LEGAL ASPECTS OF REAL ESTATE 

Preliminary Examination
Total points45/50

AY 2022-23

A kind of mortgage in which one is required by express provision of the law to

be executed in favor of certain persons to secure the performance of the
principal obligation.
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Legal mortgage

Judicial Mortgage

Equitable Mortgage

Voluntary or Conventional Mortgage

If the same thing should have been sold to different vendees, the ownership
shall be transferred to the person who may have first taken possession
thereof in good faith.
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 SALE BY ONE HAVING A VOIDABLE TITLE

SALE OF REAL PROPERTY BY UNIT OR NUMBER

RULES ON DOUBLE SALE

WARRANTIES

Other persons especially disqualified by law (Incapacity to buy or sell),

except   
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Unemancipated minors (below 18 years old).

Insane or demented persons and deaf-mute who do not know how to read and
write

Sale between husband and wife of their absolute community of property

When there has been no judicial separation of property

Persons disqualified by law

A kind of mortgage in which one which is agreed to by the parties.

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Legal mortgage

Judicial Mortgage
 Equitable Mortgage

Voluntary or Conventional Mortgage

A procedure whereby property pledge as security for a debt is sold to pay the
debt in the event of default in payment or terms.
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Junior Mortgage

Closed Mortgage

Blanket Mortgage

Foreclosure

A Contract whereby personal property is recorded in the chattel mortgage

registry as security for the performance of an obligation.
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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage
 

When marital consent is not necessary in Contract of Sale, except

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When property relationship is absolute separation.

When property, even if property relation is conjugal partnership, was bought from
the exclusive funds of either husband (capital property) or wife (paraphernal
property).

When the property was acquired during the marriage and from common fund.

Property acquired through inheritance (if husband's - capital property; if inherited by

wife -paraphernal property).

A stipulation which authorizes the mortgagee to appropriate the property as

his own upon failure of the debtor to fulfill the principal obligation. This is void
and of no legal effect.
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Pactum Commissorium

Pactum De Non Aliendo

Dacion en Pago

Antichresis

 
The thing sold is conveyed in consideration of the price.
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Onerous

Consensual

Principal

Nominate

The following is not a Sales Contract*

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Conditional (Contract to Sell):

Absolute (Deed of Absolute Sale):

Deed of Assignment

Mortgagor

Correct answer

Deed of Assignment

Where the seller of goods has a voidable title thereto, but his title has not
been avoided at the time of sale, the buyer acquires a good title to the goods,
provided he buys them in good faith, for value, and without notice of the
seller’s defect of title
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SALE BY ONE HAVING A VOIDABLE TITLE

SALE OF REAL PROPERTY BY UNIT OR NUMBER

RULES ON DOUBLE SALE

WARRANTIES

Mortgage containing a clause which permits the mortgagor to borrow

additional money after the loan has reduced, without rewriting the mortgage.
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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage

A contract whereby property is given as collateral to secure performance or

fulfillment of obligation
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 Mortgage

Real Estate Mortgage

Mortgagee

Mortgagor

A stipulation which prohibits the mortgagor from alienating the property within
the period of the mortgage. 
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Pactum Commissorium

Pactum De Non Aliendo

Dacion en Pago

Antichresis

Is one, although it lacks the proper formalities of mortgage, shows the

intention of the parties to make the property subject of the contract as a
security for the fulfillment of an obligation
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Equitable mortgage

 
 Dacion en Pago or Dacion in Payment

Payment by Cession or Assignment

Legal Redemption

Characteristic of a Contract of Sale perfected by mere consent

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Onerous

Consensual

Principal

Nominate

When marital consent is necessary in Contract of Sale, except

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When the property relation is absolute community.

When the property relation is conjugal partnership.

When the property was acquired during the marriage and from common fund.

Property acquired through inheritance (if husband's - capital property; if inherited by

wife -paraphernal property).

 
 

Parties in Sales Contract

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Seller or Vendor/Buyer or Vendee

Dealer/Developer

Real estate broker/Salesperson

Real estate appraiser/consultan

The creditor acquires the right to receive the fruits of an immovable of his
debtor, with the obligation to apply them to the payment of the interest, if
owning and thereafter to the principal of his credit
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Lien

Encumbrance

adverse Claim

Antichresis

 
A deed used to convey real property which contains warranties of the title and
quiet possession. 
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Deed of Warranty

Taxes and Expenses

Warranties

Payment by Cession

A mortgage which can be paid off at any time even before its maturity.
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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage

A sum of money tendered by a Buyer to the Seller which, if accepted by the

Seller, shall form part of the purchase price and results to the perfection of the
contract. (Refundable). 
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Solicitation

Option Money

Principal

Earnest Money

The following are requisites concerning  price, except

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Gross inadequacy of price does not affect a contract of sale, except as it may
indicate a defect in the consent, or that the parties, really intended a donation or
some other act or contract.

if the price is simulated, the sale is void, but the act may be shown to have been in
reality a donation, or some other act or contract.

the goods which form the subject of a contract of sale may be either existing goods
owned or possessed by the seller or goods to be manufactured, raised or acquired
by the seller after the perfection of the contract of sale, in this Title called "future
goods”.

-- In order that the price mthings subject to resolutory condition maybe the object of
a contract of sateay be considered certain, it shall be sufficient that it be so with
reference to another thing certain

The right to be subrogated, upon the same terms and conditions stipulated in
the contract, in the place of one who acquires a thing by purchase or dation in
payment, or by any other transaction whereby ownership is transmitted by
onerous title.
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Equitable mortgage

Dacion en Pago or Dacion in Payment

Payment by Cession or Assignment

Legal Redemption

Correct answer

Equitable mortgage

A person in whose favor a property is mortgaged.

