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Paras vs. Court of Appeals 91 Phil 389

MARIANO M. PARAS, SR., petitioner, vs. COURT OF APPEALS, LAZARO LEODONES and DEMETRIO LEODONES, respondents.

G.R. No. L-4091 | 1952-05-28

D E C I S I O N

MONTEMAYOR, J.:

Respondent Lazaro Leodones was originally the owner of lot No. 2817 of the Peñaranda Cadastre No. 226, with an area of about seventeen hectares acquired by him by virtue of Homestead Patent No. 32378, covered by Original Certificate of Title No. 2443 of the Register of Deeds of Nueva Ecija. It was assessed for tax purposes in the sum of P3,283.68.

On July 31, 1935, Lazaro mortgaged the homestead in favor of the Philippine National Bank, Cabanatuan Branch, to secure the payment of a loan in the sum of P650.00. Failing to pay said loan, the Bank instituted extrajudicial foreclosure proceedings under the...