworn to or acknowledged, and a note that the property mortgaged, as well as the terms and conditions of the mortgage, is mentioned in detail in the instrument filed, giving the proper file number thereof. The recording of other instruments relating to a recorded mortgage shall be effected by way of annotations on the space provided therefor in the registration book, after the same shall have been entered in the primary entry book.

"The register of deeds shall also certify the officer’s return of sale upon any mortgage, making reference upon the record of such officer’s return to the volume and page of the record of the mortgage, and a reference of such return on the record of the mortgage itself, and give a certified copy thereof, when requested, upon payment of the lawful fees for such copy; and certify upon each mortgage officer’s return of sale or discharge of mortgage, and upon any other instrument relating to such a recorded mortgage, both on the original and on the duplicate, the date, hour, and minute when the same is received for record and record such certificate with the return itself, and keep an alphabetical index of mortgagors and mortgagees, which record and index shall be open to public inspection.

"Duly certified copies of such records and of filed instruments shall be receivable as evidence in any court.

"The register of deeds shall collect the following fees for services rendered by him under this section: