Question Regarding Car Registration At Lto

[Dave Hounddriver]

Just noticed this thread.  No need to change ownership or registration until the old registration expires.  EXCEPT that the notarization of the contract will expire (usually on dec 31 of that year).  Strange but true.  Look at the notary's stamp to see when it expires and if you do not complete everything by then you need to contact the seller and get him to sign a new document and get it notarized.  Been there and done that and it is not fun.

[johnb]

Just noticed this thread.  No need to change ownership or registration until the old registration expires.  EXCEPT that the notarization of the contract will expire (usually on dec 31 of that year).  Strange but true.  Look at the notary's stamp to see when it expires and if you do not complete everything by then you need to contact the seller and get him to sign a new document and get it notarized.  Been there and done that and it is not fun.

 

Hi Dave, thanks for the info just took a look at the Date on the deed of sale notarization and it is indeed the end of December 2013, given that the guy we bought from is leaving Cebu for good I think we will go ahead and change ownership now, that way if any problems arise we can still talk to him, then just leave the car on our drive until LTO registration is due in October 2013

 

Thanks again

 

John

[johnb]

As a further update and yet another question, we have now managed to complete the documentation at LTO for the change of ownership, the car as mentioned before is registered till October this year but in the name of the previous owner, so in October we will change the registration to my wife's name.

 

My question is regarding basic insurance, I leave the Philippines in about 4 weeks and will likely return before Xmas, If I or my wife were to drive the car over the next month or so, does the basic insurance taken out during the registration process cover us? or does it only work on the names added at the time of the LTO Registration, basically is the car covered by the insurance or just named drivers?

 

If I do need to get temporary insurance anyone know where i can simply buy a months cover?

 

thanks Again

[Dave Hounddriver]

You do not 'need' to get coverage as the coverage goes with the vehicle, not the owner.  But the basic coverage is pretty much useless for anything other than fulfilling your legal obligations.  If you want 'real' coverage you will need a more substantial policy.  If memory serves, you can get a pretty nice comprehensive package that actually pays out from an insurance agent on Fuentes Circle but I would have to go check it out for the name . .  Malay Insurance rings a bell . . anyway its about 10K pesos for a year.

[MikeB]

The Compulsory Third Party Liability (CTPL) required by LTO to register the vehicle has a limit of p100k. In a serious accident that could be a drop in the bucket and would only cover someone you hit, not you. I would talk to an agent.