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2013 Jurisprudence on Trusts

1.) JOSEPH GOYANKO, JR., as administrator of the Estate of Joseph Goyanko,


Sr., vs. UNITED COCONUT PLANTERS BANK, MANGO AVENUE BRANCH
G.R. No. 179096
February 06, 2013

Article 1444 No particular words are required for the creation of an express trust, it
being sufficient that a trust is clearly intended.
The requisites for an express trust are as follows: Basically, these elements include a
competent trustor and trustee, an ascertainable trust res, and sufficiently certain
beneficiaries. xxx each of the above elements is required to be established, and, if any
one of them is missing, it is fatal to the trusts (sic). Furthermore, there must be a
present and complete disposition of the trust property, notwithstanding that the
enjoyment in the beneficiary will take place in the future. It is essential, too, that the
purpose be an active one to prevent trust from being executed into a legal estate or
interest, and one that is not in contravention of some prohibition of statute or rule of
public policy. There must also be some power of administration other than a mere duty
to perform a contract although the contract is for a thirdparty beneficiary. A declaration
of terms is essential, and these must be stated with reasonable certainty in order that
the trustee may administer, and that the court, if called upon so to do, may enforce, the
trust.

2.) GERSIP ASSOCIATION, INC., LETICIA ALMAZAN, ANGELA NARVAEZ, MARIA


B. PINEDA, LETICIA DE MESA AND ALFREDO D. PINEDA vs. GOVERNMENT
INSURANCE SERVICE SYSTEM
G.R. No. 189827
October 16, 2013

Article 1440 A person who establishes a trust is called the trustor; one in whom
confidence is reposed as regards property for the benefit of another person is known as
the trustee; and the person for whose benefit the trust has been created is referred to as
the beneficiary.
Trust is the legal relationship between one person having an equitable ownership in
property and another person owning the legal title to such property, the equitable
ownership of the former entitling him to the performance of certain duties and the
exercise of certain powers by the latter. A trust fund refers to money or property set
aside as a trust for the benefit of another and held by a trustee. Under the Civil Code,
trusts are classified as either express or implied. An express trust is created by the
intention of the trustor or of the parties, while an implied trust comes into being by
operation of law.

3.) AQUILES RIOSA vs. TABACO LA SUERTE CORPORATION


G.R. No. 203786
October 23, 2013

Art. 1441. Trusts are either express or implied. Express trusts are created by the
intention of the trustor or of the parties. Implied trusts come into being by operation of
law.
It cited, as legal basis, Article 1330 of the Civil Code which provides that a contract
where the consent is given thru violence, intimidation, undue influence or fraud is
voidable. Inasmuch as the property was acquired thru fraud, the person who obtained it
by force of law was considered a trustee of an implied trust for the benefit of the person
from whom the property came.

4.) CAROLINA (CARLINA) VDA. DE FIGURACION, HEIRS OF ELENA


FIGURACION-ANCHETA, namely: LEONCIO ANCHETA, JR., and ROMULO
ANCHETA, HEIRS OF HILARIA A. FIGURACION, namely: FELIPA FIGURACION-
MANUEL, MARY FIGURACION-GINEZ, and EMILIA FIGURACION-GERILLA,
AND HEIRS OF QUINTIN FIGURACION
G.R. No. 151334
February 13, 2013

Article 1456. If property is acquired through mistake or fraud, the person obtaining it is
by force of law considered a trustee of an implied trust for the benefit of the person from
whom the property comes.
A trustee who obtains a Torrens title over a property held in trust for him by another
cannot repudiate the trust by relying on the registration. The Torrens system does not
create or vest title. It only confirms and records title already existing and vested. It does
not protect a usurper from the true owner. The Torrens system was not intended to
foment betrayal in the performance of a trust. It does not permit one to enrich himself at
the expense of another. Where one does not have a rightful claim to the property, the
Torrens system of registration can confirm or record nothing. The beneficiaries are
entitled to enforce the trust, notwithstanding the irrevocability of the Torrens title. The
intended trust must be sustained.
5.) BANCO FILIPINO SAVINGS AND MORTGAGE BANK vs. TALA REALTY
SERVICES CORPORATION, PEDRO B. AGUIRRE, REMEDIOS A. DUPASQUIER,
PILAR D. ONGKING, ELIZABETH H. PALMA, DOLLY W. LIM RUBENCITO M. DEL
MUNDO, ADD INTERNATIONAL SERVICES, INCORPORATED, and NANCY L. TY,
G.R. No. 158866
September 9, 2013

Art. 1441. Trusts are either express or implied. Express trusts are created by the
intention of the trustor or of the parties. Implied trusts come into being by operation of
law.
Where the purchase is made in violation of an existing statute and in evasion of its
express provision, no trust can result in favor of the party who is guilty of the fraud.

