G.R. No. 206780 - DR. RICO VARGAS SUBSTITUTED BY HIS WIFE, CECILIA VARGAS AND CHILDREN, NAMELY: RICHELLE JOSIE JUDY VARGAS-CASTRO, ARVEE T. VARGAS AND CECILIA VARGAS,[*], V. JOSE F. ACSAYAN, JR..

Ruling

WHEREFORE, judgment is hereby rendered in favor of the plaintiff and against all the defendants: 1) Declaring the plaintiff the absolute owner of the property covered by TCT No. T-264567 of the Registry of Deeds of Quezon together with the buildings and improvements existing thereon; 2) Directing defendants-spouses Rico Vargas and Cecilia Vargas and defendants-spouses Maximino Tabangcora and Estela Tabangcora to execute a formal Deed of Absolute Sale in favor of the plaintiff with a purchase price of P5,950,000.00, the remaining balance thereof, after deducting the partial payment of P4,717,293.88 already made, to be paid to defendants Vargas couple upon execution thereof, should there be no other obligations owing to plaintiff, in order that plaintiff can secure his own transfer certificate of title over the said parcel of land covered by TCT No. T-264567; 3) Nullifying the Agreement dated March 1, 1998[,] between the defendants spouses and defendant Stardiamond Int'l Trading, Inc., as well as the Real Estate Mortgage executed in favor of defendant Stardiamond Int'l Trading, Inc. and registered in the Memorandum of Encumbrances on page C of TCT No. T-264567 as they were simulated and fictitious. The Register of Deeds of Quezon is authorized to cancel the annotation of the Agreement (Exh. G) Entry No. 733192-A and Real Estate Mortgage Entry No. 733193; 4) Ordering defendants to deliver and surrender to plaintiff the owner's copy of TCT No. 264567 of the Registry of Deeds for the Province of Quezon with the cancellation of the annotations mentioned in the immediately preceding paragraph, and if they refused to do so, ordering the Register of Deeds to issue another copy and declaring the owner's copy in their possession null and void or without any effect; 5) Ordering the defendants, jointly and severally to pay plaintiff moral damages in the amount of P1 million pesos and exemplary damages in the sum of P500,000.00 pesos; 6) Ordering the defendants, jointly and severally to pay and reimburse plaintiff by way of attorney's fees in the amount of P500,000.00 representing acceptance fees and appearance fees for at least forty-four (44) times after verifying from the records or a total amount of P220,000.00, plus court filing fees in the sum of P138,344.00, P75,000.00 representing expenses in getting attachment surety bond, etc., and costs. SO ORDERED.