MORTGAGE; ENCUMBRANCE OR ALIENATION OF MORTGAGED PROPERTY; CREDITOR

CANNOT BE COMPELLED TO GIVE CONSENT TO A LATER DEED OVER PROPERTY

MORTGAGED. — A prohibition in a mortgaged contract against the encumbrance, sale
or disposal of the property mortgaged without the consent of the mortgagee is valid as
not contrary to law, morals, or public interest. The mortgagee in such case can not be
compelled by the courts to give its consent to the registration of a deed of donation of
the property mortgaged by delivering for that purpose the transfer certificate of title in
its possession, contrary to the prohibition.