6.) SPOUSES QUIRINO V. DELA CRUZ and GLORIA DELA CRUZ v Planters
Product Inc.
G.R. No. 158649
February 18, 2013

In all trust receipt transactions, both obligations on the part of the trustee exist in
the alternative the return of the proceeds of the sale or the return or recovery of
the goods, whether raw or processed.

When both parties enter into an agreement knowing that the return of the goods
subject of the trust receipt is not possible even without any fault on the part of the
trustee, it is not a trust receipt transaction penalized under Section 13 of P.D.
115; the only obligation actually agreed upon by the parties would be the return
of the proceeds of the sale transaction. This transaction becomes a mere loan,
where the borrower is obligated to pay the bank the amount spent for the
purchase of the goods.
7.) ANTIPOLO INING (DECEASED), SURVIVED BY MANUEL VILLANUEVA,
TEODORA VILLANUEVA-FRANCISCO, CAMILO
FRANCISCO, ADOLFO FRANCISCO, LUCIMO FRANCISCO, JR., MILAGROS
FRANCISCO,* CELEDONIO FRANCISCO, HERMINIGILDO FRANCISCO; RAMON
TRESVALLES, ROBERTO TAJONERA, NATIVIDAD INING-IBEA (DECEASED)
SURVIVED BY EDILBERTO IBEA, JOSEFA IBEA, MARTHA IBEA, CARMEN IBEA,
AMPARO IBEA- FERNANDEZ, HENRY RUIZ, EUGENIO RUIZ AND PASTOR RUIZ;
DOLORES INING-RIMON (DECEASED) SURVIVED BY JESUS RIMON, CESARIA
RIMON GONZALES AND REMEDIOS RIMON CORDERO; AND PEDRO INING
(DECEASED) SURVIVED BY ELISA TAN INING (WIFE) AND PEDRO INING, JR.,
Petitioners v. LEONARDO R. VEGA, SUBSTITUTED BY LOURDES VEGA,
RESTONILO I. VEGA, CRISPULO M. VEGA, MILBUENA VEGA-RESTITUTO, AND
LENARD VEGA, Respondents.
GR No. 174727
August 12, 2013

Possession by a co-owner will not be presumed to be adverse to the other co-


owners but will be held to benefit all, and that a co-owner or co-heir is in
possession of an inheritance pro-indiviso for himself and in representation of his
co-owners or co-heirs if he administers or takes care of the rest thereof with the
obligation to deliver the same to his co-owners or co-heirs, as is the case of a
depositary, lessee or trustee.

8.) Philippine Deposit Insurance Corporation v Bureau of Internal Revenue


G.R. No. 172892
June 13, 2013

Tax Code of 1997 imposes a general duty on all receivers, trustees in


bankruptcy, and assignees, who operate and preserve the assets of a
corporation, regardless of the circumstances or the law by which they came to
hold their positions, to file the necessary returns on behalf of the corporation
under their care.

9.) Dr. Roger R. Posadas and Dr. Rolando P. Dayco v SandiganBayan and People
of the Philippines
G.R. Nos. 168951 and 169000

A trust fund may be utilized only for the specific purpose for which the trust was
created or the funds received.
Our Constitution stresses that a public office is a public trust and public officers
must at all times be accountable to the people, serve them with utmost
responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and
lead modest lives. These constitutionally enshrined principles, oft-repeated in our
case law, are not mere rhetorical flourishes or idealistic sentiments. They should
be taken as working standards by all in the public service.

trust fund which is defined by Presidential Decree No. 1445 as fund that
officially comes in the possession of an agency of the government or of a public
officer as trustee, agent or administrator, or that is received for the fulfillment of
some obligation.

10.) Hur Tin Yang v People of the Philippnes


G.R. No. 195117
August 14, 2013

The fact that the entruster bank knew even before the execution of the trust
receipt agreements that the construction materials covered were never intended
by the entrustee for resale or for the manufacture of items to be sold is sufficient
to prove that the transaction was a simple loan and not a trust receipts
transaction.

when both parties enter into an agreement knowing fully well that the return of
the goods subject of the trust receipt is not possible even without any fault on the
part of the trustee, it is not a trust receipt transaction penalized under Sec. 13 of
PD 115 in relation to Art. 315, par. 1(b) of the RPC, as the only obligation actually
agreed upon by the parties would be the return of the proceeds of the sale
transaction. This transaction becomes a mere loan, where the borrower is
obligated to pay the bank the amount spent for the purchase of the goods.

