| CONTACT: |
| Supreme Court of the Philippines Library Services, Padre Faura, Ermita, Manila, Philippines 1000 |
| (632) 8524-2706 |
| libraryservices.sc@judiciary.gov.ph |
[ Act No. 2642., February 24, 1916 ]
AN ACT AMENDING ACT NUMBERED ELEVEN HUNDRED AND TWENTY, AS AMENDED, AND FOR OTHER PURPOSES.
By authority of the United States, be it enacted by the Philippine Legislature, that:
SECTION 1. Section fifteen of Act Numbered Eleven hundred and twenty is hereby amended to read as follows:
"SEC. 15. The Government hereby reserves the title to each and every parcel of land sold under the provisions of this Act until the full payment of all installments of purchase money and interest by the purchaser has been made, and any sale or incumbrance made by him shall be invalid as against the Government of the Philippine Islands and shall be in all respects subordinate to its prior claim.
"The rights of possession and purchase acquired by certificates of sale signed under the provisions hereof by purchasers of friar lands, pending final payment and the issuance of title, shall be considered as personal property for -the purposes of serving as security for mortgages, and shall be considered as such in judicial proceedings relative to such security."
SEC. 2. This Act shall take effect on its passage.
Enacted, February 24, 1916.
SECTION 1. Section fifteen of Act Numbered Eleven hundred and twenty is hereby amended to read as follows:
"SEC. 15. The Government hereby reserves the title to each and every parcel of land sold under the provisions of this Act until the full payment of all installments of purchase money and interest by the purchaser has been made, and any sale or incumbrance made by him shall be invalid as against the Government of the Philippine Islands and shall be in all respects subordinate to its prior claim.
"The rights of possession and purchase acquired by certificates of sale signed under the provisions hereof by purchasers of friar lands, pending final payment and the issuance of title, shall be considered as personal property for -the purposes of serving as security for mortgages, and shall be considered as such in judicial proceedings relative to such security."
SEC. 2. This Act shall take effect on its passage.
Enacted, February 24, 1916.