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Question 5
5. A, B, and C are co-owners of a three-hectare agricultural land with a fair market
value of PHP 9 million or PHP 3 million per hectare. A offered to sell his share to B
and C for a total amount of PHP 10 million. B and C declined the offer and asked A
to reduce the purchase price to PHP 3 million, the prevailing fair market value of the
land per hectare. A refused and instead sold his one-hectare share to X for PHP 10
million. May B and C go to court for the reduction of the purchase price so they
can exercise their right of legal redemption? Reason(s).
2
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