BL3-503E M2 QUIZ 8D Legal Redemption

A. Fill-in the right words in the blanks as written in the law of sales

1. Should two or more co-owners desire to exercise the right of

redemption, they may only do so in _________________ to the
share they may respectively have in the thing owned in common. 

2. The owners of adjoining lands shall also have the right of

redemption when a piece of rural land, the area of which does not
exceed ___________ is alienated, unless the grantee does not own
any rural land.

3. - 4 Whenever a piece of 3.__________ which is so small and so

situated that a major portion thereof cannot be used for any
practical purpose within a reasonable time, having been bought
merely for speculation, is about to be re-sold, the owner of
4._________________ has a right of pre-emption at a reasonable
price.

5. The right of legal pre-emption or redemption shall not be exercised

except within _______________ from the notice in writing by the
prospective vendor, or by the vendor, as the case may be.

B. WRITE TRUE OR FALSE

6._________ The right of legal redemption is not granted solely and

exclusively to the original co-owners but applies to those who
subsequently acquire their respective shares while the community
subsists.

7._________ In case two (2) or more adjacent owners desire to exercise

the right of redemption on rural land, the law gives preference to the
owner of the adjoining land of smaller area but if both lands have the
same area, to the one who first requested the redemption.

8._________ Redemption has been defined as the act or right of

purchasing before others.
9._________ The exercise of the pre-emption or redemption right is within
60 days from notice by the vendor or prospective vendor.

10._________ The period for exercise of right of pre-emption or

redemption provided by laws is absolute and extendible.

C. Answer Briefly: 11-15 What are the requisites for the exercise of
the right of legal redemption of adjacent owners of rural lands?