one (2) Real property which by any special provi- z y ston Of law is considored ag Personalty; os (8) Forces of nature which are brought under control by science; and (4) In Seneral, all things which can be trans. Ported from place to place without im airment of the real property to which they are fixed. (835a) Art. 417. The following are also considered personal property: = (2), Shares of stock of agricultural, commercial and industrial entities, although they may ta real estate. (336a) /: ot " which ithout their being : re wi ss es their Poe fans belong all the oth. a um to the 5 ers. (337) Chapter 3 "Ty IN RELATION TO THE BP GON ‘TO WHOM IT BELONGS ‘Art. 420. The following things are property of ublic dominion: (1) Those intended for public use, such as ads, canals, rivers, torrents, ports and bridges structed by the State, banks, shores, roadsteads, i others of similar character; (2) Those which belong to the State, without ig for public use, and are intended for some ic Service or for the development of the national - . (339a) All other property of the State, w! Lic aia a aArticle 414. All things which are or may be object of appropriation are considered either: (2) Immovable or real property; or (2) Movable or personal property. (883) Chapter 1 IMMOVABLE PROPERTY Art. 415. The following aré immovable prop- gjued1) Land, buildings, roads and constructions of all kinds adhered to the soil; WC: (g) Trees, plants, and growing fruits, while they are attached to the land or form an integral part of an immovable; y % y A 33uses, beehives, i i ouses, pigeon-ho i Fe ae rceding places of similar nature, in ( fe Gacir owner has placed them c= Proser7=s them cont with the intention to have them permanently at- d forming a permanent part por tached to the land, an of it; the animals in these (7) Fertilizer actually used on a piece of land; (8) Mines, quarries, and slag dumps, while the matter thereof forms part of the bed, and waters places are include; (9) Docks and structures which, though float- are intended by their nature and object to re-g2ge a5 a conditional sale This old “pressly repudiated by Article 2140 Givi Code (Serra. Rodriquez, 56 SCRA 538) ‘There is no real analogy between a < mortgage contract and a conditional sale, a5 tunderstood in Civil law. Its merely aseeuityte regard it as a conditional sale is to rattle the bones of an antiquated skeleton from which all ‘semblance of animate life has long since departed (Bachrach Motor Co. v. Summers, 4 Phil, 3). SUBJECT MATTER. a) It covers personal or movable properties con- templated under Articles 416 and 417 of the New Civil Code including shares ofistocks and interest in business. b) _Shares-of:stocks — chattel mortgage thereon need red in the stock and transfer book. 2. nobbe regist Machinery — if any of the following is absent: (1) installed by the owner, (2) intended by the owner of the tenement for an industry or work being carried on in a building or piece of land and @) which tend directly to meet the needs of 0 industry or works (Art, 415[b], NCC). If all oft requisites are present, the machinery is res not, as a rule, proper subject of a chattel}chatter se Premi: 7 Phil. ogy Bage (Bete wae , Gow the etfective an 2e recorded ie 9 ‘ chattel mort, be subject of 518°, They are real properties under Auticle 415(1) of the New Civic fh are houses of mixed al: Tumalea meee materials, (Tumalad om er Textile Mills, 122 SCRA 296 built: BXeeptions the chattel mortgage over-a building is considered valid as between Barties on the basis of estoppel utes third_persons (Evangelista 0. Alio Surety & Ine Co., 103 Phil. 401 (1958) 3. AFTER-ACQUIRED PROPERTIES, b) ) Chattel mortgage shall be deemed to cover only th aa 714], Act No. 1508; Tsai v. CA, 366 SCRA 324 (2001). The rule regarding after-acquired properties does not apply to stores that are open to the public. A. stipulation in the chattel mortgage which includes goods that are acquired in renewal of or in sub- stitution of goods on hand when the mortgage was executed is valid and binding (Northern Motors Ine, v. Coquia, 66 SCRA 415 (1975). imthe inference from the languag (Aeme Shoe Rubber and Plastic Cor 5. FORMALITIES. iotrati ropistered in the Chattel Lace 2) Registration — it must be resist festente and, Mortgage Register of the Register of Deeds where place where prepwty the morigagorteside¢opit he resices in the Philip- is Sthumted he ce v Ss ‘ame> spend oe (Sec, 4, Act No. 1508). If the place of residence and ie » property is situated are rede the plae pee era traertaral in the registers pov fhesame > Eeatirotis > or city (ibid.). 1) Registration creates a lien that follows the property and serves as notice to third persons (Northern Motors, Inc. v. Coquia, 68 SCRA 374 11975). 2) Unregistered mortgage is binding, between the parties but'noton third persons (Filipinas Marble Corp. v. IAC, 142 SCRA 180 [1986)). b) Affidavit.of, Good Faith. It is a subscribed st ment in contract of chattel mortgage wherein parties severally swear that the mortgage i for the purpose of securing the obligat je of the. yp. CA, 260 56. emmys a) The following Dacor )a person nt mortgage; or (3) a subse- litor (Sec. 13, Act No, 1508). “mortgageis broken: ( holding a subsequen quent attaching credi b) However (Cabral v, ae 28SCRA1000 (1969). Deficiency After Foreclosure. Since, a chattel mortgage is just a security foreclosure thereof will y (Bicol Savings & Loan Association v. Guinhazoa, 188 ar 642 (1990)(c) Foreclose the chattel al property in install. sale of person ; tere toa simple loan). Fee ts (hence, it does not apply .(not’cumulative — the bars: exercise of another ‘unless it was exercise. For instance, the filing of the collection case bars saggore However of the propet through a replevin case recovery of the Prop sare will not bar the other wreparatory to foreclo: ceeds if theré was no actual foreclosure. foreclosure of chattel mortgage on the things sold deficiency. Thus, seller shall bar recovery of any ‘cannot recover from guarantor. However, if there is a real estate mortgage over another property, the foreclosure thereof will not bar recovery of any deficiency because he is in effect availing of the remedy of exacting fulfillment of the obligation rather than foreclosure of mortgage. ifseller-mortgagee opts to exercise remedy number one, he shall be deemed to have waived his right as a mortgagee but may still levy on the mortgaged _ roperty. ernativ'