Practice question
No security agreement exists between the filer and grantor. The grantor makes the appropriate written demand, but the filer does not comply within fifteen working days after receipt. What Section41 remedy is available?
- Ask the proper court for an order terminating or amending the notice as appropriate
- The grantor must accept the false notice forever
- Only a criminal conviction can ever permit termination
- The grantor may automatically seize the filer’s property
- The Registry filing conclusively proves an agreement exists
Legal references
- RA11057 PPSA: https://lawphil.net/statutes/repacts/ra2018/ra_11057_2018.html Sections28(f),29,34–43.
- LRA Circular02-2025 PPSR operationalization: https://lra.gov.ph/wp-content/uploads/2025/07/02-2025-OPERATIONALIZATION-OF-THE-PERSONAL-PROPERTY-SECURITY-REGISTRY.pdf PPSR operation commenced February3,2025.
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