PLEDGE

DELIVERY
1. PERFECTION
PUBLIC INSTRUMENT,
DESCRIPTION AND DATE OF
2. TO BIND 3RD PERSONS MORTGAGE
3. PACTUM COMMISORIUM PROHIBITION YES
4. INDIVISIBILITY YES
5. REMEDY- DEBTORS
6. RECOVERY OF DEFICIENCY (CREDITOR) NOT ALLOWED IN ANY CASE
G/R: NO, EXCEPTION:
7. RECOVERY OF EXCESS (DEBTOR) STIPULATION
8. APPROPRIATION

2 PUBLIC AUCTIONS
9. SALE OF PROPERTY
10. WHERE TO SELL? PUBLIC AUCTION
PAY THE DEBT, INTEREST, AND
11. REDEMPTION EXPENSES
12. RIGHT OF DEBTOR TO CONVEY PROPERTY WHILE IN YES, ONLY IF STIPULATED
POSSESSION OF CREDITOR
 LEGAL PLEDGE REAL MORTGAGE CHATTEL MORTGAGE

FORMAL (REGISTRATION IN
DELIVERY CONSENT
CHATTEL MORTGAGE REGISTER)

PUBLIC INSTRUMENT DULY

AFFIDAVIT OF GOOD FAITH
REGISTERED IN MORTGAGE

YES

YES (even if no stipulation) YES (even if no stipulation)

YES (even if no stipulation),
YES (even if no stipulation) EXCEPTION: RECTO LAW

WITHIN 1 MONTH AFTER THE

DEMAND OF THE PLEDGEE

PUBLIC AUCTION PUBLIC AUCTION

EQUITY OF REDEMPTION-
RIGHT OF REDEMPTION

YES (even if no stipulation)

 ANTICHRESIS

FORMAL (WRITING)