Sale of real state-Conditions.
Section 52
SEC. 52. Sale of real state-Conditions.- At any time during the sale or prior to the same, the taxpayer may stay the proceedings by paying the taxes and penalties to the city treasurer or his deputy. Otherwise the sale shall proceed and shall be held either at the main entrance of the city hall or on the premises of the real estate to be sold, as the city treasurer or his deputy may determine. The payment of the sale price may, at the option of the purchaser, be made in installments covering a period not exceeding twelve months, but the initial payment shall be made at the time of the sale, and each subsequent payment shall not be less than twenty-five per centum of the total sale price, and shall in no case be less than two pesos, unless the total or the balance of the amount due be 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 following that in which the sale took place. Any failure of the purchaser to pay the total price of the sale within twelve months from the date thereof, shall be sufficient ground for its cancellation, and any part payment made shall revert to the city government; and if the purchaser has taken possession of the property, he shall forthwith surrender the same to the city government. In case the purchaser should fail to relinquish possession of the property, the city treasurer or his deputy shall immediately take steps to eject the tenants or occupants of the property, in accordance with the procedure prescribed in section fifty-eight of this Act.