Practice question
A court finds that a purchaser ignored an annotated adverse claim, knowingly accepted the identified risk, and was negligent in acquiring the property. The purchaser loses the property and invokes the Assurance Fund solely because a certificate was issued. Is issuance alone enough?
- Yes, every issued certificate guarantees payment.
- Yes, because negligence is relevant only to criminal liability.
- Yes, provided the purchaser paid documentary stamp tax.
- Yes, because a private risk agreement binds the Fund.
- No, the established negligence defeats the section95 condition.
Legal references
- https://lawphil.net/statutes/presdecs/pd1978/pd_1529_1978.html — PD1529, sections95,97,101.
- https://lawphil.net/judjuris/juri2018/jul2018/gr_224678_2018.html — Spouses Stilianopoulos v Register of Deeds for Legazpi City, GR224678, July3 2018, main opinion: registration fraud and breach of trust.
- https://lawphil.net/judjuris/juri2015/aug2015/gr_171804_2015.html — Register of Deeds of Negros Occidental v Anglo, Sr., GR171804, August5 2015, main opinion: section95 and claimant negligence.
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