G.R. No. 137739 - ROBERTO B. TAN, VS. PHILIPPINE BANKING CORP., HELEN LEONTOVICH VDA. DE AGUINALDO AND REGISTRAR OF DEEDS OF MARIKINA.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, judgment is hereby rendered as follows: (1) The Notice of Sheriff's Sale dated February 10, 1989, Certificate of Sale dated March 10, 1989, Affidavit of Consolidation executed by the defendant bank, and the deed of sale dated February 1, 1995 executed by the bank in favor of the Terraces Realty & Development Corporation are hereby declared null and void and of no legal force and effect; (2) The Register of Deeds of Marikina, Metro Manila is hereby ordered to cancel Transfer Certificates of Title No. 194096 and 194098 in the name of the bank and Transfer Certificate of Title No. 275504 in the name of Terraces Realty & Development Corporation, and to issue, in lieu thereof, new titles in the name of the plaintiff or her successor-in-interest upon proof by the latter of the payment to be made by them to the bank or by similar proof that such amount is deposited by the plaintiff in trust for the bank. The plaintiff shall pay to the bank or deposit the amount in trust for the bank within fifteen (15) days from receipt of a copy of this decision the amounts as follows: (a) on the promissory note for P176,623.24 - The amount of P176,623.24 plus the stipulated 12% interest per annum from January 24, 1985 until March 10, 1989; and 12% interest per annum on said amount of P176,623.24 from March 11, 1989 until fully paid. (b) on the promissory note for P380,000.00 - The amount of P380,000.00 plus 14% interest per annum from January 24, 1985 until March 10, 1989; and 12% interest per annum on said amount of P380,000.00 from March 11, 1989 until fully paid; and (c) on the promissory note of P31,000.00 - The amount of P31,000.00 14% interest per annum from January 24, 1985 until March 10, 1989; and 12% interest per annum of said amount of P31,000.00 from March 11, 1989 until fully paid. (3) The claim of plaintiff for damages and attorney's fees is hereby denied. No pronouncement as to costs. [2] Respondent bank filed a motion for reconsideration of the said decision. Pending resolution thereof, respondent bank moved for the inhibition of the presiding judge. The motion for inhibition was granted, thus, the case was re-raffled to Branch 72. The presiding judge thereof subsequently denied respondent bank's motion for reconsideration. Respondent bank then filed a notice of appeal but the same was denied on the ground that it (respondent bank) already waived its right to appeal pursuant to the joint stipulation. The decision was declared final and executory. On 6 October 1995, the Clerk of Court of Branch 72 issued a certification that the decision had become final. Upon presentation of the trial court's decision and certification, the Register of Deeds of Marikina canceled respondent bank's TCT No. 194096 and 194098 and Terraces Realty & Development Corporation's TCT No. 275504 and issued new titles in lieu thereof, all in the name of respondent Aguinaldo. She subsequently sold the lot covered by one of these titles to petitioner who was then issued TC