PD 1521 (The Ship Mortgage Decree of 1978) Section 25

Section 25

SEC. 25. Existing Mortgages Not Affected; exception—This Decree shall not apply (1) to any existing mortgage, or (2) to any mortgage hereafter placed at any vessel under an existing mortgage, so long as such existing mortgage remains undischarged. The Decree shall, however, apply to mortgages executed pursuant to Presidential Decree No. 214, provided that no vested rights of third parties are affected thereby.

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Other provisions in PD 1521 (The Ship Mortgage Decree of 1978)

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationPD 1521 (The Ship Mortgage Decree of 1978) Section 25 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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