If the deed of sale is just a precursor to the actual owning of the vehicle and ownership is finalized when it is registered with the LTO as determined by the courts, that's fine. There can be a problem when you sell a vehicle registered in your name. If the buyer leaves the vehicle in your name and has an accident. You will be on the hook for liabilities from the accident. A friend had that problem. He bought a motorcycle, registered it in his father-in-law's name. One of his happy workers had an accident (a left town). The injured party has been looking for the father-in-law ever since.
Yup, the owner of my multicab moved back to usa or mexico. But agree, there can be reasons to transfer the registration of the vehicle is worth your time. For a multicab bought from an expat leaving the ph or just an old old motorcycle.. nah i dont care.
When I buy or sell something, I tell the other party,the money will change hands money at the attorney's office after the Deed of sale is executed, or it's no deal.
