RODOLFO TORRELLA, PLAINTIFF AND APPELLEE, VS. JOSE PEREZ MINGUEZ ET AL., DEFENDANTS. JOSE PEREZ MINGUEZ, APPELLANT.

This is an appeal taken by Jose Perez
Minguez, in his capacity as coheir of the deceased Jose Perez Gallego,
front the order of the Court of First Instance of Sorsogon, whereby he
was granted the period of sixty (60) days within which to repurchase
the property sold at public auction pursuant to a writ of execution
issued in the principal suit for foreclosure of mortgage, upon payment
of the amount of the judgment rendered therein, instead of the purchase
price obtained at the judicial sale, as claimed by the herein
appellant.

The pertinent facts of the case are as follows:

Rodolfo Torrella, the plaintiff-appellee herein, instituted civil
case No. 2722 in the Court of First Instance of Sorsogon to foreclose a
mortgage executed in his favor by the deceased Jose Perez Gallego, then
represented by his attorney in fact Juan B. Alegre, to secure a loan of
P30,000 obtained by the said deceased. The defendants therein were the
appellant Jose Perez Minguez, as judicial administrator of the estate
of the aforesaid mortgagor, and the judicial administratrix of the
estate of the deceased Juan B. Alegre in whose favor a second mortgage
on the same property was constituted to secure another loan in the sum
of P6,000. After due trial judgment was rendered against said judicial
administrator of Jose Perez Gallego, ordering him to pay to the
plaintiff the sum of P39,022.50 plus 10 per cent thereof as attorney’s
fees, within the period of three (3) months. The judgment became final
but the amount thereof remained unpaid, whereupon a writ of execution
was issued ordering the sale at public auction of all the property
covered by the mortgage. At the public auction the property in question
was adjudicated to the plaintiff, as the highest bidder, for the sum of
P13,000. Sometime later the plaintiff-appellee filed a motion for the
confirmation of the sale by the court. The herein appellant, as a
coheir of his father Jose Ferez Gallego, filed his opposition thereto
and requested permission to redeem said property by paying only the
purchase price thereof obtained at the public auction, that is, P13,000
plus the judicial expenses. Acting upon both motions, the court issued
the order hereinbefore mentioned from which the appellant took this
appeal.

Said appellant bases his alleged right entirely on the provisions
of sections 464 and 465 of the Code of Civil Procedure. From the former
it may be inferred that the successor in interest of a judgment debtor
has the right to redeem the property sold, in the manner and upon
payment of the sums of money specified in the latter section.

Without expressly resolving that the sections in question are
applicable to execution sales in consequence of a foreclosure suit, it
is hereby held that the appellant is not entitled to the remedy prayed
for on the ground that he did not offer to pay the interest on the
amount paid by the plaintiff-appellee as purchase price of the property
sold, which interest should be paid pursuant to the provisions of said
section 465, taking for granted that it is applicable to execution
sales in consequence of a foreclosure suit. That the appellant did not
offer to do so is shown by his own motion which is quoted on pages 31,
32 and 33 of the bill of exceptions.

We are likewise of the opinion that the order appealed from cannot
be affirmed on the ground that it grants the appellant a period of
sixty (60) days within which to repurchase the property sold, a remedy
the existence of which in accordance with the law, we doubt very much.

The equitable right of the appellant and his coheirs in this case
consists in paying the full amount of the judgment obtained by the
plaintiff-appellee, which should be so done before the confirmation of
the judicial sale in accordance with the provisions of section 257 of
the Code of Civil Procedure.

Wherefore, the present appeal is hereby dismissed, with the costs of this instance against the appellant. So ordered,

Malcolm, Villa-Real, Hull, and Goddard, JJ., concur.