Practice question
A plaintiff supplies only a PHP5 million mortgage-loan figure and no assessed value in the complaint or annexes. It asks the court to infer the needed assessed value solely from the loan. What does Veloso teach?
- Every mortgage loan necessarily equals the assessed value.
- A large loan automatically establishes every court's jurisdiction.
- Only the borrower's age fixes the assessment.
- The court must accept any preferred number without a basis.
- That loan-based inference does not substitute for the missing statutory assessed-value basis.
Legal references
- Civil Code Articles434,583-590,622-624 and631: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- RA11576 Sections1-2, current assessed-value allocation: https://lawphil.net/statutes/repacts/ra2021/ra_11576_2021.html
- Spouses Veloso v. BDO, G.R.256924, June14,2023, MAIN, assessed-value allegation and annexes in real actions: https://lawphil.net/judjuris/juri2023/jun2023/gr_256924_2023.html
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