Article 249
ELI5— what this means for you
In a court-ordered execution sale of a family home, the winning bid must exceed the amount protected under Article 231, and the proceeds first cover that protected amount, then the judgment and costs — anything left over goes to the family that owned the home.
Official text — RA 386
At the sale under execution referred to in the two preceding articles, no bid shall be considered unless it exceeds the amount specified in article 231. The proceeds of the sale shall be applied in the following order:
(1) To the amount mentioned in article 231;
(2) To the judgment and the costs.
The excess, if any, belongs to the person constituting the family home.
Source: lawphil.net (RA 386 as amended)
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