What are the requirements if the borrower/s is already deceased?

Written By Gerard (Collaborator)

Updated at October 24th, 2023

To release the collateral documents to the surviving co-owner/s, co-borrower/s, or the appointed surviving heir/s, must present the following documents as stated in the Deed of Extrajudicial Settlement;

1.    PSA copy of Death Certificate 
2.    PSA copy of Marriage Certificate – if the claimant is the Spouse.
3.    PSA copy of Birth Certificate – if the claimant is/are the Child/Children 
4.    Original copy of Deed of Extrajudicial Settlement – stating the transfer of property, rights, and obligations of the Deceased to the Heir/s. 
5.    One (1) original valid government-issued ID

If the Claimant is one (1) or only a few of the heirs listed in the Deed of Extrajudicial Settlement, they must provide the following documents in addition to those mentioned above;

1.    Original authorization letter, signed by the absentee heirs – specifically stating their authorization to release the collateral documents to the Claimant/s. 
2.    Photocopy of two (2) valid government-issued IDs of the absentee parties, with three (3) original specimen signatures

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