THE Cebu City Council has approved the ordinance that established the one-year redemption period for auctioned real properties, a measure that is seen as advantageous to property owners in the city.
The approved ordinance gives the property owners who are delinquent in paying their taxes in the City the chance to get back their properties within the one-year period, said Councilor Jose Daluz III, the author of the legislative measure.
“It has been established in jurisprudence that in cases involving redemption, the law protects the original owner and that it is the policy of the law to aid rather than defeat the owners right, and therefore, redemption should be looked upon with favor,” Daluz said in his ordinance.
Under the approved ordinance, the one-year period will run upon the registration of the certificate of sale or the declaration of forfeiture with the City Register of Deeds, as stated in the Section 1.
The City treasurer is also tasked to register the certificate of sale or declaration of forfeiture of the properties to be auctioned to the City Register of Deeds.
Administrative sanctions will be imposed if the City Treasurer fails to register the properties.
Earlier, Daluz said the City is expected to collect at least P270 million from over 600 properties that were already forfeited.
As of April, records from City Treasurer’s Office (CTO) showed that there are 647 real property units that have been forfeited in favor to the City.
CTO has received several requests from forfeited real property owners to redeem their properties. (RVC)