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What is Equitable Mortgage Ruling in Claravall Case about?

The spouses Claravall obtained multiple loans to finance construction on their property, executing mortgages each time. When they failed to repay one loan, the lender threatened foreclosure. To avoid this, Claravall executed a deed of sale with an option to repurchase. Later, Claravall exercised the option by obtaining another loan from the spouses Ramirez, again executing a deed of sale with an option to repurchase. When Claravall failed to redeem the property in time, they sued Ramirez to compel sale. The

Author

Fses Mandaluyong

Language

EN