G.R. No. 236572 - SECURITY BANK CORPORATION, VS. SPOUSES JOSE V. MARTEL AND OLGA S. MARTEL.DECISION - Supreme Court E-Library

Ruling

WHEREFORE , premises considered, judgment is hereby rendered and: The Clerk of Court of the Regional Trial Court of Makati City is hereby ordered to reassess, determine and collect additional fees that should be paid by plaintiffs within fifteen (15) days, provided the applicable prescriptive or reglementary period has not yet expired, and the plaintiffs are given the same period to pay the same; In the event that the plaintiffs wish to pay their outstanding obligation to defendant, the former is ordered to pay the latter Thirty[-]Four Million Six Hundred Forty[-]Five Thousand Nine Hundred Nine Pesos and Forty[-]Four Centavos (PhP34,645, 909.44), at 12% interest per annum from 31 July 2002, until fully paid; [D]eclaring as null and void the auction sale by the City Sheriff of Makati City on 23 October 2002 over the property located at No. 8 Farol St., Urdaneta Village, Makati City; the Certificate of Sale dated 23 October 2002 (Exhibit "G") issued by the Clerk of Court approved by then Executive Judge Leticia P. Morales on 15 November 2002 regarding the foreclosure in the case Security Bank vs. Spouses Jose and Olga Martel, docketed as S-02-086; the Affidavit of Consolidation [dated] 19 November 2003 (Exhibit "1"); and Transfer Certificate of Title No. 219694 in the name of Security Bank Corporation; 4. Ordering the Register of Deeds of Makati City to cancel TCT No. 219694 and to reinstate TCT No. 288267 in the name of Jose Martel married to Olga Severino; and 5. Ordering the City Sheriff of Makati City to conduct a new auction sale strictly complying with the mandatory requirements as required by Act No. 3135, as amended by Act No. 4118. SO ORDERED.