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Re: Validity

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  • Re: Validity

    Is an mortgage agreement valid if only the mortgagor signed the agreement? and is it questionable if the mortgagee filed the agreement to the Register of Deeds 15 years after the borrower signed the agreement. The borrower mortgaged his property in year 2000. He died March, 2015. The mortgage agreement was been filed to the Register of Deeds on July 28, 2015 and presented to Provincial Assessor on October 11,2015 then later presented to Municipal Assessor on October 14, 2015. I'm hoping for your quick response. Thank you

  • #2
    Re: Validity

    I wish to inform you that it is stated in Art. 1142 that a mortgage action prescribes after ten years. (1964a).

    AFF

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    • #3
      Re: Validity

      ...meaning of course that the mortgage action may be too late by the plaintiff and might possibly not be allowed for that very reason.

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      • #4
        Re: Validity

        Originally posted by AFFA View Post
        I wish to inform you that it is stated in Art. 1142 that a mortgage action prescribes after ten years. (1964a).

        AFF
        does the agreement requires the mortgagor and the mortgagee to sign?

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        • #5
          Re: Validity

          This mortgage was done in year 2000. The mortgagor wrote to his successor in 2003 saying the mortgage was already been paid off in the form of a land title (another property of the mortgagor) with a value of more than the sum of the borrowed money but the proof is nowhere to be found because the mother of the mortgagee took it going back to Hawaii. The two parties were cousins. The mortgagee, mortgagor and mother of the mortgagee were all dead. When the mortgagor died, the siblings of the mortgagee pursue the mortgage without coordinating with the successor of the mortgagor but want to foreclose the property.
          Is the said letter can be of help? Please I need advise.

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          • #6
            Re: Validity

            I wish to inform you that you may present to the Court such credible evidence that supports your view point. This may include the facts that the mortgage has been settled with another piece of land and the action is time-barred. You may contact an attorney and seek guidance.

            AFF

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