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Good day to everyone. I hope anyone of you can help me.
Our business agent mortgaged his house and lot to us for P1,000,000. This is duly notarized and registered at the register of deeds. In the course of our business dealings, he loaned an additional 1,000,000 through a promissory note that does not mention any collateral. He died without a will. The lawful heirs are forcing me to let them redeem the property for the amount indicated in the mortgage only. How can I collect on the additional loan evidenced only by a promissory note?
Our business agent mortgaged his house and lot to us for P1,000,000. This is duly notarized and registered at the register of deeds. In the course of our business dealings, he loaned an additional 1,000,000 through a promissory note that does not mention any collateral. He died without a will. The lawful heirs are forcing me to let them redeem the property for the amount indicated in the mortgage only. How can I collect on the additional loan evidenced only by a promissory note?
Last edited by george123 on Wed Nov 13, 2013 10:28 am; edited 1 time in total (Reason for editing : typo error)
