All natural or legal persons legally constituted in Ecuador or branches of foreign companies domiciled in the country may lift the lien that weighs on a movable asset (vehicle, machinery, etc.) once the obligation has been canceled or paid in its totality, indicates the National Directorate of Public Records (Dinarp).
Citizens may make the cancellation only in the Mercantile Registry in which the registration was made.
Does the debtor have options before his car is auctioned off due to default?: Retiring the vehicle is an extreme measure that can be avoided
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After payment in favor of the Mercantile Registry of the canton where your registration was requested, you must enter the “Online procedure” option.
The next step is to fill out the web form, attaching the payment and the requirements to the form (it must be legible and according to the procedure).
In the form you must select one of the following options:
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NEW PROCESS: In case you are entering your application for the first time or your process has not yet been invoiced.
PROCESS RE-ENTRY: To enter payments or correct documents of a previously requested procedure.
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After these procedures, the invoice is received (when it is entered for the first time) and observations must be corrected (if any) by re-entering the procedure on the gob.ec platform (“Online procedure” option).
Thus, the registration is finally received.
The process of buying a car does not end with paying the credit: you have to lift the lien in the Mercantile Registry
The mandatory requirements for the online process are:
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- Payment in favor of the Mercantile Registry of the canton where registration is requested through the digital collection mechanisms enabled, which are Intermático del Banco del PacĂfico, Produbanco Online or the Facilito Services Network.
- Letter signed by the creditor/seller authorizing the Mercantile Registry to cancel the registration of the contract, since it has complied with all the obligations.
- Copy of the contract previously registered.
- Web form with electronic signature (generated from the online procedure).
All documents must be in PDF format. (YO)
Source: Eluniverso
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