■ 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.
Book online travel tickets in Asia, Australia and New Zealand at:
https://12go.asia/?z=3467325Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=91448.0
