If submitted, the court shall examine said written deposition and the documents on which it is founded, and if it should find that it lacks merit, it shall dismiss it outright by resolution that shall promptly be notified to the creditor and to the debtor or third owner who drafted it.
If the court determines that a valid objection has been presented and it is founded on all or some of the reasons stated in § 2716 of this title, it shall summon the creditor and the debtor or third owner and their respective lawyers to a hearing which must necessarily be held within 10 working days after the presentation of said deposition. In this hearing, it shall admit all the evidence each party wishes to offer and hear all of the parties’ arguments, after which it shall resolve all the objections presented on their merits within five working days after the hearing, decreeing the procedure to be followed or the remedies which, in its judgment, are in order according to the allegations and proof admitted, including correction or curing of those errors or defects which it considers were made and ordering that a new demand for payment be made, if necessary.
The party aggrieved by this decree may only appeal the resolution made by writ of certiorari before the Supreme Court within five working days after notification.
The final decree on said objection shall constitute res judicata among the intervening parties.
History —Mortgage Law, 1979, § 217.