GR L 11845; (February, 1918) (Digest)
G.R. No. and Date: G.R. No. L-11845; February 18, 1918
Case Title: MAGDALENO GOMEZ, plaintiff-appellant, vs. “LA GERMINAL” and JUAN TUASON, defendants-appellants.
FACTS:
1. “La Germinal” obtained a money judgment against Vicente Torres. Upon execution, Torres’s property was sold at a sheriff’s public auction to “La Germinal” for P2,000 on October 10, 1914. The sheriff’s deed stipulated Torres’s right to redeem the property within twelve (12) months.
3. The following day, September 29, 1915, Magdaleno Gomez formally notified “La Germinal” of the purchase and offered to redeem the property by paying the auction price of P2,000, plus interest and costs, less the amount of rents “La Germinal” had collected from the property during its occupancy. “La Germinal” refused the offer.
4. Gomez commenced an action, depositing the computed redemption amount in court. “La Germinal” defended by alleging the sale of the equity of redemption from Torres to Gomez was feigned and fraudulent.
ISSUE: Whether Magdaleno Gomez, as the successor-in-interest of the judgment debtor Vicente Torres, is the owner of the equity of redemption and is entitled to compel “La Germinal” to reconvey the property to him upon proper payment.
RULING: Yes. The Supreme Court affirmed the lower court’s judgment in favor of Magdaleno Gomez.
1. The sale of the equity of redemption by Vicente Torres to Magdaleno Gomez was valid and supported by consideration, not feigned or fraudulent.
2. Under Section 464 of Act No. 190 (Code of Civil Procedure), the judgment debtor’s right of redemption is alienable. By virtue of the valid sale, Gomez succeeded to all of Torres’s rights, including the right to redeem the property within the statutory period.
3. The redemption price is governed by Articles 465 and 469 of Act No. 190 . The redeeming party must pay the purchase price at the auction sale (P2,000), plus interest and costs incurred by the purchaser (P260.55), or a total of P2,260.55. This amount is reducible by the rents or income derived by the purchaser from the property during the redemption period (P496.07).
4. Consequently, the net amount required to effect the redemption was P1,764.48. By tendering this amount (through deposit in court) within the redemption period, Gomez validly exercised the right of redemption and became entitled to a reconveyance of the property.
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