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Article 1365

RA 386 · Civil Code of the PhilippinesKey provision

ELI5— what this means for you

If two parties agree upon the mortgage or pledge of real or personal property, but the instrument states that the property is sold absolutely or with a right of repurchase, reformation of the instrument is proper.

Official text — RA 386

If two parties agree upon the mortgage or pledge of real or personal property, but the instrument states that the property is sold absolutely or with a right of repurchase, reformation of the instrument is proper.

Source: lawphil.net (RA 386 as amended)

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