Monday, December 8, 2014

IN RE: LRC CASE RTC DECISION IN FAVOR OF PETITIONER BALIKATAN

Exceptions to the rule that the issuance of a writ of possession is a ministerial function of the court.

These are: 1) Gross inadequacy of purchase price; 2) Third party claiming right adverse to debtor/mortgagor (Palmera Homes, Inc), and 3) Failure to pay the surplus proceeds of the sale.

ALL these peculiar circumtances were found in the Balikatan case.

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