Case Digest (G.R. No. L-21720)
Facts:
- The case involves an appeal from an order of the Court of First Instance of Rizal.
- The petitioner, IFC Service Leasing and Acceptance Corporation, filed a verified petition for the extrajudicial foreclosure of a mortgage on the property of the spouses Venancio Nera and Rosa F. Nera.
- The property, located at No. 9 Aleman Street, Quezon City, consisted of a house and lot.
- The property was sold to the petitioner as the highest bidder for P28,451.77 after the period of redemption expired.
- The petitioner was issued a new title for the property.
- The respondent, Venancio Nera, filed a motion to set aside the writ of possession and the auction sale, claiming that the court had no jurisdiction to issue the writ and that the price at which the property was sold was grossly inadequate.
Issue:
- (Unlock)
Ruling:
- The court ruled in favor of the petitioner.
- The court affirmed that a purchaser at a sheriff's sale of real property is not required to bring a separate suit for possession after the one-year redemption period has expired...(Unlock)
Ratio:
- The court based its decision on Section 35 of Rule 39 of the Revised Rules of Court, which states that if no redemption is made within twelve months after the sale, the purchaser is entitled to a conveyance and possession of the property.
- The court cited the case of Tan Soo Huat vs. Ongwico, where it was held that there is no law in the jurisdiction that obliges the purchaser at a sheriff's sale to bring a separate suit for possession after the redemption period has expired and after obtaining the sheriff's final certificate of sale.
- The court emphasized that there is neither a legal ground nor a reason of public policy that precludes the court from ordering the sheriff to yield possession of the property purchased...continue reading
Case Digest (G.R. No. L-21720)
Facts:
The case involves IFC Service Leasing and Acceptance Corporation as the petitioner-appellee and Venancio Nera as the movant-appellant. The events leading to this case began with the issuance of a writ of possession by the Court of First Instance of Rizal on February 26, 1963, based on an ex parte application from the appellee. The appellee, as the mortgagee, sought possession of a property owned by the spouses Venancio Nera and Rosa F. Nera, located at No. 9 Alcman Street, Quezon City. The appellee had previously filed a verified petition for the extrajudicial foreclosure of the mortgage on the property, which was sold at an auction on October 27, 1961, for the amount of P28,451.77. The period for redemption expired on October 27, 1962, without the property being redeemed, leading to the consolidation of the property in the name of the appellee, who was subsequently issued a new title, Transfer Certificate of Title No. 65575.
On March 6, 1963, the appellant filed a motion for reconsideration of the writ of possession, claiming that he was misled by the appellee regarding the expiration of the redemption period. The appellant asserted that he was informed on October 31, 1962, that the redemption period had lapsed, while he later discovered that the sale was registered only on November 3, 1961, which should have been the starting point for the redemption pe...