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Tommy Reyes, et al. vs.Court of Appeals, et al.

TOMMY REYES and ANDREA C. REYES, petitioners, vs. COURT OF APPEALS, NICANOR G. SALAYSAY, as Provincial Sheriff of Rizal, and CONCHITA P. DIONISIO, respondents.

G.R. No. L-52043 | 1981-08-31

D E C I S I O N


AQUINO, J.:

This case is about the foreclosure of a real estate mortgage. On December 15, 1964, the spouses Carlos Ramirez and Emilia G. Ramirez and Teodora P. Geronilla executed in favor of Conchita P. Dionisio a second mortgage over their registered lot (with an area of 461 square meters) and the two-story house and two-door apartment thereon, located at 705 Boni Avenue, Barranca, Mandaluyong, Metro Manila. That mortgage was given as security for a loan of five thousand pesos.

The Government Service Insurance System, as first mortgagee, consented to the mortgage. It was duly registered. An additional loan of P3,600...