Practice question
Is the amount of a real-estate loan necessarily the same as the property's jurisdictional assessed value?
- Yes; every loan balance conclusively is assessed value.
- Only the interest rate determines assessed value.
- No; the figures serve different purposes.
- The borrowing date automatically determines jurisdiction.
- The lender may rewrite the statutory value measure.
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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