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  • PS Bank Vs

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    56 vues3 pages
    1) The spouses Tabligan owned a duplex apartment built by private respondent Candido Ramos, who was owed money for construction. 2) The spouses took out loans from petitioner Philippine Savings Bank, secured by mortgages on the property, to complete construction. 3) The spouses defaulted on the loans. The bank foreclosed on the mortgages, became the highest bidder at auction, and obtained title under TCT No. 101864. 4) Private respondent filed a case against the spouses and attached the property, but the bank's title under the registration system has priority over private respondent's claim.

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    PS bank vs

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    1) The spouses Tabligan owned a duplex apartment built by private respondent Candido Ramos, who was owed money for construction. 2) The spouses took out loans from petitioner Philippine Savings Bank, secured by mortgages on the property, to complete construction. 3) The spouses defaulted on the loans. The bank foreclosed on the mortgages, became the highest bidder at auction, and obtained title under TCT No. 101864. 4) Private respondent filed a case against the spouses and attached the property, but the bank's title under the registration system has priority over private respondent's claim.

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    56 vues3 pages

    PS Bank Vs

    Transféré par

    analyn
    1) The spouses Tabligan owned a duplex apartment built by private respondent Candido Ramos, who was owed money for construction. 2) The spouses took out loans from petitioner Philippine Savings Bank, secured by mortgages on the property, to complete construction. 3) The spouses defaulted on the loans. The bank foreclosed on the mortgages, became the highest bidder at auction, and obtained title under TCT No. 101864. 4) Private respondent filed a case against the spouses and attached the property, but the bank's title under the registration system has priority over private respondent's claim.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme DOCX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 3

    PS bank vs.

    Lantin
    Facts:
    Involvedinthiscaseisaduplexapartmenthouseonalotcovered
    byTCTNo.86195situatedatSanDiegoStreet,Sampaloc,Manila,
    andownedbythespousesFilomenoandSocorroTabligan.

    Theduplexapartmenthousewasbuiltforthespousesbyprivate
    respondentCandidoRamos,adulylicensedarchitectandbuilding
    contractor,atatotalcostofP32,927.00.Thespousespaidprivate
    respondentthesumofP7,139.00only.Hence,thelatterusedhis
    ownmoney,P25,788.50inall,tofinishtheconstructionofthe
    duplexapartment. chanrobl es.com:cralaw:red

    Meanwhile,onDecember16,1966,February1,1967,and
    February28,1967,thespousesTabliganobtainedfrompetitioner
    PhilippineSavingsBankthree(3)loansinthetotalamountof
    P35,000.00,thepurposeofwhichwastocompletetheconstruction
    oftheduplexapartment.Tosecurepaymentofthel2oans,the
    spousesexecutedinfavorofthepetitionerthree(3)promissory
    notesandthree(3)deedsofrealestatemortgagesovertheproperty
    subjectmatterofthislitigation.

    OnDecember19,1966,thepetitionerregisteredtheDecember16,
    1966deedofrealestatemortgagewiththeRegisterofDeedsof
    Manila.ThesubsequentmortgagesofFebruary1,1967,and
    February28,1967,wereregisteredwiththeRegisterofDeedsof
    ManilaonFebruary2,1967andMarch1,1967,respectively.At
    thetimeoftheregistrationofthesemortgages,TransferCertificate
    ofTitleNo.86195wasfreefromallliensandencumbrances.

    Thespousesfailedtopaytheirmonthlyamortizations.Asaresult
    thereof,thepetitionerbankforeclosedthemortgages,andatthe
    publicauctionheldonJuly23,1969,wasthehighestbidder.
    OnAugust5,1969,thepetitionerbankregisteredthecertificateof
    saleissuedinitsfavor.OnAugust9,1970,thebankconsolidated
    itsownershipoverthepropertyinquestion,andTransfer
    CertificateofTitleNo.101864wasissuedbytheRegisterof
    DeedsofManilainthenameofthepetitionerbank.

    Upontheotherhand,theprivaterespondentfiledanactionagainst
    thespousestocollecttheunpaidcostoftheconstructionofthe
    duplexapartmentbeforetheCourtofFirstInstanceofManila,
    BranchI,whichcasewasdocketedthereinasCivilCaseNo.
    69228.Duringitspendency,theprivaterespondentsucceededin
    obtainingtheissuanceofawritofpreliminaryattachment,and
    pursuantthereto,hadthepropertyinquestionattached.
    Consequently,anoticeofadverseclaimwasannotatedattheback
    ofTransferCertificateofTitleNo.86195.

    OnAugust26,1968,adecisionwasrenderedinCivilCaseNo.
    69228infavoroftheprivaterespondentandagainstthespouses.A
    writofexecutionwasaccordinglyissuedbutwasreturned
    unsatisfied.

    Asthespousesdidnothaveanypropertiestosatisfythejudgment
    inCivilCaseNo.69228,theprivaterespondentaddressedaletter
    tothepetitionerforthedeliverytohim(privaterespondent)ofhis
    proratashareinthevalueoftheduplexapartmentinaccordance
    withArticle2242oftheCivilCode.Thepetitionerrefusedtopay
    theproratavaluepromptingtheprivaterespondenttofilethe
    instantaction.Asearlierstated,adecisionwasrenderedinfavorof
    theprivateRespondent. chanrobl esvirtual lawlibrary

    Issue:whetherornottheprivaterespondentisentitledtoclaima
    proratashareinthevalueofthepropertyinquestion
    Ruling:
    No

    Sincetheactionfiledbytheprivaterespondentisnotonewhich
    canbeconsideredas"equivalentgeneralliquidation"havingthe
    sameimportasaninsolvencyorsettlementofthedecedentsestate
    proceeding,thewellestablishedprinciplemustbeappliedthata
    purchaseringoodfaithandforvaluetakesregisteredlandfree
    fromliensandencumbrancesotherthanstatutoryliensandthose
    recordedintheCertificateofTitle.Itisanadmittedfactthatatthe
    timethedeedsofrealestatemortgageinfavorofthepetitioner
    bankwereconstituted,thetransfercertificateoftitleofthespouses
    Tabliganwasfreefromanyrecordedlienandencumbrances,so
    thattheonlyregisteredliensinthetitleweredeedsinfavorofthe
    petitioner.

    Prescindingfromtheforegoing,theprivaterespondentsclaim
    mustremainsubordinatetothepetitionerbankstitleoverthe
    propertyevidencedbyTCTNo.101864.

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