Writ of Possession in Extrajudicial Foreclosure: A Plea to Resuscitate a Moribund Writ
Act No. 3135 governs the procedure for extrajudicial foreclosure of real estate mortgages. In case the real property is sold after foreclosure, the mortgagor or junior lienholder has a right of redemption within one year from the registration of the foreclosure sale. The rule is that the mortgagor is entitled to the possession of the…