Practice question
A third-party landowner validly mortgaged land for another’s debt but made no personal undertaking. The record supplies no personal liability for a deficiency. Creditor relies only on the mortgage to demand Section 6 personal judgment against that owner. Which is correct?
- The property security alone does not establish the required personal deficiency liability.
- Every collateral owner automatically is principal borrower.
- Section 6 never considers the record.
- The creditor may create personal liability by preference.
- All foreclosure necessarily extinguishes every borrower liability too.
Legal references
- Civil Code Articles2052,2056-2057,2066,2071-2084 and2126-2130: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- Rules of Court Rule68 Sections3-6: https://lawphil.net/courts/rules/rc_1-71_civil.html
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