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Lee Chuy Realty Corporation Vs. Court Of Appeals, Et Al.

LEE CHUY REALTY CORPORATION, petitioner, vs. HON. COURT OF APPEALS and MARC REALTY AND DEVELOPMENT CORPORATION, respondents.

G.R. No. 104114 | 1995-12-04

D E C I S I O N


BELLOSILLO, J.:

Is a judicial action to redeem coupled with consignation of the price within the redemption period equivalent to a formal offer to redeem under Art. 1623 in relation to Art. 1620 of the Civil Code? Corollarily, is a formal offer to redeem accompanied with tender of payment a condition precedent to the filing of an action for the valid exercise of the right of legal redemption? Plainly stated, is the filing of the action with consignation equivalent to a formal offer to redeem?

A valuable piece of land in Malhacan, Meycauayan, Bulacan, with an area of 24,576 square meters and covered by OCT No. 0-5290 is...