Professional Documents
Culture Documents
UNC Mortgage Foreclosure
UNC Mortgage Foreclosure
KINDS OF MORTGAGE
REQUISITES OF A MORTGAGE
FORECLOSURE
JUDICIAL
FORECLOSURE
EXTRAJUDICIAL FORECLOSURE
&
FLOW
OF
FORECLOSURE
EXTRAJUDICIAL
EXTRAJUDICIAL FORECLOSURE
Equity of redemption vs
Right of Redemption
EQUITY OF REDEMPTION
RIGHT OF REDEMPTION
Judicial foreclosure
Extra-judicial foreclosure
PERIOD OF REDEMPTION
Right of redemption
1 year
Equity of redemption 90-120 days
General Banking Act RA 8791
(mortgagee is an individual)
1 year
(mortgagee is a juridical person)
3 months
Rural Bank Act (RA 720)
property is covered by TCT
1year
homestead/free patent
2 years
Public Land Act (CA 141)
5 years
THANK YOU!
SOURCES:
LAND TITLES AND DEEDS-Pena & Pena
Land Titles Noblejas
The law on ejectment and lease-Manalastas
LEGAL FORUM/Atty. Biron
NEW CIVIL CODE
Wikipedia
THANK YOU!
SOURCES:
LAND TITLES AND DEEDS-Pena & Pena
Land Titles Noblejas
The law on ejectment and lease-Manalastas
LEGAL FORUM/Atty. Biron
NEW CIVIL CODE
Wikipedia
LEGAL AND GENERAL COUNSEL
GROUP
WHAT IS LEASE?
Period of lease:
The lease period depends on the agreement of the lessor and the
lessee which in no case shall exceed:
LEASE
RA 9653
Extended until December 31, 2015
Limits the rent increase on any
residential property to no more than 7%
annually while occupied by the same
tenant
NCR up to P10,000; other areas up to
P 5,000
The HUDCC has the authority to continue
regulating the rent, to determine the
period of rent and to extend rent
YES.
The law covers only residential units.
Commercial units are not covered by RA
9653.
LEGAL AND GENERAL COUNSEL
GROUP
EJECTMENT
THANK YOU!
SOURCES:
LAND TITLES AND DEEDS-Pena & Pena
Land Titles Noblejas
The law on ejectment and lease-Manalastas
LEGAL FORUM/Atty. Biron
NEW CIVIL CODE
Wikipedia
LEGAL AND GENERAL COUNSEL
GROUP