RIGHTS AND OBLIGATIONS OF THE THIRD PARTY PLEDGOR/ MORTGAGOR! Kinds of Real Guaranty! Right to Alienate! Right to Bid!

Right to Recover Excess! Pledge! With the consent of the Yes! Voluntary! pledgee, the thing pledge He shall moreover, have a NONE, unless otherwise agreed upon (Art. 2115)! may be alienated by the better right if he should offer the same terms as Legal Pledge! pledgor (Art. 2097)! YES (Art. 2121)! If, without the fault of the the highest bidder (Art. pledgee, there is danger 2113)! of destruction, impairment, or diminution in value of the thing pledged, he may cause the same to be sold at a public sale (Art. 2108)! Sale valid and buyer may ! YES (Act. 1508)! acquire ownership but it not consented to by mortgagee, mortgagor is criminally liable (Art. 319, RPC)! A stipulation forbidding the ! YES (Rules of Court on owner fro alienating the Foreclosure)! immovable mortgaged shall be void (Art. 2130)!

Equity/ Right of Redemption! NONE!

Chattel Mortgage!

Equity of redemption within 90 days from order of foreclosure.! After foreclosure, no right of redemption.! Equity of redemption within 90 days from order of foreclosure.! After foreclosure, no right of redemption except foreclosure of real property by banking instis and in extra-judicial foreclosure of real

Real Mortgage!

Antichresis! !

YES (Art. 2137)! !

property full amount of purchase price if gfis! !