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failure to file petition for consolidation of ownership

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Arresto Menor
hello po. good afternoon. A property was extrajudicially foreclosed and sold at a public auction. Our company emerged as the highest bidder. The previous owner failed to redeem the property within the 1 year period, so our company so to say acquired absolute ownership of the property. However, my boss and our company lawyers failed to file a petition for consolidation of ownership. Pwede pa bo ba itong ifile this month? Wla po bang prescriptive period ang pag-file ng petition? Please advise me. Thanx po

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