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PNB vs Office of the President 255 SCRA 5

PHILIPPINE NATIONAL BANK, petitioner, vs. OFFICE OF THE PRESIDENT, HOUSING AND LAND USE REGULATORY BOARD, ALFONSO MAGLAYA, ANGELINA MAGLAYA P. REYES, JORGE C. BERNARDINO, CORAZON DE LEON, VICTORIANO ACAYA, FLORENCIA CULTURA, MARIA CAMPOS, ERNESTO SARMIENTO SANTIAGO TAMONAN, APOLONIA TADIAQUE, SIMEON DE LEON, NATIVIDAD J. CRUZ, NATIVIDAD B. LORESCO, FELICIDAD GARCIA, ANA ANITA TAN, LUCAS SERVILLION, JOSE NARAWAL, represented by their duly authorized Attorney-in-Fact, CORAZON DE LEON AND SPOUSES LEOPOLDO AND CARMEN SEBASTIAN, respondents.

G.R. No. 104528 | 1996-01-18

R E S O L U T I O N 


PANGANIBAN, J.: 

May a buyer of a property at a foreclosure sale dispossess prior purchasers on installment of individual lots therein, or compel them to pay again for the lots which they previously bought from the defaulting mortgagor-subdivision developer, on the theory that P.D. 957, "The Subdivision and Condominium Buyers' Protective Decree", is not applicable to the mortgage contract in question, the same having been executed prior to the enactment of P.D. 957" This is the question confronting the Court in this Petition challenging the Decision dated March 10, 1992 of the Office of the President of the...