G.R. No. 217716 - LIFESTYLE REDEFINED REALTY CORPORATION AND EVELYN S. BARTE, VS. HEIRS OF DENNIS A. UVAS. [G.R. NO. 217857] RIZAL COMMERCIAL BANKING CORPORATION, VS. HEIRS OF DENNIS A. UVAS, LIFESTYLE REDEFINED REALTY CORPORATION AND EVELYN BARTE.DECISION - Supreme Court E-Library

Ruling

WHEREFORE, premises considered, judgment is hereby rendered in favor of [respondent Heirs] and against [RCBC], [Lifestyle Corporation and Evelyn]: Declaring as null and void the foreclosure and auction sale of the subject property covered by [TCT] No. 190706 held on November 24, 2003 as well as the corresponding Certificate of Sale dated December 23, 2003; Declaring the Deed of Absolute Sale entered into between [RCBC] and [Lifestyle RedefinedCorporation/Evelyn] as null and void; Ordering the Register of Deeds of the City of Manila to cancel the annotations of the Sheriffs Certificate of Sale dated December 23, 2004 on [TCT] No. 190706 as null and void and without any legal effect; Ordering the Register of Deeds of the City of Manila to cancel [TCT] No. 276003 as a consequence of the nullity of the Deed of Absolute Sale entered into by the parties and restore the validity of the original [TCT] No. 190706 in the name of [Dennis], married to [Nimfa] as well as the [TCT] No. 269709 in the name of [RCBC] as the foreclosure sale conducted on November 24, 2003 is a complete nullity; Ordering the [RCBC] to restructure the [respondent Heirs'] loan obligation retroactively as though the foreclosure had not taken place in the interest of justice and equity in order to give another chance for the [respondent Heirs] to satisfy their loan obligation without prejudice to the conduct of extra-judicial foreclosure of the proceedings in compliance with the rules in case of failure of [respondent Heirs] to satisfy their loan obligations; Ordering the [RCBC] to return to [Lifestyle Corporation and Evelyn] the amount of TWENTY MILLION FIVE HUNDRED THOUSAND PESOS (Php20,500,000.00) with interest of 12% per annum from time of filing of the instant Complaint on September 6, 2006; Ordering the [RCBC] to pay attorney's fees in the amount of FIFTY THOUSAND PESOS (P50,000.00); Costs against [RCBC] and [Lifestyle Corporation/Evelyn]. SO ORDERED.