Practice question
If properly applied foreclosure proceeds fully satisfy the proved recoverable debt, is a further unpaid deficiency established merely by calling it one?
- No
- Yes, every foreclosure produces a deficiency
- Yes, a creditor always receives the debt twice
- Yes, if the property was registered
- Yes, whenever the borrower dislikes the sale
Legal references
- Rules of Court: https://lawphil.net/courts/rules/rc_1-71_civil.html Rule68 Sections4–6.
- Spouses Prieto v BPI GR259282 August30,2023 MAIN: https://lawphil.net/judjuris/juri2023/aug2023/gr_259282_2023.html Proved balance and application of sale proceeds.
Answer this question in flashcards to review your response and continue practicing.