MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1417
FURTHER AMENDING SECTION 198 OF THE REVISED ADMINISTRATIVE CODE AS AMENDED BY REPUBLIC ACT NOS. 116 AND 2711, BY INCREASING THE FEES COLLECTIBLE IN CONNECTION WITH REGISTRATION OF CHATTEL MORTGAGES
WHEREAS, there has been an unprecedented increase in the cost of equipment, materials and supplies used by the Land Registration Commission;
WHEREAS, it is in consonance with sound fiscal policy that the registration fees collectible by the Land Registration Commission through its registries of deeds be adjusted accordingly.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree and order:
Section 1. Section 198 of the Revised Administrative Code, as amended by Republic Act Nos. 116 and 2711, is hereby further amended to read as follows:
"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...
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Presidential Decrees
Further Amending Section 198 of The Revised Administrative Code As Amended By Republic Act Nos. 116 and 2711, By Increasing The Fees Collectible in Connection With Registration of Chattel M
Presidential Decree No. 1417
Summary of Presidential Decree No. 1417
Increasing Fees for Registration of Chattel Mortgages
- Amends Section 198 of the Revised Administrative Code, as amended by Republic Act Nos. 116 and 2711, to increase the fees collectible by the Register of Deeds in connection with the registration of chattel mortgages.
- Duties of the Register of Deeds (Section 1):
• Keep a primary entry book and a registration book for chattel mortgages.
• Certify the date, hour, and minute when each mortgage is received.
• Record chattel mortgages, assignments, discharges, and other related instruments in the books.
• Certify the officer's return of sale upon any mortgage and provide certified copies when requested.
• Maintain an alphabetical index of mortgagors and mortgagees.
• Provide certified copies of records and filed instruments as evidence in court.
- Fees Collectible by the Register of Deeds (Section 1):
• Entry or presentation of any document in the primary entry book: ₱5 (Section 1(a)).
• Filing and recording each chattel mortgage: Fees based on a schedule ranging from ₱7 for mortgages up to ₱6,000 to ₱1,162 plus ₱30 for every ₱20,000 or fractional part thereof for mortgages over ₱500,000 (Section 1(b)).
• Recording instruments of sale, conveyance, transfer, or assignment of mortgaged property: 10% of the mortgage amount or unpaid balance (Section 1(c)).
• Recording notices of attachment: ₱8 (Section 1(d)).
• Recording releases of mortgage: 5% of the mortgage amount (Section 1(e)).
• Recording releases of attachment: ₱5 (Section 1(f)).
• Recording sheriff's return of sale: ₱7 (Section 1(g)).
• Recording powers of attorney, appointments, or other instruments granting authority related to a mortgage: ₱10 (Section 1(h)).
• Recording other instruments or orders relating to a recorded mortgage: ₱5 (Section 1(i)).
• Certified copies of records: Fees allowed by law for copies kept by the Register of Deeds (Section 1(j)).
• Issuing certificates showing the existence or non-existence of entries or documents: ₱5 for up to 200 words, plus ₱1 for every additional 100 words or fractional part thereof (Section 1(k)).
• Services rendered for requests for references or researches on documents: ₱2 per document (Section 1(l)).
- Effective Date: Upon approval (Section 2).
Increasing Fees for Registration of Chattel Mortgages
- Amends Section 198 of the Revised Administrative Code, as amended by Republic Act Nos. 116 and 2711, to increase the fees collectible by the Register of Deeds in connection with the registration of chattel mortgages.
- Duties of the Register of Deeds (Section 1):
• Keep a primary entry book and a registration book for chattel mortgages.
• Certify the date, hour, and minute when each mortgage is received.
• Record chattel mortgages, assignments, discharges, and other related instruments in the books.
• Certify the officer's return of sale upon any mortgage and provide certified copies when requested.
• Maintain an alphabetical index of mortgagors and mortgagees.
• Provide certified copies of records and filed instruments as evidence in court.
- Fees Collectible by the Register of Deeds (Section 1):
• Entry or presentation of any document in the primary entry book: ₱5 (Section 1(a)).
• Filing and recording each chattel mortgage: Fees based on a schedule ranging from ₱7 for mortgages up to ₱6,000 to ₱1,162 plus ₱30 for every ₱20,000 or fractional part thereof for mortgages over ₱500,000 (Section 1(b)).
• Recording instruments of sale, conveyance, transfer, or assignment of mortgaged property: 10% of the mortgage amount or unpaid balance (Section 1(c)).
• Recording notices of attachment: ₱8 (Section 1(d)).
• Recording releases of mortgage: 5% of the mortgage amount (Section 1(e)).
• Recording releases of attachment: ₱5 (Section 1(f)).
• Recording sheriff's return of sale: ₱7 (Section 1(g)).
• Recording powers of attorney, appointments, or other instruments granting authority related to a mortgage: ₱10 (Section 1(h)).
• Recording other instruments or orders relating to a recorded mortgage: ₱5 (Section 1(i)).
• Certified copies of records: Fees allowed by law for copies kept by the Register of Deeds (Section 1(j)).
• Issuing certificates showing the existence or non-existence of entries or documents: ₱5 for up to 200 words, plus ₱1 for every additional 100 words or fractional part thereof (Section 1(k)).
• Services rendered for requests for references or researches on documents: ₱2 per document (Section 1(l)).
- Effective Date: Upon approval (Section 2).