G.R. No. 222503 - JOSE P. JAYAG AND MARILYN P. JAYAG, VS. BDO UNIBANK, INC., EX-OFFICIO SHERIFF, AND/OR ASSIGNED SHERIFF.DECISION - Supreme Court E-Library

Ruling

accordingly a Certificate of Sale was issued in its name on April 25, 2013. The period of redemption was set to expire on July 5, 2014 or one year from the date of registration of the certificate of sale. [6] Meanwhile on March 25, 2013, petitioners filed before the RTC of Makati City, Branch (Br.) 145 a Complaint with Prayer for Issuance of Temporary Restraining Order ( TRO ) and/or Writ of Preliminary Injunction against BDO and the Ex-Officio Sheriff of the Makati City RTC, docketed as Civil Case No. 13-330 . [7] On March 27, 2013, the said court issued an Order [8] denying petitioners' application for a TRO for insufficiency of evidence. In its Resolution [9] dated April 3, 2013, the trial court likewise denied petitioners' application for the issuance of a writ of preliminary injunction. It found that petitioners failed to prove full payment of the loans, nor were they able to establish payment of at least 12% per annum interest on the principal obligation as required by A.M. No. 99-10-05-0. Thereafter, petitioners filed an Amended Complaint [10] for annulment of mortgage and foreclosure sale, and violation of the truth in lending act. In February 2014, BDO sent a Notice to Vacate to petitioners, citing the bank's legal right to obtain immediate physical possession of the foreclosed property during the period of redemption. [11] On June 5, 2014, BDO filed a Petition for Issuance of Writ of Possession before the RTC of Makati City, Br. 146 (LRC Case No. M-5927). On August 18, 2014, RTC Makati City, Br. 145 rendered a Decision [12] in Civil Case No. 13-330 which declared as null and void the extrajudicial foreclosure, as well as the certificate of sale and related documents including the new title issued in favor of the purchaser. BDO was further ordered to reconvey the foreclosed property to the plaintiffs within 10 days after the latter shall have paid in full to BDO the amount of P659,188.38 with corresponding interest and penalty charge. BDO filed a notice of appeal while petitioners filed a notice of partial appeal from the abovementioned decision. Both appeals were consolidated in the CA, docketed as CA-G.R. CV No. 104000. [13] The RTC Ruling On September 2, 2014, RTC Makati City, Br. 146 rendered its Decision granting the petition for issuance of a writ of possession in favor of BDO. [14] A Writ of Possession [15] was thereafter issued on September 18, 2014. Notices to Vacate were, thus, sent by the Sheriff to petitioners on September 29, 2014 and March 7, 2016. [16] Petitioners filed a petition, invoking Section 8 of Act No. 3135 praying that the implementation of the writ of possession be held in abeyance pending the finality of the August 18, 2014 Decision of RTC Makati City, Br. 145 which already declared the extrajudicial foreclosure and the subsequent sale of the subject property as null and void. In its Order [17] dated October 20, 2014, RTC Makati City, Br. 146 denied the petition, stating that the remedy sought by petitioners sh