Text of the provision
Art. 1365. If two parties agree upon the mortgage or pledge of real or personal property, but the instrument states that the property is sold absolutely or with a right of repurchase, reformation of the instrument is proper.
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles official-text renderings.
What this article means
If the parties agreed on a mortgage or pledge but the instrument states an absolute sale or a sale with right of repurchase, reformation is proper — a key protection against disguised loans (pactum commissorium / equitable mortgage).
Related provisions
- Article 1364 — Reformation for Drafting Error.
- Article 1366 — When Reformation Is Not Allowed.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.
Note. The text of the provision above is reproduced in full from the official enactment (Republic Act No. 386), verified against the LawPhil and ChanRobles renderings. The annotation and commentary around it are the work of Vivas & Nobles Law Office and are general legal information, not legal advice. How a provision applies to a particular situation depends on facts that only a lawyer reviewing your case can assess.