The document discusses a case where spouses mortgaged land to a bank, then sold the land to other spouses with the bank's knowledge and consent. When the new spouses failed to pay the loan, the bank foreclosed and was the sole bidder at auction. The certificate of sale stated a 2-year redemption period. Nearly 2 years later, the new spouses tried to redeem but the bank said the period was only 1 year. The court ruled that the bank was conclusively presumed to have agreed to the 2-year period because it received the certificate but did not object, misleading the new spouses.
The document discusses a case where spouses mortgaged land to a bank, then sold the land to other spouses with the bank's knowledge and consent. When the new spouses failed to pay the loan, the bank foreclosed and was the sole bidder at auction. The certificate of sale stated a 2-year redemption period. Nearly 2 years later, the new spouses tried to redeem but the bank said the period was only 1 year. The court ruled that the bank was conclusively presumed to have agreed to the 2-year period because it received the certificate but did not object, misleading the new spouses.
The document discusses a case where spouses mortgaged land to a bank, then sold the land to other spouses with the bank's knowledge and consent. When the new spouses failed to pay the loan, the bank foreclosed and was the sole bidder at auction. The certificate of sale stated a 2-year redemption period. Nearly 2 years later, the new spouses tried to redeem but the bank said the period was only 1 year. The court ruled that the bank was conclusively presumed to have agreed to the 2-year period because it received the certificate but did not object, misleading the new spouses.
The document discusses a case where spouses mortgaged land to a bank, then sold the land to other spouses with the bank's knowledge and consent. When the new spouses failed to pay the loan, the bank foreclosed and was the sole bidder at auction. The certificate of sale stated a 2-year redemption period. Nearly 2 years later, the new spouses tried to redeem but the bank said the period was only 1 year. The court ruled that the bank was conclusively presumed to have agreed to the 2-year period because it received the certificate but did not object, misleading the new spouses.
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1ST SLIDE Section 2 of Rule 131 provides for the instances
where there is conclusive presumptions.
Spouses Cesar and Leonila Reyes were the owners of three (3) parcels of land which they And this case falls under the first instance which mortgaged to Ibaan Rural Bank. is whenever a party has, by his or her own declaration, act, or omission intentionally and Subsequently, with the knowledge and consent deliberately led another to believe a particular of the bank, the lots were sold to Spouses thing true, and to act upon such belief, he or Tarnate and a Deed of Absolute Sale with she cannot, in any litigation arising out of such Assumption of Mortgage was issued. declaration, act, or omission, be permitted to However, Spouses Tarnate failed to pay the falsify it. loan so the bank extra-judicially foreclosed on 5TH SLIDE the mortgaged lots. In this case, the Court said that when the bank received a copy of the Certificate of Sale, it had 2ND SLIDE actual and constructive knowledge of the two- year redemption period as stated in the In the public auction, the lots were awarded to certificate. Since, it did not object to the two- the bank which is the sole bidder. Thereafter year redemption period, it could be said that the Provincial Sheriff issued a Certificate of Sale. the bank consented to such. Wherein, it was stated that the redemption So, by its silence and inaction, the bank misled period will expire two (2) years from the Spouses Tarnate to believe that they had two registration of the sale. years to redeem the foreclosed lots. The bank, Nearly two years thereafter, the Spouses now, cannot assert that the period for spouses offered to redeem the lots. They redemption was only one year. argued that they were entitled to redeem the Therefore, there the two-year redemption foreclosed lots because they offered to redeem period is conclusively presumed and the bank and tendered the redemption price before the cannot be permitted to falsify it. deadline of the 2-year redemption period.
The bank opposed the redemption, contending
that at the time the Spouses offered to redeem the lots, the right to redeem had prescribed, as more than one year had elapsed from the registration of the Certificate of Sale.
3RD SLIDE
Which brings us to the issue of WHETHER OR
NOT THE TWO-YEAR REDEMPTION PERIOD CAN BE CONCLUSIVELY PRESUMED. – YES.