Practice question
A mortgage deed expressly prohibits the creditor from purchasing at the power-of-sale auction. The creditor invokes Section5 as though its permission were unconditional. Which qualification matters?
- Section5 recognizes an express contrary deed provision
- The deed can never restrict the creditor’s participation
- Any bidder can privately erase the restriction
- Only the creditor’s address matters
- The public nature automatically nullifies every deed term
Legal references
- Act3135 Sections3–5, unchanged by Act4118 on these points: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/28/20591
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