Short answer up front

Once a Deed of Absolute Sale (DOAS) has been registered, the Registry of Deeds (ROD) keeps the original instrument that was filed for registration. Neither the buyer nor the bank keeps that original copy. The buyer and the bank instead keep certified true copies (CTCs) from the ROD or counterpart originals produced at signing. Separately, for the mortgage itself, the bank holds the owner’s duplicate certificate of title (the physical title) while the loan is outstanding, not the deed of sale.

The rest of this article explains the why, the legal basis, and every practical scenario you’ll likely encounter.

Key roles of the documents

1) Deed of Absolute Sale (DOAS)

Function: Transfers ownership from seller to buyer.
Lifecycle:
1. Signed and notarized.
2. Used to pay taxes (CGT/creditable withholding; DST; transfer tax) and obtain BIR Certificate Authorizing Registration (CAR).
3. Filed with the ROD for registration so the title can be transferred to the buyer’s name.
Custody after registration: ROD keeps the original DOAS in its records. Parties rely on CTCs.

2) Real Estate Mortgage (REM)

Function: Creates a lien in favor of the bank.
Lifecycle:
1. Signed and notarized by mortgagor (usually the buyer) and the bank.
2. Filed with the ROD for registration to annotate the mortgage on the title.
Custody after registration: ROD keeps the original REM instrument; the bank keeps its CTC and the loan pack (promissory note, disclosure statement, etc.).

3) Certificates of Title

Torrens title types: TCT (land/house & lot) and CCT (condominium).
Custody during a mortgage:
- Original certificate remains in the ROD’s registry books at all times.
- Owner’s duplicate is surrendered to and held by the bank until the mortgage is canceled (loan fully paid and release registered).

Why the Registry of Deeds keeps the “original” instruments

Under the property registration system (PD 1529, the Property Registration Decree), conveyances (like a sale) and encumbrances (like a mortgage) take effect upon registration. The ROD enters the instrument in the Primary Entry Book, makes the corresponding annotation on the title, and files the original instrument as part of the public records. That’s why, after registration, the authoritative evidence of the transaction is:

the annotation on the title, and
the instrument on file with the ROD (accessible via CTC).

This is also why, in practice, banks do not insist on physically holding the “original DOAS” post-registration—they only need a CTC, because the ROD’s file is the official record.

Typical transaction flows and custody, step by step

A. Post-sale, before mortgage (cash buyer or seller-financed gap)

DOAS is signed/notarized; multiple counterpart originals may be produced at signing for convenience.
Taxes are paid; CAR is secured.
DOAS is lodged with the ROD for title transfer.
ROD retains the original DOAS used for registration; parties can get CTCs anytime.

Custody snapshot:

DOAS: ROD (original); parties: CTCs.
Title: new title is issued in buyer’s name; owner’s duplicate delivered to buyer.

B. Purchase financed by a bank mortgage

DOAS and tax clearances are prepared to enable transfer.
Bank may pre-check the DOAS (and ask to see an original counterpart) to underwrite the loan.
Registration sequence is often back-to-back:
- Register the sale (issue new title in buyer’s name), then
- Register the REM (annotate the mortgage).
After mortgage annotation:
- Owner’s duplicate title (now showing the mortgage annotation) is held by the bank.
- ROD retains the original DOAS and original REM instruments.
- Bank keeps CTCs of the DOAS and REM plus the loan documents.

Custody snapshot during the loan:

DOAS: ROD (original); bank/buyer: CTCs.
REM: ROD (original); bank: CTC + loan pack.
Title: Bank holds the owner’s duplicate.

C. After full payment (release of mortgage)

Bank executes a Release of Mortgage (or Cancellation of REM).
Release is registered with the ROD to cancel the annotation.
Bank returns the owner’s duplicate title to the owner, now free of the mortgage annotation (after registration of the release).

Custody snapshot after loan closure:

DOAS: ROD (original); owner: CTCs.
Title: Owner holds the owner’s duplicate; ROD holds the original in its registry.

Special and edge scenarios

1) Multiple counterpart “originals” of the DOAS

At signing, parties sometimes execute two or more counterpart originals (all bearing wet signatures and notarization). Practically, the set lodged at the ROD becomes the official “original” for registration purposes. Even if another signed counterpart is kept by a party, it is not the controlling public record; the ROD’s file is.

2) When the sale has not yet been registered

Occasionally, the buyer (or bank) holds the original signed DOAS temporarily to process taxes and registration. Until registration, that copy may be called the “original” in lay terms. But once filed and registered, the ROD’s copy becomes the official original, and the buyer/bank should obtain CTCs.

3) Pre-selling condos and “Contract to Sell” (CTS)

For pre-selling, buyers often sign a CTS first, with the DOAS executed upon full payment or loan take-out. The bank typically lends only when the unit is turn-over ready and the DOAS can be registered. As soon as the DOAS and REM are registered:

ROD keeps the originals, and
Bank holds the owner’s duplicate CCT.

4) Unregistered properties (tax declaration only)

Mortgages on unregistered land are legally complicated and generally not acceptable to commercial banks under the Torrens system. If collateral is solely covered by a tax declaration (no TCT/CCT), banks typically decline or require additional security. Where private instruments are executed, originals are simply held by the parties because there’s no ROD file for unregistered land. (This is an exception scenario and distinct from the mainstream Torrens process discussed above.)

What the bank actually cares about (and holds)

Owner’s duplicate title: The real collateral it physically holds.
CTCs: Of the DOAS, REM, CAR, tax receipts, and related documents for its credit file.
Loan pack: Promissory note, disclosure statement, deed of assignment (if any), special power of attorney (if applicable), insurance policies endorsed to the bank.

Banks do not need the “original DOAS” post-registration because the annotation on the title and the ROD’s official file are what matter in law and practice.

Practical tips for buyers, sellers, and borrowers

Register promptly. Unregistered deeds don’t protect ownership against third parties. Registration secures your rights and enables bank financing.
Always secure CTCs. After registration of both the sale and the mortgage, request CTCs of the DOAS and REM from the ROD for your records.
Check the title’s annotations. Ensure the sale and mortgage are properly annotated with correct Entry Numbers and dates.
Keep tax and BIR documents. CAR, DST proofs, transfer tax receipts, and notarized instruments (or their CTCs) should be filed securely.
On loan closure, complete the cancellation. Get the Release of Mortgage registered so the annotation is removed, and keep a CTC of the release.

Legal touchpoints (for orientation)

Civil Code (Arts. 2085–2092) – basic rules on mortgage.
PD 1529 (Property Registration Decree) – registration, effect of registration, ROD functions.
2004 Rules on Notarial Practice – notarization standards; notary transmittals to the Clerk of Court/archives (not a substitute for ROD registration).
National Internal Revenue Code & regulations – CGT/creditable withholding tax, DST; BIR CAR as prerequisite to registration of the sale.

Bottom line

After a sale is registered, the Registry of Deeds keeps the original Deed of Sale used for that registration.
During a bank mortgage, the bank holds the owner’s duplicate title, not the deed of sale.
Parties (including the bank) operate using certified true copies of the DOAS and REM from the ROD, with the title annotations serving as the authoritative proof.