G.R. NO. 163712 - METROPOLITAN BANK AND TRUST COMPANY AND ROGELIO T. UY, VS. JOSE B. TAN AND ELIZA GO TAN. D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, premises considered, this Court hereby renders judgment in favor of the plaintiffs spouses Jose B. Tan and Eliza G. Tan and against the defendants, as follows: a) Declaring that, because of the fact that the plaintiff Eliza G. Tan did not give her consent to all the real estate mortgages annotated at the back of her title, TCT No. T-53267, of the Registry of Deeds for Cagayan de Oro, all said mortgages are null and void ab initio; b) Declaring that, because plaintiff Jose B. Tan did not execute the real estate mortgages annotated at the back of his title , TCT No. T-53267 , of the Registry of Deeds for Cagayan de Oro, all said mortgages are null and void ab initio ; c) Declaring the extra-judicial foreclosure proceedings taken by the defendant sheriff , including the sheriff's certificate of sale as null and void ; d) Making permanent the writ of preliminary injunction against the defendant sheriff, and the Office of the Provincial Sheriff of Misamis Oriental enjoining and restraining them, their agents, and representatives from issuing a final certificate of sale in favor of defendant Metrobank covering the parcel of land covered by TCT No. T-53267 ; e) Ordering the removal of the cloud on the title , TCT No. T- 53267 , of the Registry of Deeds for Cagayan de Oro, and the cancellation of all the entries of the real estate mortgages and amendment of mortgages annotated at the back of TCT No. T-53267, of the Registry of Deeds for Cagayan de Oro City; f) Absolving the plaintiffs spouses from financial liability from the null and void real estate mortgages; g) Declaring the principal obligations obtained by Rey John Tan through the annulled real estate mortgages as FULLY PAID by him; h) Ordering defendant Metrobank to pay attorney's fee and expenses of litigation in the amount of P100,000 and the costs. SO ORDERED.