G.R. No. 164104 - PHILIPPINE NATIONAL BANK, VS. GREGORIO B. MARAYA, JR. AND WENEFRIDA MARAYA.D E C I S I O N - Supreme Court E-Library

Ruling

WHEREFORE, [the spouses Maraya's] prayers are heard by the Court which are: (a) declaring the nullity and setting aside the extrajudicial foreclosure sale and the corresponding certificate issued by the sheriff, being null and void; (b) declaring the Deed of Absolute Sale by defendant [PNB] to defendant Jesus Cerro as null and void; (c) removing any cloud from being cast upon the title or ownership of [the spouses Maraya] on the land and building in litigation and declaring [the spouses Maraya] as true and lawful owners and possessors of the said properties; (d) ordering the Ex-Officio Provincial Sheriff of the Court to conduct properly the extrajudicial foreclosure proceedings of the property of [the Spouses Maraya] this time complete with the requirements of posting, affidavit and notice, and publication as required by substantive law, Act 3135 whose compliance for being in derogation of property rights must be strictly and mandatorily enforced; (e) ordering defendants to proportionately pay the costs. For insufficiency of evidence and lacking in merit, both defendants' Counterclaims are DISMISSED. SO ORDERED.