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Mortgage

Real Estate Mortgage

Mortgagee

Mortgagor

A mortgage which can be paid off at any time even before its maturity.
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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage

The obligation to deliver the thing sold include that of placing in the control of
the vendee all that is mentioned in the contract
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SALE BY ONE HAVING A VOIDABLE TITLE

SALE OF REAL PROPERTY BY UNIT OR NUMBER

RULES ON DOUBLE SALE

WARRANTIES

Except one, the following are kinds of Foreclosure

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Judicial

Extra Judicial
 Administrative

Foreclosure

When a property is an exclusive property by the wife

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Paraphernal property

Exclusive property

Capital property

Conjugal property

A kind of mortgage  resulting from a judgment of the court.

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Legal mortgage

Judicial Mortgage

Equitable Mortgage

Voluntary or Conventional Mortgage

 
Essential Requisites of a Contract of Sale, EXCEPT
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Consent or meetings of minds.

Object or subject matter.

Cause or consideration.

Absolute (Deed of Absolute Sale):

An agreement where the Seller/vendor obligates himself to deliver and

transfer ownership of a
determined object to the Buyer/vendee and in return the latter binds himself to
pay a sum of money or
its equivalent at a certain of time.

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Contract to Sell

Sales Contract or Contract of Sale

Contract of Lease

Contact Agreement

Correct answer

Contract to Sell
 

The debtor abandons all his properties (all his leviable or non-exempt
properties) for the benefit of his creditors in order that the latte may sell said
properties and from the proceeds thereof the creditors may obtain payment
and in case of deficiency, the debtor is still liable for the same unless there is
stipulation to the contrary.
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Equitable mortgage

Dacion en Pago or Dacion in Payment

Payment by Cession or Assignment

Legal Redemption

NAME AND SECTION BELOW*

Joshua Ardie Agustin Mesina REMO6A

Under Article 1403, the following are considered Statute of Frauds

excluding
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Sale of personal property at a price not less than.

Sale of real property or any interest therein regardless of the price involved and.

Sale of property not to be performed within a year from date thereof regardless of
the nature of the property and price involved.
 Things subject to resolutory condition maybe the object of a contract of sate

A Contract whereby personal property is recorded in the chattel mortgage

registry as security for the performance of an obligation.
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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage

Portion of the sales price is to be paid from loan secured by the Buyer.
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Sale with Mortgage

Sale with Assumption of Mortgage

Deed of Assignment

Conditional Sale

 
An unaccepted offer to sell or buy a thing.
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Solicitation

Option Money

Principal

Option 4

A mortgage that can be paid off only upon its maturity.

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Chattel Mortgage

Closed Mortgage

Open Mortgage

Open-end Mortgage

Sales are extinguished by the same causes as all other obligations, by those
stated in the preceding articles of this Title and by conventional and legal
redemption on the following grounds, except
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 Common like payment, condonation.

Special or those causes which are recognized by the law of sales like recission.

Extra special or those which are given special discussion by the Civil code
(Conventional and Legal Redemption

Sale of real property or any interest therein at a price assess,ment.

In the absence of any stipulation, the Vendor shall pay for the expenses and
taxes in the transfer and registration of title
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Deed of Warranty

Taxes and Expenses

Warranties

Payment by Cession

A privilege existing in one person for which he has paid a consideration that
gives him right to buy or sell within an agreed time and at a fixed price.
(Goodwill money and non-refundable     
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Solicitation

Option Money
 

Principal

Earnest Money

Period of Legal Redemption

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Within 30 days from notice in writing by vendor

Within 60 days from notice in writing by vendor

Within 120 days from notice in writing by vendor

Within 160 days from notice in writing by vendor

A person who encumbers his property by way of mortgage to guarantee the

performance of an obligation
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Mortgage

Real Estate Mortgage

Mortgagee

Mortgagor

 
 

A mortgage which can be paid off at any time even before its maturity.
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Junior Mortgage

Closed Mortgage

Blanket Mortgage

Open-end Mortgage

Correct answer

Blanket Mortgage

When a property is an exclusive property by the husband.

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Paraphernal property

Exclusive property

Capital property

Conjugal property

 
The right to be subrogated, upon the same terms and conditions stipulated in
the contract, in the place of one who acquires a thing by purchase or dation in
payment, or by any other transaction whereby ownership is transmitted by
onerous title.
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Equitable mortgage

Dacion en Pago or Dacion in Payment

Payment by Cession or Assignment

Legal Redemption

The following are requisites concerning object, except

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the thing must be licit and the vendor must have the right to transfer the ownership
thereof at the time it is delivered.

if the price is simulated, the sale is void, but the act may be shown to have been in
reality a donation, or some other act or contract.

the goods which form the subject of a contract of sale may be either existing goods
owned or possessed by the seller or goods to be manufactured, raised or acquired
by the seller after the perfection of the contract of sale, in this Title called "future
goods”.

the sole owner of a thing may sell an undivided interest therein

 
Except one, the effects of Conventional Redemption  are characterized by
the following:  
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Common like payment, condonation.

Special or those causes which are recognized by the law of sales like recission.

Extra special or those which are given special discussion by the Civil code
(Conventional and Legal Redemption

The Contract shall be presumed to be an equitable mortgage

Correct answer

Common like payment, condonation.

A hold of claim which one person has upon the property of another as security
for a debt of charge, judgment, mortgage and taxes
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Lien

Encumbrance

adverse Claim

Antichresis

 
Payment in kind has the effects of a sale because in such case the thing
delivered as payment by the debtor is deemed paid for by the debt which the
debtor owes the creditor. 
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Equitable mortgage

Dacion en Pago or Dacion in Payment

Payment by Cession or Assignment

Legal Redemption

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