Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dante borrowed P1 million from Ben. The loan was secured by a real estate mortgage. Lito signed the mortgage as one of the witnesses to

Dante borrowed P1 million from Ben. The loan was secured by a real estate mortgage. Lito signed the mortgage as one of the witnesses to its execution. The mortgage was not registered with the Registry of Deeds. Subsequently, Dante sold the mortgaged property to Lito. If Dante cannot pay the loan, can Ben still foreclose the mortgage?

  • Yes, because the sale is rescissible intended to defraud Ben.
  • No, because Dante is no longer the owner and Lito is a third person with respect to the mortgage.
  • Yes, because the mortgage is binding upon Lito.
  • No, because the mortgage is not registered with the Registry of Deeds.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Business Law

Authors: Anthony Liuzzo, Ruth Calhoun Hughes

11th Edition

1260734544, 978-1260734546

More Books

Students also viewed these Law questions

Question

What is the least-squares procedure?

Answered: 1 week ago