G.R. No. 123817 - IBAAN RURAL BANK INC., VS. THE COURT OF

Ruling

WHEREFORE, in view of the foregoing, the Court renders judgment in favor of the plaintiffs and against the defendants, to wit: (a) Ordering the defendant Ibaan Rural Bank Inc., and Provincial Sheriff of Batangas for the redemption of the foreclosed properties covered by Transfer Certificate of Title Nos. T-33206, T-33207 and T-33208 of the Registry of Deeds, Lipa City by the plaintiffs by paying the mortgaged obligation. (b) Ordering the Provincial Sheriff of Batangas to cancel the Transfer Certificate of Titles issued to defendant Ibaan Rural Bank, Inc. and its successors-in-interest and to issue the corresponding Transfer of Certificate of Titles to plaintiffs upon payment of the required legal fees. (c) Ordering the defendant Ibaan Rural Bank, Inc., to pay plaintiffs moral damages in the amount of P200,000.00, and attorney's fees in the sum of P20,000.00. All other claims not having been duly proved are ordered DISMISSED. Without pronouncement as to costs. SO ORDERED". [2] On appeal, the Court of Appeals affirmed with modification the decision of the lower court. The dispositive portion of the CA decision reads: "WHEREFORE, the decision appealed from is hereby AFFIRMED with the following modifications: 1. The register of Deeds of Lipa City is hereby ordered to cancel the Certificate of Titles issued to defendant Ibaan Rural Bank, Inc. and its successor-in-interest and to issue the corresponding Transfer Certificate of Title to plaintiffs-appellees upon proper redemption of the properties and payment of the required legal fees. 2. Defendant Ibaan Rural bank, is hereby ordered to pay to plaintiffs the amount of P15,000.00 as attorney's fees. 3. The moral damages awarded in favor of plaintiffs is hereby ordered deleted. SO ORDERED.