G.R. No. 193804 - SPOUSES NILO RAMOS AND ELIADORA RAMOS, VS. RAUL OBISPO AND FAR EAST BANK AND TRUST COMPANY.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, premises considered, judgment is hereby rendered in favor of the plaintiffs and against defendants Raul J. Obispo and Far East Banking Trust Company (now Bank of the Philippine Islands) as follows: a) Declaring the real estate mortgage in favor of defendant Far East Bank & Trust Company (now Bank of Philippine Islands) null and void; b) Ordering defendant FEBTC (now BPI) to cancel the encumbrance on Transfer Certificate of Title No. RT-64422 [369370] and release and surrender the Owners Duplicate copy thereof to the herein plaintiffs; c) Ordering defendants Obispo and FEBTC (BPI) to pay the plaintiffs jointly and severally the sum of P200,000.00 as and by way of moral damages; d) Ordering defendants Obispo and FEBTC (BPI) to pay the plaintiffs, jointly and severally the sum of P50,000.00 as and by way of attorneys fees, and the cost of suit. The cross-claim set forth by defendant FEBTC (BPI) against its co-defendant Obispo is hereby ordered dismissed for lack of merit. SO ORDERED.