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Act No. 496 Section 62

Section 62

SEC. 62. Whenever a mortgage upon which a mortgagee's duplicate has been issued is assigned, extended, or otherwise dealt with, the mortgagee's duplicate shall he presented with the instrument assigning, extending, or otherwise dealing with the mortgage, and a memorandum of the instrument shall be made upon the mortgagee's duplicate certificate. When the mortgage is discharged or otherwise extinguished the mortgagee's duplicate certificate shall be surrendered and stamped "canceled." The production of the mortgagee's duplicate certificate shall be conclusive authority to register the instrument therewith presented, subject, however, to all the provisions and exceptions contained in section fifty-five of this Act so far as the same are applicable. A mortgage on registered land may also be discharged, by the mortgagee in person, on the registration book, by indorsing upon the original certificate of title and upon the owner's duplicate certificate a memorandum stating that the mortgage has been satisfied and is discharged, together with the date of such entry, signed by the mortgagee, and such discharge shall be attested by the register of deeds, the mortgagee's duplicate certificate being at the same time surrendered and stamped "canceled."

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Other provisions in Act No. 496

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationAct No. 496 Section 62 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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