Redemption of real property before sale.
Section 50
SEC. 50. Redemption of real property before sale. - After the title to the property shall have become vested in the city government in the manner provided for in sections forty-six and forty-eight hereof, and at any time prior to the sale or contract of sale by the city treasurer to a third party, the original owner or his legal representative or any person having any lien, right, or other legal interest or equity in said property, shall have the right to redeem the entire property in question, by paying the full amount of taxes and penalties due thereon at the trace of the seizure, and if the city treasurer shall have entered into lease of the property, the redemption shall be made subject to said lease: Provided, That the payment of the price of sale may, at the discretion of the purchaser, be made in installments extending over a period not exceeding twelve months, but the initial payment, which must be made on the date of the filing of the application for redemption, and every subsequent payment, shall not be less than twenty-five per centum of the entire-sum due, and shall in no wise be less than two pesos, unless the total or the balance of the amount due on all seized property in the. name of the tax-payer, is less than two pesos. The purchaser may occupy the property after paying the first installment and the usual taxes on the property shall be payable in the year after that in which the application for redemption was approved. Any failure, of the delinquent taxpayer to pay an installment on the date it is due shall have the effect of a forfeiture to the city government of any partial payment made by said taxpayer, and in case be has taken possession of the property, he shall forthwith surrender the same for the city government, in case the purchaser should fail to relinquish possession of said property, the city treasurer or his deputy shall forthwith adopt measures to eject therefrom all the tenants or occupants thereof pursuant to the proceedings prescribed in section forty-eight hereof: Provided, however, That the original owner of any real estate seized prior to the approval of this Act, who redeems the same within six months subsequent to its approval, is hereby released from any obligation he may have, to the Government for rent for the use of such property: Provided, finally, That the provisions of this section shall apply to redemption of real estate seized for delinquency in the payment of taxes thereon and not redeemed up to the date of the approval of this Act.