Author Topic: (30) FAQ About Real Estate-Are Real Properties Sold in PUBLIC Auction Final  (Read 1211 times)

tagalomanoy

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Facts-Because of non payments of real properties covering a long number of years, Davao City caused to be sold at public auction the property of Mr. Juan Dilimobayad.  Did Mr. Dilimobayad lose ownership of his property.

No, the buyer of properties under Public Auction are just temporary owners.  the title is still in the name of the owner Mr. Juan Dilimobayad.  The owner under this public auction sale is given within one year from the date of sale, the right to redeem his property.  His failure to redeem within the prescribed period will prove fatal for the property owner to recover his property, as the buyer, after  the one year period lapsed is now clothe with the authority to transfer the title in his name.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=17322.0
ALEJANDRO TAGAB LAGANSON, SR.
Purok 25-A, Teachers Village, Calinan, D. C.
Licensed Real Estate Broker PRC 0009807
Real Property Asessing Officer (CSC & DOF)ROR 3351 Email  ad: [email protected]

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tagalomanoy

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    • http://finance.groups.yahoo.com/group/faqinquiriesaboutrealestate
Re: (30) FAQ About Real Estate-Are Sales of Auctioned Properties Final
« Reply #1 on: January 22, 2009, 04:36:08 PM »
Facts-Because of non payments of real properties covering a long number of years, Davao City caused to be sold at public auction the property of Mr. Juan Dilimobayad.  Did Mr. Dilimobayad lose ownership of his property.

No, the buyer of properties under Public Auction are just temporary owners.  the title is still in the name of the owner Mr. Juan Dilimobayad.  The owner under this public auction sale is given within one year from the date of sale, the right to redeem his property.  His failure to redeem within the prescribed period will prove fatal for the property owner to recover his property, as the buyer, after  the one year period lapsed is now clothe with the authority to transfer the title in his name.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=17322.0
ALEJANDRO TAGAB LAGANSON, SR.
Purok 25-A, Teachers Village, Calinan, D. C.
Licensed Real Estate Broker PRC 0009807
Real Property Asessing Officer (CSC & DOF)ROR 3351 Email  ad: [email protected]

unionbank online loan application low interest, credit card, easy and fast approval

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