G.R. No. 200468 - MACARIA ARGUELLES AND THE HEIRS OF THE DECEASED PETRONIO ARGUELLES, VS. MALARAYAT RURAL BANK, INC..D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, premises considered judgment is hereby rendered: 1) declaring the mortgage made by the defendants spouses Eddie Guia and Teresita Guia in favor of defendant Malarayat Rural Bank null and void; 2) setting aside the foreclosure sale had on December 6, 1999 and the corresponding certificate of sale issued by this Court dated May 12, 2000; 3) ordering the Register of Deeds of the Province of Batangas to cancel the annotation pertaining to the memorandum of encumbrances (entries no. 155686 and 155688) appearing in TCT No. T-839[4]4; 4) ordering cross defendants spouses Eddie and Teresita Guia to pay the amount of Php240,000.00 to cross claimant Malarayat Rural [B]ank corresponding to the total amount of the loan obligation, with interest herein modified at 12% per annum computed from default; 5) ordering defendants spouses Eddie and Teresita Guia to pay plaintiffs Arguelles the amount of Php100,000.00 as moral damages. However, the prayer of the plaintiffs to order the registration of the deed of sale in their favor as well as the subsequent issuance of a new title in their names as the registered owners is denied considering that there are other acts that the plaintiffs ought to do which are administrative in nature, and are dependent upon compliance with certain requirements pertaining to land acquisition and transfer. SO ORDERED.