your legal problems here

[kisshmet]

This is the law. A debt can be secured with a mortgage on real property owned by the debtor or third person (accommodation mortgagor) so that if the debtor defaults in the payment of his debt, the creditor can foreclose on the mortgage.

The foreclosure includes the sale of property in a public auction with notice to the public of the auction days prior to the auction.

The auction sale ensures that the debtor is given full opportunity to raise a sum of money commensurate to the fair market value of the property so that his debt can be settled in full. For example, with auction, a property that that may be worth 100 pesos may be sold for 120 pesos, enough to settle his debt, say, of 80 pesos. The debtor will then get the balance of 40 pesos.

The law prohibits automatic transfer of ownership of the property to the creditor in settlement of a loan obligation upon default of the debtor.

Thnx for the response

The property of the bebtor paid to settle several properties borrowed from the creditor was already won thru a civil case. The judge ordered the debtor to turn over their last remaining property to the creditor depriving the heirs of the bebtor of the opportunity to inherit the property

Now the heirs of the debtor cant accept this loss & pestering the heirs of the creditor who now owns the property thru a court order with a civil case to get their share of the property

So how do the heirs of the creditor deal with the heirs of the debtor