This case has been cited 1 times or more.
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2001-07-12 |
KAPUNAN, J. |
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| Accordingly, an execution creditor who levies his execution upon property that the judgment debtor has mortgaged to another can sell at most only the equity of redemption belonging to the mortgagor.[26] As it is the equity of redemption that the subordinate lien holders had acquired by the levy on execution and that was sold in the public auction, this equity, not the property itself, was what the purchasers, who incidentally are the subordinate lien holders themselves, bought at the execution sale. | |||||