Page 391 - Important Provisions of The New Civil Code

LEGAL REDEMPTION

Article 1619. Legal redemption is the right to

be subrogated, upon the same terms and

conditions stipulated in the contract, in the

place of one who acquires a thing by purchase

or dation in payment, or by any other

transaction whereby ownership is transmitted

by onerous title. (1521a)

Article 1620. A co-owner of a thing may

exercise the right of redemption in case the

shares of all the other co-owners or of any of

them, are sold to a third person. If the price of

the alienation is grossly excessive, the

redemptioner shall pay only a reasonable one.

Should two or more co-owners desire to

exercise the right of redemption, they may only

do so in proportion to the share they may