Acquisitions of, losses of and changes in real rights on immovables may not be duly asserted against any third parties, unless the same are registered pursuant to the applicable provisions of the Real Property Registration Act (Act No. 123 of 2004) and other laws regarding registration.
The transfer of a real right on movables may not be duly asserted against a third party, unless the movables are delivered.
(1) If ownership and another real right on the same thing are acquired by the same person, the other real right is extinguished; provided, however, that this does not apply if that thing or the other real right is the object of the right of a third party.
(2) If a real right other than ownership and another right for which that real right is the object are acquired by the same person, the other right is extinguished.In this case, the provisions of the proviso to the preceding paragraph apply mutatis mutandis.
(3) The provisions of the preceding two paragraphs do not apply to possessory rights.