Cited Laws
Accordingly, on February 25, 1997, the RTC issued a writ of execution. [5] On March 7, 1997, the court sheriff served a "Notice of Levy/Attachment upon Realty" [6] on the Registry of Deeds of Manila. It was only at this time when petitioner learned [7] that there were prior annotations on the same titles, thus: (a) On October 7, 1993, Marual mortgaged his two condominium units to Planters Development Bank. The mortgage was foreclosed and the said units were sold to the bank at a public auction. On March 27, 1996, the certificate of sale was annotated on the two Condominium Certificates of Title. (b) On November 11, 1996, before the expiration of the period for redemption of the foreclosed realties, Marual sold the same units to Asset Recovery and Management Corporation, [8] herein respondent. On February 26, 1997, the deed of sale was registered in the Registry of Deeds of Manila. [9] (c) On March 4, 1997, respondent filed with the RTC, Branch 55, Manila, an action for mandamus to redeem the condominium units against the bank, docketed as Civil Case No. 97-82366. On April 1, 1997, the RTC issued a writ of preliminary injunction [10] enjoining the bank from consolidating in its name the titles or taking possession of the units, or otherwise disposing of them until further orders from the court. After learning of the above circumstances, petitioner filed with the RTC, Branch 4, in the same Civil Case No. 95-74919 for sum of money, a Motion for Possession [11] of the units. On June 8, 1999, the RTC, Branch 4 issued an Order [12] granting the motion and directing the issuance of the writ of possession, as prayed for by petitioner, thus: x x x. Accordingly: (a) plaintiff (now petitioner Cardinal Building Owners Association, Inc.) is allowed to repossess subject condo units for four (4) years to enable it to recover the aforesaid account of defendant (Benjamin Marual) plus reasonable interest thereon, under proper accounting procedure and periodic reports thereon to the Court; (b) plaintiff is allowed to lease, as it may deem necessary, but not to mortgage or sell, said condo units to achieve the foregoing objective; and (c) defendant and/or his agents or assigns are enjoined from interfering in any manner the aforesaid possession by plaintiff until the foregoing objective is achieved. Further, upon the filing of an indemnity bond of P2 million, let a writ of possession issue directing a sheriff of the Regional Trial Court of Manila or his authorized representative to place plaintiff herein in actual, physical possession of the two condominium units located in the Cardinal Office Condominium at 999 Pedro Gil St., Malate, Manila and covered by CCTs No. 14335 (1st floor) and No. 17730 (2nd floor) and to eject therefrom defendant Benjamin Marual and all other persons claiming rights under him. SO ORDERED.