G.R. No. 191636 - PRUDENTIAL BANK (NOW BANK OF THE PHILIPPINE ISLANDS), VS. RONALD RAPANOT AND HOUSING & LAND USE REGULATORY BOARD.

Ruling

WHEREFORE, premises considered, judgment is hereby rendered as follows: Declaring the mortgage over the condominium unit No. 2308-B2 covered by Condominium Certificate of Title No. 2383 in favor of respondent Bank as null and void for violation of Section 18 of Presidential Decree No. 957[;] Ordering respondent Bank to cancel the mortgage on the subject condominium unit, and accordingly, release the title thereof to the complainant; Ordering respondents to pay jointly and severally the complainant the following sums: P100,000.00 as moral damages, P100,000.00 as exemplary damages, P50,000.00 as attorney's fees, The costs of litigations (sic), and An administrative fine of TEN THOUSAND PESOS (P10,000.00) payable to this Office fifteen (15) days upon receipt of this decision, for violation of Section 18 in relation to Section 38 of PD 957; Directing the Register of Deeds of Mandaluyong City to cancel the aforesaid mortgage on the title of the subject condominium unit; and Immediate[ly] upon receipt by the complainant of the owner's duplicate Condominium Certificate of Title of Unit 2308-B2, delivery of CCT No. 2383 over Unit 2308-B2 in favor of the complainant free from all liens and encumbrances. SO ORDERED.