Case Study - Section 4, Rule 74 Rules of Court

CASE STUDY :

A Property owned by a Widow went through Extra Judicial Settlement back in 1998.  When the new Title was issued, the following was inscribed on the front of the new Title :

“rights of any other legal heirs or claim of any creditor of the deceased, ( Name of Deceased ) should there be any within the period of 2 yrs. provided by Sec. 4, Rule 74 of the Rules of Court.”

Take note Sec. 4, Rule 74 is considered a LIEN by All or most banks.

So I looked for a cancellation of this annotation as we have to be prudent on any issues that may arise should a sale push through, thus a CLEAN TITLE.

What I saw was the following :

Entry No. xxxxx – Verified Petition for Cancellation of Lien – executed by ( Widow’s name ) requesting for the cancellation of 2 year period inscribed on the face of this title in accordance with Doc. no. XXX, Page XX, Bk. XX, s. of 2006 of Not. Pub. for Tanauan City, ( Name of Notary ), dated XXXXXXX

Date of Inscription – XXXXXXXXXXX – 3:00 p.m.

Upon verification with our Lawyers, the above Entry isn't sufficient proof of cancellation of the annotation of Section 4, Rule 74 Rules of Court.  Register of Deeds must annotate the cancellation of Section 4, Rule 74 Rules of Court to confirm that the TITLE is  clear of any LIENS.

Please be guided accordingly.

www.robertgsarmiento.com

PRC REBL # 6569

PRC Lecturer’ License # 0294

 

 

 

 

 

 

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Robert G. Sarmiento Properties
Professional Affiliation :
Philippine Association of Real Estate Boards
Member, City of Taguig Real Estate Board 2016 - 2019
Real Estate Broker’s Association of the Philippines 2000 - 2015
President, San Juan 2008, 2009
Philippine Association of Real Estate Boards
San Juan Mandaluyong Chapter 1998, 1999
PRC # 6569
PRC Lecturer’s License # 0294
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+ 632 5536051 ( trunkline )
+ 632 4781316 ( telefax )
+ 632 8561365 ( line 3 )
+ 632 8041701 ( line 4 )
+ 6325148481 ( mobile landline )
+ 63 917 5364829 ( globe )
 

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