G.R. NO. 170785 - REPUBLIC PLANTERS BANK (NOW KNOWN AS MAYBANK PHILIPPINES, INC.) AND PHILMAY PROPERTY, INC., VS. VIVENCIO T. SARMIENTO, JESUSA N. SARMIENTO, JOSE N. SARMIENTO AND ELIZABETH B. SARMIENTO.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, viewed in the light of the foregoing, the plaintiffs having been able to preponderantly prove their case against the defendants, judgment for specific performance is hereby rendered ordering defendant Maybank to execute in favor of the plaintiffs a Deed of Redemption covering the two (2) parcels of land formerly embraced in and covered by Transfer Certificates of Title Nos. 5281 and 145850 of the Register of Deeds of the City of Parañaque together with all the improvements existing thereon free from all liens and encumbrances and once accomplished, to immediately deliver the said document to plaintiffs. Likewise, the Deed of Sale executed by Republic Planters Bank, now Maybank, in favor of Philmay Property, Inc., and thereafter, from Philmay Property, Inc. to Clara Fabra, are hereby revoked and rescinded as well as Certificate of Title No. 139161 registered in the latters name for being null and void. So also, Phimay Property is hereby directed to reimburse Clara Fabra, now represented by Kim Caro, the amount of P4,200,000.00[,] representing the purchase price of the property plus interest thereon at the legal rate computed from the filing of the complaint until fully paid. Defendants are likewise ordered to pay plaintiffs jointly and severally the following, to wit: The amount of P100,000.00 as moral damages; The amount of P50,000.00 as exemplary damages; The amount of P100,000.00 as and by way of attorneys fees; and The cost of suit. The counterclaims of the defendants are DISMISSED. SO ORDERED.