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Right of Redemption VS Equity of Redemption
Right of Redemption VS Equity of Redemption
EQUITY OF REDEMPTION
But such one (1) year period for redemption no longer applies to juridical
persons (as mortgagors) whose real property has been mortgaged with a
bank (mortgagee). Their right to redeem the property shall be until, but not
after, the registration of the certificate of foreclosure sale with the applicable
Register of Deed which in no case shall not be more than three (3) months
after foreclosure, whichever is earlier.