Practice question
A deed recites that the real estate alone determines the Section 1 bond amount. Personal property is separately valued under oath. Which correction is needed?
- All land market values necessarily replace the stated basis.
- The bond is always the lawyer’s fee.
- A bank’s chosen amount conclusively controls.
- The prescribed bond is tied to the certified value of personal property involved.
- The heirs may replace the statutory basis with a random figure.
Legal references
- Rules of Court, Rule 74 Section 1 and its publication cross-reference to Section 2: https://lawphil.net/courts/supreme/rc/rc_72-109_proceedings.html
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