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Thus:
Art. 415. The following are immovable property:
Land, buildings, roads and constructions of all
kinfs adhered to thesoil; xxxx5. Machinery,
receptacles, instruments or implements
intended bythe owner of the tenement for an
industry or works wich may becarried on in a
building or on a piece of land, and which
tenddirectly to meet the needs of the said
industry or works
garcia vs villar gr-158891
The mortgagee's purchase of the subject
property did not violate the prohibition on
pactum commissorium. The power of attorney
provision above did not provide that the
ownership over the subject property would
automatically pass to the mortgagee upon the
mortgagor's failure to pay the loan on time.
What it granted was the mere appointment of
the mortgagee as attorney-in-fact, with
authority to sell or otherwise dispose of the
subject property, and to apply the proceeds to
the payment of the loan. This provision is
customary in mortgage contracts, and is in
conformity with Article 2087 of the Civil Code, G.R. No. 158891
Prohibition on pactum commissorium
[39]
Issue:
Whether or not the doctrine of indivisibility of
mortgage is applicable in the case at bar
Ruling:NO.
We cannot subscribe to the Yaps argument on
the indivisibility of the
mortgage. As held in the caseof
Philippine National Bank v. De los Reyes
,
[44]
the doctrine of indivisibility of mortgage does
not apply once themortgage is extinguished by
a complete foreclosure thereof as in the instant
case. The Court held:The parties were
accordingly embroiled in a hermeneutic
disparity on their aforesaid contendingpositions.
Yet, the rule on the indivisibility of mortgage
finds no application to the case at bar.The
particular provision of the Civil Code referred to
provides:
Art. 2089.
A pledge or mortgage is indivisible, even
though the debt may bedivided among the
successors in interest of the debtor or of the
creditor.
Therefore, the debtors heir who has paid a part
of the debt cannot ask for the