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3. A is the owner of a building with about 1,000 tenants. He borrowed money from the GSIS using the building as security by way
3. A is the owner of a building with about 1,000 tenants. He borrowed money from the GSIS using the building as security by way of a real estate mortgage. He failed to pay; hence, GSIS foreclosed the mortgage with it as the highest bidder. A failed to redeem it; thus, the sheriff issued a nal sale. GSIS sold the building to XYZ Corporation which was not authorized to engage in any realty business. The tenants association of the building questioned the sale as ultra vires. Will the action prosper? Why
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