Procedure in Extra-Judicial Foreclosure of Mortgage
OCA Circular No. 20-04, issued on February 10, 2004, provides guidance on the procedure for extra-judicial foreclosure of mortgages in the Philippines. It clarifies that cooperatives, thrift banks, and rural banks are not exempt from paying filing fees related to such foreclosures, as these actions do not fall under the exemptions outlined in Article 62 (6) of R.A. 6938. The circular amends a previous resolution to reinforce this requirement, ensuring compliance among all concerned parties. The directive aims to standardize the enforcement of fees for extra-judicial foreclosure processes.
Law Information
- Reference Number
- OCA Circular No. 20-04
- Date Enacted
- Category
- Supreme Court Issuances
- Subcategory
- Office of the Court Administrator Circulars
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 10, 2004
OCA CIRCULAR NO. 20-04
| TO | : | All Executive Judges and Clerks of Court of the Regional Trial Courts |
| SUBJECT | : | Procedure in Extra-Judicial Foreclosure of Mortgage |
For the information and guidance of all concerned, quoted hereunder is the pertinent portion of the Court En Banc resolution dated 20 January 2004 in Administrative Matter No. 99-10-05-0 Re: Procedure in Extra-Judicial Foreclosure of Mortgage, to wit:
"A.M. No. 99-10-05-0 Re: Procedure in Extra-Judicial Foreclosure of Mortgages. — The Court resolved upon recommendation of the Office of the Court Administrator, to DECLARE that cooperatives shall remain not exempt from the payment of filing fees for actions filed in court relative to extra-judicial foreclosure of mortgages, because the said actions are not among those contemplated under the provision of Article 62 (6), R.A. 6938.
Accordingly, the last paragraph of Section 2 (c) of the resolution in A.M. No. 99-10-05-0 is hereby AMENDED to read as follows:
Cooperatives, thrift banks and rural banks are not exempt from the payment of filing fees and other fees under the guidelines (A.M. No. 99-0-280-RTC, September 29, 1998 and A.M. No. 99-3-93-RTC, April 20, 1999.) "
For strict compliance. cDCaHA
(SGD.) JOSE P. PEREZActing Court Administrator
Cite This Law
Procedure in Extra-Judicial Foreclosure of Mortgage, OCA Circular No. 20-04, Feb 10, 2004 (Philippines)
Procedure in Extra-Judicial Foreclosure of Mortgage, OCA Circular No. 20-04 (Phil. 2004)
Related Laws
- Procedure in Extra-Judicial Foreclosure of MortgageSupreme Court Circular No. 1-00 • Jan 3, 2000 • Supreme Court Issuances
- Procedure in Extra-Judicial Foreclosure of MortgageSupreme Court Administrative Order No. 3-84 • Oct 19, 1984 • Supreme Court Issuances
- Procedure in Extra-Judicial Foreclosure of Mortgage<--!08072001-->A.M. No. 99-10-05-0 • Aug 7, 2001 • Supreme Court Issuances
- Procedure in Extra-Judicial Foreclosure of MortgageOCA Circular No. 1-00 • Jan 3, 2000 • Supreme Court Issuances
- Procedure in Extra-Judicial Foreclosure of Mortgage<--!01302001-->A.M. No. 99-10-05-0 • Jan 30, 2001 • Supreme Court Issuances
- Procedure in the Extra-Judicial Foreclosure of Mortgages<--!02262002-->A.M. No. 99-10-05-0 • Feb 26, 2002 • Supreme Court Issuances
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