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G.R. No.

143687 July 31, 2001

SPOUSES RAMON ESTANISLAO, JR. and DINA TEOTICO


ESTANISLAO, petitioners,
vs.
COURT OF APPEALS, HI-YIELD REALTY, INC., HUMBERTO BASCO, and
NORBERTO VASQUEZ,respondents.

FACTS:
Petitioners are spouses Ramon Estanislao, Jr. and Dina Teotico, who, in 1985 mortgaged
a portion of land for a loan of P200,000.
For failure to comply with payment conditions, the mortgage was foreclosed and the lot
was sold on December 9, 1988 for P445,000 to Hi-Yield Realty. On June 9, 1992, the
Certificate of Sale was issued. The beginning period of the redemption of sale is on the
day the Certificate of Sale was issued.
On June 4, 1993 (361 days after the Certificate of Sale was Issued), petitioners offered
to redeem the lot for P445,000 but were denied because the amount did not cover the
interests/other charges.
On June 21, 1993 (378 days after the Certificate of Sale was Issued), petitioners offered
to redeem the lot again for P445,000 with an additional P81,521.27. They were denied
because of the court’s error of ruling that the interest for the mortgage was P240,300. The
actual amount in interest should have been P53,400.
Petitioners were not informed of the amount of the interest and thus were unable to cover
said amount in their initial redemption claim on June 4, 1993.
ISSUE/S:
Whether or Not the petitioners should be granted relief despite having failed to redeem
the lot in question on the time period specified by law.
RULING:
The court finds that the petitioner’s petition is without merit. This decision is based on
Section 6 of Act No. 3135, setting the redemption period for an extrajudicial sale to be 1
year after the sale.
Petitioners failed to redeem their property on the specified redemption period of June 9,
1992 to June 9, 1993.
ANALYSIS:
According to Section 6 of Act No. 3135, judicially foreclosed and auctioned properties
may be redeemed “the same at any time within the term of one year from and after the
date of the sale.”
Since the petitioners were only able to provide for the P445,000 and the P53,400 on June
21, 1993 (361 days after the Certificate of Sale was issued), they have surpassed the
time period allocated for redemption of the judicially-foreclosed lot.
LAWS:
Section 6. Act. No 3135 - In all cases in which an extrajudicial sale is made under the
special power hereinbefore referred to, the debtor, his successors in interest or any
judicial creditor or judgment creditor of said debtor, or any person having a lien on the
property subsequent to the mortgage or deed of trust under which the property is sold,
may redeem the same at any time within the term of one year from and after the date of
the sale; and such redemption shall be governed by the provisions of sections four
hundred and sixty-four to four hundred and sixty-six, inclusive, of the Code of Civil
Procedure, in so far as these are not inconsistent with the provisions of this Act.
Rule 39. Section 30. 1964 Rules of Court - The judgment debtor, or redemptioner,
may redeem the property from the purchaser, at any time within twelve (12) months
after the sale. (THIS MEANS 360 DAYS)
Article 13. Civil Code - "When the laws speak of years, months, days or nights, it shall
be understood that years are of three hundred sixty-five days each.”