Plano acotado de la unidad de aire de purga

When Available

(1) For personal property – there is NO right of redemption as the sale is absolute

(2) For real property – right of redemption is available

Who May Redeem [Sec. 27, Rule 39]

(1) Judgment obligor, or his successor in interest;

• Successors-in-interest include, among others, one to whom the debtor has conveyed his interest in the property for purposes of redemption

(2) A creditor having a lien by virtue of an attachment, judgment or mortgage on the property sold, subsequent to the lien under which the property was sold. • Redeeming creditors are called

redemptioner.

Unlike a judgment obligor, such redemptioner must prove his right to redeem by producing the ff. documents:

(1) The documents necessary to establish his right to redeem:

(a) A copy of the judgment or final order under which he claims the right to redeem, certified by the clerk of the court wherein judgment or final order was entered;

(b) If he redeems upon a mortgage or other lien, a memorandum of the record thereof, certified by the Register of Deeds; or

(c) An original or certified copy of any assignment necessary to establish his claim; and

(2) An affidavit executed by him or his agent showing the amount then actually due on the lien [Sec. 30]

If the lien of the creditor is prior to the judgment under which the property was sold:

(1) He is not a redemptioner

(2) He cannot redeem since his interests in his lien are fully protected. Any purchaser at a public auction takes the same subject to such prior lien which he has to satisfy When Redemption Can be Made [Sec.

28, Rule 39]

WHO WHEN

By the JUDGMENT DEBTOR

Within 1 year from date of registration of certificate of sale

By FIRST REDEMPTIONER

Within 1 year from date of registration of certificate of sale

BY ALL SUBSEQUENT REDEMPTIONERS

Within 60 days from last redemption

PROVIDED that judgment debtor has not exercised his right of redemption In all cases, judgment debtor shall have the entire 1 year period from date of registration of sale to redeem the property. If judgment debtor redeems, no further redemption is allowed [Sec. 29].

NOTE: There is no extension or interruption of redemption period.

REDEMPTION PRICE

(1) By the Judgment Debtor or First Redemptioner:

(a) Purchase PRICE

(b) 1% INTEREST thereon up to time of redemption

(c) Any amount of ASSESSMENTS OR TAXES which purchaser may have paid after purchase as well as interest on such last named amount at the same rate

(d) If purchaser is also a creditor having a PRIOR LIEN to that of redemptioner, other than the judgment under which such purchase was made, the AMOUNT of such OTHER LIEN, also with interest

(2) By all Subsequent Redemptioners

(a) AMOUNT paid on last redemption

(b) 2% INTEREST thereon

(c) Any amount of ASSESSMENTS OR TAXES which purchaser may have paid after purchase as well as interest on such last named amount at the same rate

(d) Amount of any LIENS held by said last redemptioner prior to his own, also with interest

If redemption is made by the Judgment Obligor

(1) No further redemption is allowed

(2) He is restored to his estate [Sec. 29, Rule

39]

When a judgment debtor redeems the property, what is effected is the elimination of the lien created by the levy on attachment or judgment on the registration of mortgage thereon. Note that he never lost ownership so there is no recovery of ownership.

Payment of redemption price may be made to the:

(1) Purchaser or redemptioner, or

(2) For him to the officer who made the sale The person to whom redemption payment is made must execute and deliver to him a CERTIFICATE OF REDEMPTION

(1) Acknowledged by a notary public or other officer authorized to take acknowledgements of conveyances of real property

(2) Filed and recorded in the registry of deeds of the place which the property is situated (3) Registrar must note the record on the

margin of the record of the certificate of sale

RIGHTS PENDING REDEMPTION [Secs. 31-32, Rule 39]

Right of Judgment Creditor Pending Redemption

(1) Apply for injunction to restrain the commission of waste on the property Rights of the Judgment Debtor Pending Redemption

(1) Remain in possession of the property (2) Cannot be ejected

(3) Use the property in the same manner it was previously used

(4) Make necessary repairs to buildings thereon while he occupies the property (5) Use it in the ordinary course of husbandry

[Sec. 31]; and

(6) Collect rents, earning and income derived from property until the expiration of period of redemption

EXPIRATION OF REDEMPTION PERIOD [Sec.

33, Rule 39]

Judgment obligor shall have the entire period of one year from date of registration of sale to redeem the property.

ENTITLEMENT TO CONVEYANCE AND POSSESSION

(1) Of Purchaser at Auction Sale

• If there is no redemption made within 1 year from date of registration of the certificate of sale

(2) Of Last Redemptioner

• If there was redemption, and 60 days have elapsed and no other redemption has been made

• Notice must have been given, and the redemption period has elapsed

Two Documents which the Sheriff Executes in case of Real Property

(1) CERTIFICATE OF SALE

• After auction sale, he will execute in favor of the purchaser the certificate of sale under Sec. 25

• From registration of said certificate, the one year redemption period starts • Certificate of sale after execution sale is

merely a memorial of the fact of sale and does not operate as conveyance

(2) DEED OF CONVEYANCE

• Issued if after expiration of redemption period there is no redemption

• Operates to transfer to purchaser whatever rights the judgment debtor had in the property

• The effect of a final deed of sale transfers the right as of the time of the levy

RECOVERY OF PURCHASE PRICE IF SALE NOT EFFECTIVE [Sec. 34, Rule 39]

Purchaser may recover the purchase price when:

(1) Purchaser or his successor-in-interest fails to recover possession the property; or

(2) Evicted due to:

(a) Irregularities in the proceedings concerning the sale;

(b) Judgment has been reversed or set aside;

(c) The property sold was exempt form execution; or

(d) A third person has vindicated his claim to the property

REMEDIES OF THE PURCHASER

(1) File a motion in the same action or file a separate action to recover from judgment creditor the price paid

(2) File a motion for revival of judgment in his name against judgment debtor; or

(3) Bring an action to recover possession of property