- Hi Atty, may napanalunan po kami na property sa Antipolo nung last Apri7 2015 nung pina auction nila ang mga prop na hindi nabayaran ang tax at nag issue sila ng Certificate of sale sa amin. Ngayon pa ano ang dapat naming gawin para ma salin na sa amin ang titulo sa pangalan namin. Thanks po.
ANS: Una ninyong gawin ay tiyakin na ang mga kaakibat na mga taxes, fees, tungkol dito(BIR-(Certificate Authorizing Registration-CAR) , ASSESSOR’s Office,at at transfer fees/tax ay fully paid.
Then proceed kayo sa office of the Register of Deeds with the original copy of the Certificate of Sale at proof of payments of taxes and the corresponding Certificate Authorizing Registration(CAR) issued by the BIR. Then have the Certificate of Sale registered with the Register of Deeds, para macancell ung lumang title in exchange of a new title under your name. Kindly take note that :
Per Administrative Matter No. 99-10-05-0 (as further amended on 07 August 2001), the Supreme Court prescribed the following procedures in the Extra-judicial foreclosure of mortgage:
After the certificate of sale has been issued to the higher bidder, keep the complete records, while awaiting any redemption within the period of one(1) year from the date of registration of the certificate of sale with the Register of Deeds concerned, after which, the record shall be archived. Notwithstanding the foregoing provisions, juridical persons whose property is sold pursuant to an extrajudicial foreclosure, shall have the right to redeem the property until, but not after, the registration of the certificate of foreclosure sale which in no case shall be more than three(3) months after foreclosure whichever is earlier, as provided in Section 47 of Republic Act No.8791 ( as amended, August 7, 2007).
There is right of Redemption of one(1) year from the registration of the Certificate of sale. If the mortgagor is a juridical person the redemption period is until but not after, the registration of the certificate of foreclosure sale with the applicable Register of Deeds which in no case be more than three(3) months after the foreclosure whichever is earlier.
There is NO right of Redemption but only EQUITY OF REDEMPTION, unless the mortgagee is a bank or banking institution. In the latter instance, the redemption period shall be one(1) year from the date of registration of the Certificate of Sale.
Salamat sa pag sulat mo at iyong pagiging bahagi ng “GLOBAL PINOY BATAS COMMUNITY.”
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