This case has been cited 4 times or more.
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2015-03-11 |
PERLAS-BERNABE, J. |
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| On Cargill's motion for consolidation,[11] the CTA Division, in a Resolution[12] dated July 10, 2007, ordered the consolidation of CTA Case No. 6714 with CTA Case No. 7262 for having common questions of law and facts.[13] | |||||
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2013-10-16 |
REYES, J. |
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| Nevertheless, the import of the dispositive portion of the CA Decision dated May 7, 2004 is clear. The principal obligation of Raymundo under the judgment is to reconvey the property to Galen; on the other hand, Galen's principal obligation is to pay its mortgage obligation to Raymundo. Performance of Raymundo's obligation to reconvey is upon Galen's payment of its mortgage obligation in the amount of P3,865,000.00 plus legal interest thereon from the date of the filing of the complaint, until fully paid. This is in accord with the nature of the agreement as an equitable mortgage where the real intention of the parties is to charge the real property as security for a debt.[34] It was wrong for the RTC to require Raymundo to show proof of his "willingness" to reconvey the property because as stressed earlier, their agreement was an equitable mortgage and as such, Galen retained ownership of the property.[35] In Montevirgen, et al. v. CA, et al.,[36] the Court was emphatic in stating that "the circumstance that the original transaction was subsequently declared to be an equitable mortgage must mean that the title to the subject land which had been transferred to private respondents actually remained or is transferred back to [the] petitioners herein as owners-mortgagors, conformably to the well-established doctrine that the mortgagee does not become the owner of the mortgaged property because the ownership remains with the mortgagor."[37] Thus, it does not devolve upon Raymundo to determine whether he is willing to reconvey the property or not because it was not his to begin with. If Raymundo refuses to reconvey the property, then the court may direct that the act be done by some other person appointed by it as authorized by Section 10 of Rule 39 of the Rules of Court, to wit: Sec. 10. Execution of judgments for specific act. (a) conveyance, delivery of deeds, or other specific acts; vesting title. If a judgment directs a party to execute a conveyance of land or personal property, or to deliver deeds or other documents, or to perform any other specific act in connection therewith, and the party fails to comply within the time specified, the court may direct the act to be done at the cost of the disobedient party by some other person appointed by the court and the act when so done shall have like effect as if done by the party. If real or personal property is situated within the Philippines, the court in lieu of directing a conveyance thereof may by an order divest the title of any party and vest it in others, which shall have the force and effect of a conveyance executed in due form of law. (Emphasis and underscoring ours) | |||||
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2010-04-19 |
CARPIO, J. |
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| Article 1874 of the Civil Code explicitly requires a written authority before an agent can sell an immovable property. Based on a review of the records, there is absolutely no proof of respondent's written authority to sell the lot to petitioners. In fact, during the pre-trial conference, petitioners admitted that at the time of the negotiation for the sale of the lot, petitioners were of the belief that respondent was the owner of lot.[19] Petitioners only knew that Revelen was the owner of the lot during the hearing of this case. Consequently, the sale of the lot by respondent who did not have a written authority from Revelen is void. A void contract produces no effect either against or in favor of anyone and cannot be ratified.[20] | |||||
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2008-06-27 |
AUSTRIA-MARTINEZ, J. |
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| An equitable mortgage has been defined as one which although lacking in some formality, or form or words, or other requisites demanded by a statute, nevertheless reveals the intention of the parties to charge real property as security for a debt, and contains nothing impossible or contrary to law.[18] The mortgagor retains ownership over the property but subject to foreclosure and sale at public auction upon failure of the mortgagor to pay his obligation.[19] | |||||