Quote Originally Posted by machine.pistol View Post
In dacion en pago, the debtor/owner/mortgagor has to give consent to the sale of the property at the agreed price. In other words, the creditor cannot force the debtor to part with ownership of property in settlement of the debt. The debtor will still have to sign a deed of sale of the property in favor of the creditor.
so given na ipambabayad ay property sa pera na inutang... instead of going through foreclosure proceedings, kahit na may provision for extrajudicial foreclosure... dacion en pago pa rin.. pero the document title will be absolute deed of sale pa rin? hindi dacion en pago?