Practice question
A Section47 redemption computation includes PHP1,000,000 due under the deed, PHP100,000 applicable interest and PHP40,000 proper costs, with PHP20,000 deductible income. Assuming these are all the required components, what is the amount?
- PHP1,120,000
- PHP1,160,000
- PHP1,000,000
- PHP140,000
- PHP20,000
Legal references
- Rules of Court: https://lawphil.net/courts/rules/rc_1-71_civil.html Rule68 Sections2–3.
- RA8791: https://lawphil.net/statutes/repacts/ra2000/ra_8791_2000.html Section47 redemption amount and bank judicial foreclosure.
- Spouses Lontoc v Spouses Tiglao GR217860 January29,2024 MAIN: https://lawphil.net/judjuris/juri2024/jan2024/gr_217860_2024.html Equity and statutory rights distinguished.
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