A.M.
NO. 99-10-05-0[As
further
Amended on August 7, 2001]PROCEDURE
IN EXTRA-JUDICIAL FORECLOSURE OF MORTGAGEEN
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:red
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:red
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:red
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:red
The Court Administrator
may issue the necessary guidelines for the effective enforcement of
this
Resolution.cralaw:red
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:red
This Resolution shall
take effect on the 1st day of September of the year 2001.cralaw:red
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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