Practice question
After the mortgage debt is paid, who receives the stated residue before any final balance to mortgagor?
- Every unrelated neighbor equally.
- Junior encumbrancers according to priority ascertained by the court.
- The auctioneer personally.
- Only the last visitor to the property.
- No one may receive any residue.
Legal references
- Civil Code Articles2052,2056-2057,2066,2071-2084 and2126-2130: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- Rules of Court Rule68 Sections3-6: https://lawphil.net/courts/rules/rc_1-71_civil.html
Answer this question in flashcards to review your response and continue practicing.