LAND TI 2ND Recording 1:05-1:26 Only b participated in the foreclosure sale so that the property was sold to b during

the foreclosure sale in the public auction. So B now has another certificate of title in his favor, now what happens to this certificate of title? The mortgage of c was no longer transferred wla na because B gets it clean according to section 59 because an example of a lien that may be erased is mortgaged lien. B gets it clean already and c now is complaining hey what happen to my mortgage right, sabi ni b wala na goodbye, erase. Is B correct? Thats what happen in PNB vs International corporate bank. 1.06 apparently yes beause of section 59 it says here except release or discharged,, the mortgage of c was released . what should have been the remedy here? Na register na nga to according to b. what happened here his lien was inferior. Now suppose , let us complicate the matter, si A na naman mortgage the same property to B first question can they do that? Yes he can, because there is no transfer of title yet, B is still the owner of the property so under the credit transaction. . January 4 2005 palagay natin may 4 2001 , ok, so this becomes more inferior right tha c the most superior or the holder of the superior right B next wll be C next will be A and so on. What should have been the rights if going by the principle that all mortgages in the title will be discharged and b should get his claim wala na yung mortgage ni C, wala na yung mortgage ni A, what could have been the right of C here under your rules of court, there is such a thing here as EQUITY OF REDEMPTION which is explained more under rules of court under civil procedure under execution because what they should have done to protect the rights further was to participate in the foreclosure proceedings, yun ang dapat ginawa nila. According to the law, B will get title clean. Clean siya. A privilege for being a superior lien. What if in the foreclosure proceedings A did not participate b did not participate but c parcipate and is the highest bidder, whatever proceeds shAll be paid to B and c will get the property. What if b participated and c also participated, and c was declared the highest bidder, what will happen? C will the property and again the proceeds will go to B. so his right will still be protected, he will still recover.

If there is a balance, what will happen? The difference of the obligation and the purchase price. (grabi kasaba di madunggan sakit kau sa dalunggan) This applies to judicial and extrajudicial foreclosure, further this is an in rem proceeding. If you are a lien holder, you have to be aware, you have to be vigilant of your right over the property, you have to have knowledge of the transactions. Nangutang naman c A kay X. A did not pay his debt x filed a motion for collection against a. this is an unsecured oligation wala siyang mortgage. X obtained a favourable judgment so what he did was that, even before the case is terminated he already secured a writ of attachment which is a provisional remedy. So writ of attachment which is actually an example of involuntary pleading. So you have writ of attachment annotated on the title. What happens to the notice of levy? Will it still be released? Remember this is mortgage actually inferior than all the rest of the liens so even including that is raised, because what he just levy was the right of A to the property, what is the right of A? the right of A is subject to mortgage of b to c to d and then the notice of levy was much much greater. Erase everything. If there is annotation you have to be quarry, you have to be careful.