Author Topic: Chattel Mortgage on Building Separately Owned by Motgagor  (Read 465 times)

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Chattel Mortgage on Building Separately Owned by Motgagor
« on: November 14, 2019, 07:31:41 PM »
■   If a chattel mortgage is constituted over a building separately owned by the mortgagor, the same may still be valid and effective between the contracting parties by reason of estoppel provided no rights of third persons who are in good faith are impaired.
o   However, in case of foreclosure the mortgagor may proceed in accordance with the rules on foreclosure of real estate mortgage.

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