This case has been cited 2 times or more.
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2012-10-03 |
PEREZ, J. |
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| (4) There must be the validity of the new contract.[23] | |||||
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2008-12-10 |
CARPIO MORALES, J. |
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| It is settled that the buyer in a foreclosure sale becomes the absolute owner of the property purchased if it is not redeemed during the period of one year after the registration of sale. As such, he is entitled to the possession of the property and can demand it any time following the consolidation of ownership in his name and the issuance of a new transfer certificate of title. In such a case, the bond required in Section 7 of Act No. 3135 is no longer necessary. Possession of the land then becomes an absolute right of the purchaser as confirmed owner. Upon proper application and proof of title, the issuance of the writ of possession becomes a ministerial duty of the court.[25] (Emphasis and underscoring supplied) Branch 105 need not, under the circumstances, look into the validity of the mortgages or the manner of their foreclosure.[26] The writ issues as a matter of course, and the court neither exercises its official discretion nor judgment.[27] | |||||