Following the precept of the law, such transactions affect situations wherein the
entruster, who owns or holds absolute title or security interests over specified
goods, documents or instruments, releases the subject goods to the possession
of the entrustee. The release of such goods to the entrustee is conditioned upon
his execution and delivery to the entruster of a trust receipt wherein the former
binds himself to hold the specific goods, documents or instruments in trust for the
entruster and to sell or otherwise dispose of the goods, documents or
instruments with the obligation to turn over to the entruster the proceeds to the
extent of the amount owing to the entruster or the goods, documents or
instruments themselves if they are unsold. x x x [T]he entruster is entitled only to
the proceeds derived from the sale of goods released under a trust receipt to the
entrustee.
11.) Ricardo Chu, Jr. and DY Kok Eng vs MELANIA CAPARA.S and SPOUSES
RUEL and HERMENIGILDA PEREZ,
G.R. No. 175428
April 15,2013

We also see no trust, express or implied, created between the petitioners and the
spouses Perez over the subject property. A trust by operation of law is the right to
the beneficial enjoyment of a property whose legal title is vested in another.37 A trust
presumes the existence of a conflict involving one and the same property between two
parties, one having the rightful ownership and the other holding the legal title. There is
no trust created when the property owned by one party is separate and distinct from
that which has been registered in anothers name.

12.) STAR TWO (SPV-AMC), INC., vs PAPER CITY CORPORATION OF THE


PHILIPPINES,
G.R. No. 169211
March 6, 2013

Contrary to the finding of the CA, the Extra-Judicial Foreclosure of Mortgage


includes the machineries and equipments of respondent. While captioned as a Petition
for Extra-Judicial Foreclosure of Real Estate Mortgage Under Act No. 3135 As
Amended, the averments state that the petition is based on x x x the Mortgage Trust
Indenture, the Deed of Amendment to the Mortgage Trust Indenture, the Second
Supplemental Indenture to the Mortgage Trust Indenture, and the Third Supplemental
Indenture to the Mortgage Trust Indenture (hereinafter collectively referred to as the
Indenture) duly notarized and entered as x x x.

13.) GOLD KEYDEVELOPMENT CORPORATION vs INTERNATIONAL EXCHANGE


BANK
G.R. No. 166282
February 13, 2013

Directors or trustees who wilfully and knowingly vote for or assent to patently unlawful
acts of the corporation or who are guilty of gross negligence or bad faith in directing the
affairs of the corporation or acquire any personal or pecuniary interest in conflict with
their duty as such directors or trustees shall be liable jointly and severally for all
damages resulting therefrom suffered by the corporation, its stockholders or members
and other persons. Solidary liability will then attach to the directors, officers or
employees of the corporation in certain circumstances, such as: 1. When directors and
trustees or, in appropriate cases, the officers of a corporation: (a) vote for or assent to
patently unlawful acts of the corporation; (b) act in bad faith or with gross negligence in
directing the corporate affairs; and (c) are guilty of conflict of interest to the prejudice of
the corporation, its stockholders or members, and other persons;

The trustee of a corporation may continue to prosecute a case commenced by the


corporation within three years from its dissolution until rendition of the final judgment,
even if such judgment is rendered beyond the three-year period allowed by Section 122
of the Corporation Code. However, there is nothing in the said cases which allows an
already defunct corporation to initiate a suit after the lapse of the said three-year period.
On the contrary, the factual circumstances in the abovecited cases would show that the
corporations involved therein did not initiate any complaint after the lapse of the three-
year period. In fact, as stated above, the actions were already pending at the time that
they lost their corporate existence.

14.) PHILIPPINE NATIONAL BANK vs HYDRO RESOURCES CONTRACTORS


CORPORATION
G.R. No. 167530
March 13, 2013

As trustee of the Republic of the Philippines, the APT also assumed the responsibility of
the Republic pursuant to the following provision of Section 2.02 of the respective deeds
of transfer executed by DBP and PNB in favor of the Republic:

SECTION 2. TRANSFER OF BANKS LIABILITIES


xxxx
2.02 With respect to the Banks liabilities which are contingent and those liabilities
where the Banks creditors consent to the transfer thereof is not obtained, said liabilities
shall remain in the books of the BANK with the GOVERNMENT funding the payment
thereof.

15.) VITALIANO N. AGUIRRES II and FIDEL N. AGUIRRE vs


FQB+7, INC., NATHANIEL D. BOCOBO, PRISCILA BOCOBO and ANTONIO DE
VILLA
G.R. No. 170770
January 9, 2013

Jurisprudence has even recognized the boards authority to act as trustee for persons in
interest beyond the said three-year period.Thus, the determination of which group is the
bona fide or rightful board of the dissolved corporation will still provide practical relief to
the parties involved.