Redemption by owner before the sale of real property.
Section 47
SEC. 47. Redemption by owner before the sale of real property.—After the city government shall have been invested with the title to the property, in the manner provided for in sections forty-three and forty-five 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 besides have the right to redeem the total amount of the property in question, by paying therefor the amount of taxes and penalties due thereon at the time of the seizure, and if the city treasurer shall have entered into a lease of the property, the redemption shall be made subject to said lease: Provided. That the payment of the price of sale, at the discretion of the purchaser, may 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 taxpayer, 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 its due date shall have the effect of forfeiture to the city government of any partial payment made by said taxpayer, and in case he has taken possession of the property, he shall forthwith deliver the same to 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 pursuant to the proceeding prescribed in section forty-one 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 redemptions 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.