CREDIT TRANSACTION - TITLE XII - DEPOSIT CHAPTER 4

Sequestration or judicial deposit may not be relieved of his responsibility until the
litigation is ended or the court so orders. (Art. 2007.)

Article 2005. A judicial deposit or sequestration takes

place when an attachment or seizure of property in Judicial and extrajudicial deposits distinguished.
litigation is ordered.
The differences between judicial and extrajudicial
Article 2006. Movable as well as immovable property deposits are:
may be the object of sequestration.
(1) Cause or origin. — judicial, by the will of the court;
Article 2007. The depositary of property or objects extrajudicial, by the will of the parties; hence, there is a
sequestrated cannot be relieved of his responsibility contract;
until the controversy which gave rise thereto has come
(2) Purpose. — judicial, as security and to secure the
to an end, unless the court so orders.
right of a party to recover in case of a favorable
Article 2008. The depositary of property sequestrated is judgment; extrajudicial, custody and safekeeping of the
bound to comply, with respect to the same, with all the thing;
obligations of a good father of a family.
(3) Subject matter. — judicial, either movable or
immovable property but generally immovable property;
extrajudicial, only movable property;
When judicial deposit takes place.
(4) Remuneration. — judicial, always remunerated
A deposit may be constituted judicially or extrajudicially.
(onerous); extrajudicial, may be compensated or not,
(Art. 1964.)
but generally gratuitous; and
Judicial deposit or sequestration takes place when an
(5) In whose behalf it is held. — judicial, in behalf of the
attachment or seizure of property in litigation is ordered
person who, by the judgment, has a right; extrajudicial,
by a court. (Art. 2005.) For example, properties may be
in behalf of the depositor or third person designated.
attached by the sheriff upon the filing of a complaint
(Rule 57, Rules of Court.), or a receiver (a disinterested
party) may be appointed by the court to administer and
Article 2009. As to matters not provided for in this
preserve the property in litigation (Rule 59, ibid.), or
Code, judicial sequestration shall be governed by the
personal property may be seized by the sheriff in suits
Rules of Court.
of replevin or manual delivery of personal property.
(Rule 60, ibid.)

Nature and purpose of judicial deposit. Applicable law.

The deposit is judicial because it is auxiliary to a case
pending in court.
The purpose is to maintain the status quo during the
pendency of the litigation or to insure the right of the
parties to the property in case of a favorable judgment.
Obligation of depositary of sequestrated property.
The law on judicial deposit is remedial or procedural in
nature. Hence, the Rules of Court are applicable. The
relevant provisions of the Rules of Court are Rule 57
(Preliminary Attachment), Rule 59 (Receivership), and
Rule 60 (Replevin).
The Rules of Court provide also for attachment in
criminal cases. (Rule 127 thereof.)

The depositary of sequestrated property is the person

appointed by the court. (Art. 2007.) He has the
obligation to take care of the property with the
diligence of a good father of a family (Art. 2008.) and he