This case has been cited 4 times or more.
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2016-01-11 |
BERSAMIN, J. |
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| The petitioners have theorized that their transaction with the respondents was a valid dacion en pago by highlighting that it was Linda who had offered to sell her property upon her default. Their theory cannot stand scrutiny. Dacion en pago is in the nature of a sale because property is alienated in favor of the creditor in satisfaction of a debt in money.[11] For a valid dacion en pago to transpire, however, the attendance of the following elements must be established, namely: (a) the existence of a money obligation; (b) the alienation to the creditor of a property by the debtor with the consent of the former; and (c) the satisfaction of the money obligation of the debtor.[12] To have a valid dacion en pago, therefore, the alienation of the property must fully extinguish the debt. Yet, the debt of the respondents subsisted despite the transfer of the property in favor of Adelaida. | |||||
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2014-11-12 |
VELASCO JR., J. |
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| This Court had held that a purported contract of sale where the vendor remains in physical possession of the land, as lessee or otherwise, is an indicium of an equitable mortgage.[15] In Rockville v. Sps. Culla,[16] We explained that the reason for this rule lies in the legal reality that in a contract of sale, the legal title to the property is immediately transferred to the vendee. Thus, retention by the vendor of the possession of the property is inconsistent with the vendee's acquisition of ownership under a true sale. It discloses, in the alleged vendee, a lack of interest in the property that belies the truthfulness of the sale. | |||||
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2012-06-18 |
BRION, J. |
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| Lomises questions the nature of the agreement between him and Johnny, insisting that it was a contract of loan, not an assignment of leasehold rights and sale of improvements. In other words, what existed was an equitable mortgage, as contemplated in Article 1602, in relation with Article 1604, of the Civil Code. "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, there being no impossibility nor anything contrary to law in this intent.'"[11] Article 1602 of the Civil Code lists down the circumstances that may indicate that a contract is an equitable mortgage: Art. 1602. The contract shall be presumed to be an equitable mortgage, in any of the following cases: | |||||
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2010-08-25 |
BRION, J. |
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| Jurisprudence has defined an equitable mortgage "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, there being no impossibility nor anything contrary to law in this intent." [46] | |||||