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Valentina A. Nunez, et al., vs. GSIS Family Bank, et al. 475 SCRA 305

VALENTINA A. NUNEZ, FELIX A. NUNEZ, FELIXITA A. NUNEZ, LEONILO A. NUNEZ, JR., ELIZA A. NUNEZ, EMMANUEL A. NUNEZ and DIVINA A. NUNEZ as heirs of LEONILO S. NUNEZ,** Petitioners, versus GSIS FAMILY BANK (Formerly COMSAVINGS BANK) and the COURT OF APPEALS, Respondents.

G.R. No. 163988 | 2005-11-17

D E C I S I O N


CARPIO MORALES, J.:

The facts are not disputed:

Petitioners are the heirs of Leonilo S. Nuñez (Leonilo) who, during his lifetime, obtained three loans from the GSIS Family Bank, formerly ComSavings Bank which in turn was formerly known as Royal Savings and Loan Association (the bank). 

The first loan, contracted on April 6, 1976 in the amount of P55,900.00, was secured by a mortgage over a parcel of land covered by TCT NT-139575-A whereon the mortgage was annotated on April 8, 1976.[1]

The second loan, obtained on July 7, 1976 in the amount of P127,000.00, was secured by mortgage of properties covered by TCT Nos....