PLEDGE
OBJECT IN WHICH IT IS CONSTITUTED
MANNER OF PERFECTION
EMBODYING THE CONTRACT IN A
PUBLIC DOCUMENT
NECESSITY OF REGISTRATION
REMEDY IN CASE OF DEFICIENCY IN
FORECLOSURE SALE
TREATMENT OF EXCESS IN
FORECLOSURE SALE
REAL MORTGAGE
Movables
delivery to the creditor or third
person
in order to bind third persons
showing the description of the
thing pledged and the date of the
pledge
does not necessitates
registration
Deficiency cannot be recovered
even if there is a stipulation
Excess is retained by the
pledgee unless there is a
stipulation
CHATTEL MORTGAGE
Immovable and alienable real
rights
consent of the parties
to bind third persons
contract is registered to the
Registry of Deeds to bind third
persons
Deficiency can be recovered
Excess belongs to the mortgagor.
Thus, excess shall be returned by
the mortgagee regardless of
contrary stipulation
ANTICHRESIS
Movables Immovable
recorded in the Chattel Mortgage must be in writing
Register
affidavit of good faith-to bind third for convenience
persons
registration in the Chattel Mortgage does not necessitates registration
Register which is situated in the
Registry of Deeds
Deficiency can be recovered except Deficiency can be recovered
in case of personal property sold on
installment basis and lease of
personal property with an option to
buy
Excess belongs to the mortgagor. Excess belongs to the mortgagor.
Thus, excess shall be returned by Thus, excess shall be returned by
the mortgagee regardless of the mortgagee regardless of
contrary stipulation contrary stipulation
WHEN APPROPRIATION ALLOWED Thing pledged is not sold in two appropriation is not allowed appropriation is not allowed appropriation is not allowed
public auctions

OBLIGATIONS IT CAN SECURE all kinds of obligations may secure future obligations cannot secure future obligations all kinds of obligations

USE OF THE THING/SECURITY use is not allowed unless use is impossible since the use is impossible since the property use is allowed and the fruits will be
authorized by owner and when property is not in the possession of is not in the possession of the applied to the charges and interest
the use is necessary for its the mortgagee mortgagee on the principal debt
preservation

TRANSFER OF OWNERSHIP Ownership is not transferred Ownership is not transferred since Ownership is not transferred since it Ownership is not transferred since it
since it is merely a security on it is merely a security on debt is merely a security on debt is merely a security on debt
debt

CONSTITUTION OF THE CONTRACT thing can be pledged once mortgagor can execute another mortgagor can execute another Antichresis can only be constituted
ON THE SAME OBJECT mortgage on same property mortgage on same property once