Text of the provision
Art. 2246. Those credits which enjoy preference with respect to specific movables, exclude all others to the extent of the value of the personal property to which the preference refers.
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
Credits enjoying preference with respect to specific movables exclude all others to the extent of the value of that movable.
A preference in this context is not a claim against the debtor's estate generally — it is a right to be paid first out of the proceeds of one particular piece of property. That focus explains the limit the article draws: the preferred creditor's priority reaches only as far as that movable is actually worth. If the property sells for less than the debt, the shortfall becomes an ordinary, unpreferred claim against whatever else the debtor owns; the preference itself does not stretch to cover it.
Questions about this provision
- I have a preferred claim on a specific piece of the debtor's movable property - do I get paid from it ahead of all other creditors?
- I have a preferred claim on a specific piece of equipment for the work I did on it — does that preference exclude all other creditors from touching that item?
Related provisions
- Article 2245 — Credits Without Preference.
- Article 2247 — Two or More Credits on the Same Movable.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.