An Act to Amend Section One of Republic Act Numbered One Hundred and Thirty-Three, Entitled "An Act to Authorize the Mortgage of Private Real Property in Favor of Any Individual, Corporation, or Association Subject to Certain Conditions"
Year:
1965
Category:
Other
Date Approved:
June 19, 1965
Summary
Plain-language AI-assisted summary — not the official text. As of July 1, 2026. Read the full text below or on the official source.
This Act amends Section One of Republic Act No. 133, allowing private real property to be mortgaged in favor of individuals, corporations, or associations. It specifies conditions under which the mortgagee may not take possession or enjoy the fruits of the mortgaged property if disqualified from holding lands in the Philippines.Full Text
REPUBLIC ACT No. 4381
An Act to Amend Section One of Republic Act Numbered One Hundred and Thirty-Three, Entitled "An Act to Authorize the Mortgage of Private Real Property in Favor of Any Individual, Corporation, or Association Subject to Certain Conditions"
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Section one of Republic Act Numbered One hundred and thirty-three is hereby amended to read as follows:
Section 2. This Act shall take effect upon its approval.
Approved: June 19, 1965.
"Sec. 1. Any provision of law to the contrary notwithstanding, private real property may be mortgaged in favor of any individual, corporation, or association, but the mortgage or his successor in interest, if disqualified to acquire or hold lands of the public domain in the Philippines, shall not take possession or enjoy the fruits of the mortgaged property during the existence of the mortgage and shall not bid or take part in any sale of such real property in case of foreclosure."
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Republic Acts are laws passed by the Congress of the Philippines. This content is sourced from LawPhil (lawphil.net) for reference purposes. For official and authoritative texts, please refer to the Official Gazette.