CA 459 Section 29

Section 29

SEC. 29. In case of sale for any cause, after deducting all costs of expenses of any kind for collection, sale, or delivery, the Agricultural and Industrial Bank may apply the residue of the proceeds of the sale so made, to pay one or more or any of the said liabilities to the said Bank, as its General Manager shall deem proper, whether then due or not. granting proper rebate for interest on liabilities not then due. If the proceeds of the sale do not cover the full amount of the loan, together with the interest and other charges thereon, the Agricultural and Industrial Bank may proceed against the debtor for the difference, but any amount exceeding the full indebtedness to the Bank shall be delivered to the debtor. EXTRAJUDICIAL FORECLOSURE OF REAL ESTATE MORTGAGE

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Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationCA 459 Section 29 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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