Pledge object in which it is constituted manner of perfection Movables delivery to the creditor or third person

Real Mortgage Immovables and alienable real rights consent of the parties

Chattel Mortgage Movables recorded in the Chattel Mortgage Register

Antichresis Immovables must be in writing

in order to bind third persons Embodying the contract in a public showing the description of the document thing pledged and the date of the pledge does not necessitates registration

to bind third persons

affidavit of good faith-to bind third persons

for convenience

Necessity of Registration

contract is registered to the registration in the Chattel Registry of Deeds to bind third Mortgage Register which is persons situated in the Registry of Deeds Deficiency can be recovered except in case of personal property sold on installment basis and lease of personal property with an option to buy

does not necessitates registration

Remedy in case of deficiency in foreclosure sale

Deficiency cannot be recovered even if there is a stipulation

Deficiency can be recovered

Deficiency can be recovered

Treatment of Excess in foreclosure sale

Excess is retained by the pledgee unless there is a stipulation Thing pledged is not sold in two public auctions all kinds of obligations use is not allowed unless authorized by owner and when the use is necessary for its preservation

Excess belongs to the Excess belongs to the Excess belongs to the mortgagor. mortgagor. Thus, excess shall mortgagor. Thus, excess shall be Thus, excess shall be returned by be returned by the mortgagee returned by the mortgagee the mortgagee regardless of regardless of contrary regardless of contrary contrary stipulation stipulation stipulation appropriation is not allowed appropriation is not allowed appropriation is not allowed

When appropriation allowed

Obligations it can secure

may secure future obligations cannot secure future obligations use is impossible since the property is not in the possession of the mortgagee

all kinds of obligations

Use of the thing/security

use is impossible since the use is allowed and the fruits will property is not in the possession be applied to the charges and of the mortgagee interest on the principal debt Ownership is not transferred since it is merely a security on debt Ownership is not transferred since it is merely a security on debt Antichresis can only be constituted once

Transfer of ownership

Ownership is not transferred Ownership is not transferred since it is merely a security on since it is merely a security on debt debt thing can be pledged once

Constitution of the contract on the same object

mortgagor can execute another mortgagor can execute another mortgage on same property mortgage on same property

Object of the Contract kind of cause intention Manner of Perfection Transfer of Ownership Who suffers in case of loss

Commodatum Movable or Immovable; nonconsumable but may be consumable but non-fungible essentially gratuitous Use;safekeeping is incidental perfected by delivery ownership is retained to the lender loss is suffered by the bailor ownership is not necessary as long as authorized to alienate the right to use the property

Mutuum money or consumable/fungible things may be gratuitous or onerous Consumption perfected by delivery ownership is transferred to the borrower loss is suffered by the borrower

Deposit Movable and immovables in the case of judicial deposit presumed gratuitous Safekeeping perfected by delivery ownership is retained to the depositor depositor if without the fault of the depositary generally must be the owner but not necessarily

Necessity of the ownership of bailor/lender/depositor

ownership is necessary

borrower is liable for the Who shoulders to the ordinary expenses since the ownership of depositor if the deposit is expenses for the use or bailee shall be liable for the expenses the thing has already been gratuitous; depositary if onerous preservation of the thing transferred Demand for the return of the object at will if precarium; lender must wait until the expiration of the period granted to the debtor the depositor can demand the return of the subject matter