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This web page features the full text of
A.M. NO. 99-10-05-0
(As further amended on August 7, 2001)
Read full text of:chanroblesvirtuallawlibrary
A.M. NO. 99-10-05-0 [March 1, 2001]
Procedure in Extra-judicial Foreclosure of Mortgage.
A.M. NO. 99-10-05-0
[As further Amended on August 7, 2001]
 
PROCEDURE IN EXTRA-JUDICIAL FORECLOSURE OF MORTGAGE
      
EN BANC
 
In line with the responsibility of an Executive Judge under Administrative Order No. 6, date June 30, 1975, for the management of courts within his administrative area, included in which is the task of supervising directly the work of the Clerk of Court, who is also the Ex-Office Sheriff, and his staff, and the issuance of commissions to notaries public and enforcement of their duties under the law, the following procedures are hereby prescribed in extra-judicial foreclosure of mortgages:chanroblesvirtuallawlibrary
    1. All applications for extrajudicial foreclosure of mortgage whether under the direction of the sheriff or a notary public, pursuant to Act 3135, as amended by Act 4118, and Act 1508, as amended, shall be filed with the Executive Judge, through the Clerk of Court who is also the Ex-Officio Sheriff.

    2. Upon receipt of an application for extra-judicial foreclosure or mortgage, it shall be the duty of the Clerk of Court to:chanroblesvirtuallawlibrary
     

      a) receive and docket said application and to stamp thereon the corresponding file number, date and time of filing;

      b) collect the filing fees thereof pursuant to Rule 141, section 7(c), as amended by A.M. No. 00-2-01-SC, and issuance the corresponding official receipt;

      c) examine, in case of real estate mortgage foreclosure, whether the applicant has complied with all the requirements before the public auction is conducted under the direction of the sheriff or a notary public, pursuant to Sec. 4 of Act. 3135, as amended;

      d) sign and issue the certificate of sale, subject to the approval or the Executive Judge, or in his absence, the Vice-Executive Judge. No certificate of sale shall be issued in favor of the highest bidder until as fees provided for in the aforementioned sections and in Rule 141, Section 9(1), as amended by A.M. No. 00-2-01-SC, shall have been paid; Provided, that in no case shall the amount payable under Rule 141, Section 9(1), as amended, exceed P100,000.00;

      e) after the certificate of sale has been issued to the highest bidder, keep the complete records, while awaiting any redemption within a period of one (1) year form date of registration of the certificate of sale with the Register of Deeds concerned, after which, the records shall be archived. Notwithstanding the foregoing provision, juridicial persons whose property is sold pursuant to an extra-judicial foreclosure, shall have the right to redeem the property until, but not after, the registration of the certificate of foreclosure, whichever is earlier, as provided in Section 47 of Republic Act No. 8791 (as amended, Res. Of August 7, 2001).cralaw

      Where the application concerns the extrajudicial foreclosure of mortgages of real estates and/or chattels in different locations covering one indebtedness, only one filing fee corresponding to such indebtedness shall be collected. The collecting Clerk of Court shall, apart from the official receipt of the fees, issue a certificate of payment indicating the amount of indebtedness, the filing fees collected, the mortgages sought to be foreclosed, the real estates and/or chattels mortgaged and their respective locations, which certificate shall serve the purpose of having application docketed with the Clerks of court of the places where the other properties are located and of allowing the extrajudicial foreclosure to proceed thereat.
    3. The notices of auction sale in the extrajudicial foreclosure for publication of the sheriff or by a notary public shall be published in a newspaper of general circulation pursuant to Section 1, Presidential Decree No. 1079, dated January 2, 1977, and non-compliance therewith shall constitute a violation of Section 6 thereof.

    4. The Executive Judge shall, with the assistance of the Clerk of Court, raffle applications for extrajudicial foreclosure of mortgage under the direction of the sheriff among all sheriffs, including those assigned to the Office of the Clerk of Court and Sheriffs IV assigned in the branches.cralaw

    5. The name/s of the bidder/s shall be reported by the sheriff or the notary public who conducted the sale of the Clerk of Court before the issuance of the certificate of sale.cralaw

This Resolution amends or modifies accordingly Administrative Order No. 3 issued by then Chief Justice Enrique M. Fernando on 19 October 1984 and Administrative Circular No. 3-98 issued by the Chief Justice Andres N. Narvasa on 5 February 1998.cralaw

The Court Administrator may issue the necessary guidelines for the effective enforcement of this Resolution.cralaw

The Clerk of Court shall caused the publication of this Resolution in a newspaper of general circulation not later than August 14, 2001 and furnish copies thereof to the Integrated Bar of the Philippines.cralaw

This Resolution shall take effect on the 1st day of September of the year 2001.cralaw

Promulgated this 7th day of August 20001 in the City of Manila.

 

HILARIO G. DAVIDE, JR.
Chief Justice
 
JOSUE N. BELLOSILLO        JOSE A.R. MELO
                         Associate Justice     Associate Justice 
 
 
 
REYNATO S. PUNO              JOSE C. VITUG
                        Associate Justice     Associate Justice 
 
 
 
SANTIAGO M. KAPUNAN           VICENTE V. MENDOZA
                  Associate Justice             Associate Justice
 
 
 
ARTEMIO V. PANGANIBAN             LEONARDO A QUISUMBING
                        Associate Justice           Associate Justice
 


BERNARDO P. PARDO           ARTURO B. BUENA
                     Associate Justice         Associate Justice
 
 
 
MINERVA P. GONZAGA-REYES             CONSUELO YNARES-SANTIAGO
                 Associate Justice                 Associate Justice
 
                    (on leave)
SABINO R. DE LEON, JR.      ANGELINA S. GUTIERREZ
                         Associate Justice            Associate Justice
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