WRIT OF POSSESSION

After the redemption period, the buyer in a foreclosure sale becomes the absolute owner of the property purchased if it is not redeemed.  As such, he is entitled to the possession of the property and can demand it at any time following the consolidation of ownership in his name and the issuance to him of a new transfer certificate of title.

However, the buyer can in fact demand possession of the land even during the redemption period except that he has to post a bond in accordance with Section 7 of Act No. 3135, As Amended. No such bond is required after the redemption period if the property is not redeemed. Possession of the land then becomes an absolute right of the purchaser as confirmed owner. Upon proper application and proof of title, the issuance of the writ of possession becomes a ministerial duty of the Court. (Edralin v. Philippine Veterans Bank, G.R. No. 168523, March 9, 2011, 645 SCRA 75, 85-86).

Exceptions to the rule that the issuance of a writ of possession is a ministerial function of the court:

1) Gross inadequacy of purchase price;

2) Third party claiming right adverse to debtor/mortgagor; and

3) Failure to pay the surplus proceeds of the sale to mortgagor. 

(Nagtalon v. United Coconut Planters Bank, G.R. No 172504, 31 July 2013,).

Requisites for filing Petition for Writ of Possession

ü  Petition for Writ of Possession (see sample Petition for Writ of Possession)

ü  Real Estate Mortgage Agreement

ü  Certificate of Sale

ü  Affidavit of Consolidation of Ownership

ü  New Transfer Certificate of Title in the name of the Mortgagee

ü  Demand letter to turn-over possession of the subject property to the Mortgagee

References:

1.      Section 7, Act 3135, as Amended by Act 4118

2.      G.R. No. 168523, March 9, 2011

3.      G.R. No 172504, 31 July 2013