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Foreign banks can hold foreclosed property for only 5 years, SC rules

one year ago Philippines inquirer

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MANILA, Philippines — Foreign banks may not own land, but may — subject to limitations — possess mortgaged properties, the Supreme Court said in a recent ruling. In a decision written by Associate Justice Jhosep Lopez, the high court’s Second Division reiterated that under the Republic Act No. 10641, the law allowing full entry of Read more at: inquirer

Tags : foreign banks foreclosed property years rules

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