normal_post - Chattel Mortgage Separately Owned by Mortgagor - Philippine Laws Author Topic: Chattel Mortgage Separately Owned by Mortgagor  (Read 134 times)

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Chattel Mortgage Separately Owned by Mortgagor
« on: November 11, 2019, 01:40:30 AM »
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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