Interpretation of the law on redemption

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Dear PAO,
I bought a certain lot from Jose which I have been renting for a long period of time. We signed a deed of absolute sale covering the transaction, but the sale is not yet registered. After two months, Jose revealed to me that the same lot was sold by the local government unit in an auction due to non-payment of real property tax, and Lito emerged as the highest bidder. I was informed that the remedy here is redemption within one year from the sale. Lito claimed that the only party who can redeem the property is Jose and not me. Jose is no longer interested in meddling, so I would like to ask if I can redeem the property or exercise redemption beyond the one year period.
Julio

Dear Julio,
Redemption of property sold in a delinquency auction is governed by Section 261 of the Local Government Code of 1991 (Republic Act 7160):
«Within one (1) year from the date of sale, the owner of the delinquent real property or person having legal interest therein, or his representative, shall have the right to redeem the property upon payment to the local treasurer of the amount of the delinquent tax, including the interest due thereon, and the expenses of sale from the date of delinquency to the date of sale, plus interest of not more than two percent (2%) per month on the purchase price from the date of sale to the date of redemption. Such payment shall invalidate the certificate of sale issued to the purchaser and the owner of the delinquent real property or person having legal interest therein shall be entitled to a certificate of redemption which shall be issued by the local treasurer or his deputy.
»From the date of sale until the expiration of the period of redemption, the delinquent real property shall remain in the possession of the owner or person having legal interest therein who shall be entitled to the income and other fruits thereof.

«The local treasurer or his deputy, upon receipt from the purchaser of the certificate of sale, shall forthwith return to the latter the entire amount paid by him plus interest of not more than two percent (2%)