Practice question
A property’s delinquencies are stipulated to be paid pursuant to an existing compromise agreement. The owner argues that converting the next compromise installment into a single lump-sum payment removes the RA12001 Section30 exclusion automatically. No cancellation of the compromise or other change in legal status occurred. Which is correct?
- The exclusion concerns delinquencies being paid pursuant to a compromise; changing payment format alone does not erase that status
- Any lump-sum payment necessarily destroys every compromise
- The amnesty automatically cancels principal because a compromise exists
- The owner may privately repeal the exclusion
- Section30 contains no compromise-related exclusion
Legal references
- RA12001 Real Property Valuation and Assessment Reform Act: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html Section30(b) exclusion.
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