This case has been cited 1 times or more.
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2008-12-22 |
REYES, R.T., J. |
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| The mortgage directly and immediately subjects the property upon which it is imposed, whoever the possessor may be to the fulfillment of the obligation for whose security it was constituted. Otherwise stated, a mortgage creates a real right which is enforceable against the whole world. Hence, even if the mortgage property is sold or its possession transferred to another, the property remains subject to the fulfillment of the obligation for whose security it was constituted.[14] | |||||