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Arnel Sy vs. Court of Appeals

ARNEL SY, petitioner, vs. HONORABLE COURT OF APPEALS, STATE INVESTMENT HOUSE, INC. and THE REGISTER OF DEEDS OF RIZAL, respondents.

G.R. No. 83139 | 1989-04-12

D E C I S I O N


CORTES, J.:

For a resolution of the issues raised in the instant petition involving the amount required to redeem the subject foreclosed property, the Court must first determine what law to apply. Is it Section 30, Rule 39 of the Revised Rules of Court in relation to Act No. 3135 as amended, or Section 78 of Rep. Act No. 337 (General Banking Act) as amended by P.D. No. 1828?

The facts of the case are as follows:

On March 2, 1979, Carlos Coquinco executed in favor of private respondent State Investment House, Inc. (hereinafter referred to as SIHI) a real estate mortgage over a 952 square-meter parcel of land in San...