Practice question
A mortgage creditor elects under Rule 86, Section 7 to rely entirely on the security. Does that election carry participation in the estate’s other assets?
- Yes, automatically for every unpaid balance.
- Yes, but only if no heir objects.
- No; the creditor is not admitted as an estate creditor and receives no share in the other assets.
- Yes, without presenting any estate claim.
- Yes, as an ordinary creditor while exclusively retaining this election.
Legal references
- Rules of Court, Rules 86-90, provisions specifically identified in the explanations: https://lawphil.net/courts/rules/rc_72-109_proceedings.html
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