G.R. No. 228490 - HEIRS OF ELIAS SOLANO & GLECERIA FALABI SOLANO, VS. PASCUAL T. DY.

Ruling

WHEREFORE , in view of all the foregoing, judgment is hereby rendered as follows: 1. DECLARING the Deed of Sale with Right to Repurchase dated December, 1999 and the Deed of Absolute Sale dated April 6, 2000 between the parties as equitable mortgages ; 2. DECLARING the plaintiffs entitled to redeem the mortgaged properties which shall be effected upon payment of their mortgaged debt to defendants in the total amount of Two Hundred Fifty Thousand Pesos ([PHP] 250,000.00) , including the admitted accrued interest in the amount of Fifty Thousand Pesos ([PHP] 50,000.00) plus legal rate of interest thereof from the time the judgment herein becomes final and executory; 3. ORDERING the defendants to return to plaintiffs the certificates of title of the subject properties upon full payment of the mortgaged debt inclusive of legal interest due by the plaintiffs; 4. ORDERING the defendants to pay plaintiffs the amount of Thirty Thousand Pesos ([PHP] 30,000.00) representing attorney's fees; and 5. ORDERING the defendants to pay the plaintiffs the amount of Two Thousand Nine Hundred Forty-three Pesos and Fifty Centavos ([PHP] 2,943.50) representing litigation expenses, as well as to pay the costs. SO ORDERED.