Академический Документы
Профессиональный Документы
Культура Документы
11. Cua Lai Chu, et al., v. Lacqui & Philippine Bank of 17. Sps. Samatra vs. Vda. De Parinas
Communications Sps. Samatra obtained loans and secured such loans with a
A writ of possession may be issued despite of pendency of a case mortgage over some of their lots. While the mortgage was still
questioning the validity of an extrajudicial sale. subsisting, they constituted their daughter as an agricultural
A purchaser at an extrajudicial foreclosure has a right of lessee over the mortgaged lots without the consent of the
possession of the foreclosed property during the 1-year mortgagee bank.
redemption period upon filing of the proper motion and posting Article 2130 of the Civil Code which renders void any stipulation
of the bond. forbidding the owner from alienating the immovable mortgaged
The purchaser in an extrajudicial foreclosure will thereafter (pacto de non aliendo) property. It is settled that a real estate
acquire an absolute right of possession if upon the expiration of mortgage does not extinguish the title of the debtor. He does
the 1-year redemption period, no redemption was made. not lose his right to use or dispose of the mortgaged property
Furthermore, the petitioners cannot question the validity of a (jus disponendi) which is one of the principal attributes of
foreclosure sale in opposing a petition for the issuance of a writ ownership. Thus, in the case at bar, the mortgagor-spouses were
of possession because such petition is in the form of ex parte well within their rights when they constituted respondent as an
motion. agricultural lessee and the legality of the leasehold contract
The remedy of the petitioners is to have the foreclosure sale be cannot be validly assailed on this ground.
set aside and have the writ of possession cancelled on the
ground of the damages they have suffered because the
mortgage was not violated or the sale was not made in CHATTEL MORTGAGE
accordance with the provisions of Act 3135.
1. PCI Leasing & Finance, Inc. v. Trojan Metal Industroes
12. Spouses Tolosa v. Unoted Coconut Plantes Bank Financial Leasing: a finance company purchases in behalf of a
After the consolidation of title in the buyer’s name (meaning, cash-strapped lessee the equipment the latter wants to buy but
there was no redemption within the 1-year redemption period), due to financial limitations, is incapable to do so. The finance
the issuance of a writ of possession upon motion of the company then leases the equipment to the lessee in exchange
purchaser becomes ministerial since the right to possess the for the latter’s periodic payment of a fixed amount of rental.
property became absolute. In this case, TMI already owned the subject equipment. Thus,
Questioning the validity of a foreclosure sale cannot be an their agreement is not a financial leasing.
argument in opposing the issuance of a writ of possession. If the finance company purchased the equipment of a client with
the intention of leasing it back to the client, the lease agreement
13. BPI Family Savings Bank, Inc. v. Golden Power Diesel Sales was simulated to disguise the true transaction which was a loan
Center, Inc. with security.
When the foreclosed property is in the possession of a third Thus, the real transaction in this case is a simple loan secured by
party holding the same adversely against the judgment obligor a chattel mortgage. Hence, upon TMI’s default, PCILF was
(it is important that the third person is holding the property entitled to seize the mortgaged equipment as a creditor-
adversely against the judgment obligor), the issuance of a writ of mortgagee for the purpose of foreclosing the chattel mortgage.
possession ceases to be ministerial.
In this case, Golden Power Diesel cannot be held to be holding 2. ACME Shoe, Rubber & Plastic Corporation v. Court of Appeals
the property adversely against CEDEC (mortgagor who A chattel mortgage can only cover obligations existing at the
mortgaged the property to BPI to secure loans). Golden Power time the mortgaged constituted and not subsequent loans
Diesel acquired the property from CEDEC through sale. Hence, obtained.
Golden Power Diesel merely steps into the shoes of CEDEC and To cover such subsequent loans, new chattel mortgage or an
thus, it does not hold the property adversely against CEDEC. BPI amendment of the old contract is needed to be made at the time
is entitled to a writ of possession. such loan is incurred.
