This case has been cited 1 times or more.
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2013-10-16 |
REYES, J. |
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| The existence of subsequent encumbrances on the property is also not a sufficient ground to insist on the payment of its fair market value. To begin with, it was Galen which sought the return of the property by filing the civil case. Moreover, as correctly pointed out by Raymundo, whatever transactions Tensorex entered into is subject to the notice of lis pendens which serves as a constructive notice to purchasers or other persons subsequently dealing with the same property.[42] Further, having Raymundo and/or Tensorex keep the property (and later on levy upon the same) and order the payment of its fair market value virtually amounts to a sale, which goes against the RTC and CA's conclusion that the transaction subject of Civil Case No. 18808 is not a sale but an equitable mortgage. It also violates the very public policy that prohibits pactum commissorium.[43] In the early case of Guanzon v. Hon. Argel,[44] which also involves an equitable mortgage, the Court ruled | |||||