Effect If There is Levy Over a Right

What is the effect if there is levy over a right, etc., with respect to third persons?

Answer: The levy on execution shall create a lien in favor of the judgment obligee over the right, title and interest of the judgment obligor in such property at the time of the levy, subject to liens or encumbrances then existing. (Section 12, Civil Procedure in the Philippines, Rule 39 of the Rules of Court)

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