Servicewied sued Hilda Tee and John Dee in whose custody the
3. Makati Leasing & Finance Corporation v. Wearever Textile vehicle was believed to be at the time of the filing of the suit.
Mills, Inc. SC:
A real property may be considered as a personal property in a o The suit shall not prosper. Leticia Laus must have been
chattel mortgage if the parties so intend and that no third included being an indispensable party.
persons were prejudiced by such. o The conditions which should be showed for the
foreclosure of the mortgage are:
4. Servicewide Specialists, Inc. v. Court of Appeals The existence of the chattel mortgage
Spouses Ponce bought a car from CR Tecson on credit secured by The default of the mortgagor
a chattel mortgage. The credit was assigned by CR Tecson to o Since the mortgagee’s right of possession is subject to
Filinvest which, in turn, assigned, the credit to Servicewide the default of the mortgagor, the inclusion of the
Specialist. debtor or the mortgagor in the case may be required
SC: to allow a full an conclusive determination of the case.
o In case of assignment of credit, only notice to but not
the consent of the debtor-mortgagor is necessary to 7. PAMECA Woode treatment Plant, Inc. v. Court of Appeals
bind the latter. Spouses Ponce then sold the car. The mortgagor is entitled to the balance of the proceeds of the
o The consent of the creditor-mortgagee is required auction sale upon satisfaction of the principal obligation and
when the debtor-mortgagor alienates the property costs. The creditor-mortgagor is barred from retaining the
mortgaged to a third person. excess.
Since the assignee of a credit steps into the
shoes of the creditor-mortgagee to whom
the chattel was mortgaged, it follows that
the assignee’s consent is necessary in order ANTICHRESIS
to bind him of the alienation of the
mortgaged thing by the debtor creditor. 1. Diego v. Fernando
o Although the spouses were not given notice of the Fernando obtained a loan without interest from Diego and to
assignment of credit to Servicewide by Filinvest, the secure such loan, he executed a deed of mortgage. Fernando
spouses still failed to give notice to FIlinvest when they further turned over the mortgaged property to Diego. Fernando
sold the car. Hence, the sale was not binding to defaulted and so, Diego moved for the foreclosure of the
Filinvest. mortgage. Fernando argued that the deed of mortgage is
actually an antichresis and not a mortgage.
5. Rizal Commercial Banking Corporation v. Royal Cargo SC:
Corporation o The deed of mortgage is a contract of mortgage and
Terrymanila obtained a loan from RCBC secured by a Chattel not an antichresis. Although the possession of the
Mortgage. property was given to Diego and that the loan is
On the other hand, Royal Cargo was one of the creditors of without interest, the contract remains a mortgage
Terrymanila. Royal Cargo filed a sum of money case with a because to be an antichresis, it must be expressly
preliminary attachment over some of the properties of agreed between creditor and debtor that the fruits
Terrymanila. The court ruled in favor of Royal Cargo. would be applied as payment.
Upon default of Terrymanila, RCBC moved to foreclose the o It must be pointed out that the delivery of the property
chattel mortgage which was granted. The public auction was is not necessary in mortgage. In case the property’s
pushed through and RCBC, as the sole bidder, purchased the possession is delivered to the mortgagee, the
personal properties. Royal Cargo move for reconsideration but mortgagee in possession has similar rights and
such was denied. obligations with an antichretic creditor. Thus, the
Royal Cargo now assails the foreclosure asserting that it should mortgagee in possession must account the value of the
have been notified 10 days before the sale. fruits received by him, and deduct it from the loan
SC: Royal Cargo is entitled of the 10-day notice but upon its filing obtained by Fernando.
of a motion for reconsideration, it was already given notice.
o In chattel mortgage, a would-be redemptioner is given
the chance to redeem the mortgaged property only
before its sale. Such partakes the nature of an equity
of redemption.
o Royral Cargo was able to attach the right or equity of
redemption by Terrymanila. Hence, it is entitled the
10-day notice.
o However, upon filing of a motion for reconsideration
on the foreclosure suit, it was already given notice of
the public auction.