Article 2097
ELI5— what this means for you
With the consent of the pledgee (person holding collateral), the thing pledged may be alienated by the pledgor (person giving collateral) or owner, subject to the pledge.
Official text — RA 386
With the consent of the pledgee, the thing pledged may be alienated by the pledgor or owner, subject to the pledge. The ownership of the thing pledged is transmitted to the vendee or transferee as soon as the pledgee consents to the alienation, but the latter shall continue in possession. (n)
Source: lawphil.net (RA 386 as amended)
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