DIFFERENCES

Pledge Real Mortgage Chattel Mortgage Antichresis

Object movables/perso immovables and Movables/personal immovables/

nal property alienable real property real property
rights imposed
upon
immovables

Manner of when the thing consensual; can personal property formal contract;
perfection pledged is be oral or must be recorded in must be in
delivered to the writing the Chattel Mortgage writing
creditor or a Register
third person.

Execution of public necessary to an affidavit of good merely for

public document bind third faith is necessary to convenience
instrument showing the persons bind third persons
description of
the thing
pledged and the
date it was
pledged is
necessary in
order to bind
third persons

Necessity of registration is must be must be registered to registration is

Registration not necessary registered to the the Chattel Mortgage not necessary
Registry of Register situated in
Deeds to bind the Registry of
third persons Deeds to bind third
persons; Registration
gives the mortgagee
symbolical
possession

Remedy in Deficiency Deficiency can Deficiency can be Deficiency can

case of cannot be be recovered recovered except in be recovered
deficiency in recovered case of personal
foreclosure property sold on
sale installment basis and
lease of personal
property with an
option to buy
 Obligations it all kinds of future cannot guarantee all kinds of
can secure obligations obligations future obligations obligations

Use of the use is only use is impossible use is impossible use is allowed
thing/security allowed when since the since the property is and the fruits
authorized by property is not in not in the possession will be applied
the pledgor and the possession of of the mortgagee to the principal
when necessary the mortgagee and interest on
for its the principal
preservation debt

Constitution pledge can only mortgagor can mortgagor can Antichresis can
of the be executed execute another execute another only be
contract on once mortgage on the mortgage on same executed once
the same same property property
object

SIMILARITIES
● Accessory contracts
● Does not transfer ownership
● Constituted to secure the fulfillment of a principal obligation
● Pledgor and mortgagor must be the absolute owner of the thing pledged or mortgaged