This case has been cited 3 times or more.
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2007-11-23 |
CHICO-NAZARIO, J. |
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| The doctrine is well settled that a levy on execution duly registered takes preference over a prior unregistered sale.[26] A registered lien is entitled to preferential consideration.[27] In Valdevieso v. Damalerio,[28] the Court held that a registered writ of attachment was a superior lien over that on an unregistered deed of sale and explained the reason therefor:This is so because an attachment is a proceeding in rem. It is against the particular property, enforceable against the whole world. The attaching creditor acquires a specific lien on the attached property which nothing can subsequently destroy except the very dissolution of the attachment or levy itself. Such a proceeding, in effect, means that the property attached is an indebted thing and a virtual condemnation of it to pay the owner's debt. The lien continues until the debt is paid, or sale is had under execution issued on the judgment, or until the judgment is satisfied, or the attachment discharged or vacated in some manner provided by law. | |||||
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2001-10-17 |
QUISUMBING, J. |
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| In contrast, the levy on execution was not only recorded with the Register of Deeds, it was also annotated on the certificates of title as early as 1976. Settled in this jurisdiction is the doctrine that a prior registration of a lien creates a preference.[8] Even subsequent registration of the prior sale will not diminish this preference, which retroacts to the date of the levy.[9] As pointed out in Defensor v. Brillo, 98 Phil. 427 (1956), to hold otherwise would render the preference nugatory and meaningless. Lastly, the attachment or levy of property of a judgment debtor creates a lien, which nothing can subsequently destroy except the very dissolution of the attachment or levy itself.[10] Inasmuch as the petitioner's deeds of pacto de retro sale over the subject parcels were unregistered, the rights of the petitioner over them became subordinate and subject to the duly recorded and annotated attachment and levy. | |||||