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Personal or movable property
1. Shares of stock;
2. Interest in business;
3. Machinery treated as personal property subsequently installed on leased land (Davao
Sawmill v. Castillo, 61 Phil. 709).
4. Vessels recorded in the office of the Philippine Coast Guard to be effective as to third persons; not necessary to be recorded in the Office of the Register of Deeds;
5. Motor Vehicles mortgage registered in the LTO (for vehicles used for public services)
6. House of Mixed Materials;
7. House intended to be demolished;
8. House built on rented land.
GR: Immovable property.
E: treated as movable by estoppel of parties.
9. House of strong materials is personal property for purposes of executing a chattel mortgage as between the parties to the contract if parties so agree and no innocent third party will be prejudiced. General Rule: chattel mortgages cannot cover debts subsequently contracted.
Furthermore, the following must be remembered:
1. Chattel mortgages must be registered in place where mortgagor resides and where
property (chattel) is located. If mortgagor resides abroad, it must be registered in place
where property is located.
2. With respect to growing fruits, they may be secured by a chattel mortgage but they may
not be pledged.
3. With respect to machineries placed on plant or building owned by another, they can be
the object of chattel mortgage.
4. With respect to shares of stock: place of domicile of corporation and shareholder. No
need for notation in books of corporation.
1. Shares of stock;
2. Interest in business;
3. Machinery treated as personal property subsequently installed on leased land (Davao
Sawmill v. Castillo, 61 Phil. 709).
4. Vessels recorded in the office of the Philippine Coast Guard to be effective as to third persons; not necessary to be recorded in the Office of the Register of Deeds;
5. Motor Vehicles mortgage registered in the LTO (for vehicles used for public services)
6. House of Mixed Materials;
7. House intended to be demolished;
8. House built on rented land.
GR: Immovable property.
E: treated as movable by estoppel of parties.
9. House of strong materials is personal property for purposes of executing a chattel mortgage as between the parties to the contract if parties so agree and no innocent third party will be prejudiced. General Rule: chattel mortgages cannot cover debts subsequently contracted.
Furthermore, the following must be remembered:
1. Chattel mortgages must be registered in place where mortgagor resides and where
property (chattel) is located. If mortgagor resides abroad, it must be registered in place
where property is located.
2. With respect to growing fruits, they may be secured by a chattel mortgage but they may
not be pledged.
3. With respect to machineries placed on plant or building owned by another, they can be
the object of chattel mortgage.
4. With respect to shares of stock: place of domicile of corporation and shareholder. No
need for notation in books of corporation.
