G.R. No. 201881 - SPOUSES FLAVIO P. BAUTISTA AND ZENAIDA L. BAUTISTA, VS. PREMIERE DEVELOPMENT BANK, SUBSTITUTED BY SECURITY BANK SAVINGS CORPORATION, AND ATTY. PACITA ARAOS,* SENIOR ASSISTANT VICE PRESIDENT AND ACTING HEAD OF LEGAL AND COLLECTION GROUP.R E S O L U T I O N - Supreme Court E-Library

Ruling

WHEREFORE, the Court PARTIALLY GRANTS the petition for review on certiorari ; and MODIFIES the decision promulgated on January 27, 2012 by: (1) DECLARING NULL AND VOID: (a) the foreclosure sale held on February 18[,] 2002 of the property located in Rodriguez, Montalban, Rizal to Premiere Development Bank; and (b) the issuance of Transfer Certificate of Title No. 452198 of the Register of Deeds of Marikina City issued in the name of Premiere Bank; (2) DIRECTING the Register of Deeds of Marikina City TO CANCEL Transfer Certificate of Title No. 452198 issued in the name of Premiere Development Bank; and TO REINSTATE Transfer Certificate of Title No. 150668 issued in the name of petitioners Spouses Flavio P. Bautista and Zenaida L. Bautista; and (3) ORDERING the respondents to comply with the requirements of posting and publication of the extrajudicial foreclosure sale of the petitioners' property. No pronouncement on costs of suit. SO ORDERED.