G.R. No. 239088 - SPOUSES JOHN T. SY AND LENY N. SY, AND VALENTINO T. SY, VS. MA. LOURDES DE VERA-­NAVARRO AND BENJAEMY HO TAN LANDHOLDINGS, INC., HEREIN REPRESENTED BY GRACE T. MOLINA, IN HER CAPACITY AS CORPORATE SECRETARY.DECISION - Supreme Court E-Library

Ruling

WHEREFORE , all the foregoing premises considered, judgment is hereby rendered in favor of the plaintiffs as against the defendants, in the following manner: Declaring the Deed of Absolute Sale dated February 6, 2007 between the plaintiff John T. Sy and defendant Ma. Lourdes De Vera-Navarro as an equitable mortgage and not a document of sale; Directing the plaintiffs to pay defendant Navarro the sum of P5,000,000.00 representing their unpaid loan to said defendant within 30 days from the date the herein judgment becomes final and executory with 6% interest per annum compounded until full payment is made to be reckoned from February 6, 2007, otherwise, the ownership of the property covered under TCT No. T-199,288 shall be vested finally on the defendant Navarro for all intents and purposes; Directing the Register of Deeds for the City of Zamboanga, upon full payment of the sum of P5,000,000.00 plus interest by plaintiffs to defendant Navarro as above directed, to cancel TCT No. T-199,288 in the name of defendant Ma. Lourdes De Vera-Navarro and to restore TCT No. T-171-105 in the names of the plaintiffs; Declaring the Deed of Absolute Sale dated March 30, 2011 executed by defendant Navarro in favor of defendant Benjaemy Ho Tan Landholdings, Inc., as null and void and directing the Register of Deeds of the City of Zamboanga to cause the immediate cancellation of the resulting title thereof in the name of defendant Benjaemy under TCT No. T-129-2011001530; Ordering defendant Ma. Lourdes De Vera-Navarro to return to defendant Benjaemy the purchase price of P13,000,000.00 plus the sum of P1,800,000.00 in reimbursements for the expenses of the transfer of the title in the name of said defendant; Ordering defendant Navarro to pay plaintiffs the sum of P50,000.00 representing moral damages; P50,000.00 in exemplary damages; P20,000.00 in attorney's fees plus P2,000.00 per appearance of plaintiffs counsels in court; and, P30,000.00 in litigation expenses; Ordering defendants to jointly and severally pay the costs of this suit. SO ORDERED.