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Heirs of the deceased Pedro Avendano, et al. vs. DBP

HEIRS OF THE DECEASED PEDRO AVENDANO, namely, MA. ROSELLE C. AVENDANO, RAINIER C. AVENDANO, ROMMEL C. AVENDANO, JOANNA C. AVENDANO and MA. HANNAH AVENDANO-ARCEO, and the HEIRS OF THE DECEASED MICHAEL C. AVENDNO, represented by ALEXANDER AVENDANO, Petitioners, versus DEVELOPMENT BANK OF THE PHILIPPINES, Respondent.

G.R. No. 155066 | 2006-08-03

SECOND DIVISION

D E C I S I O N 

CORONA, J.: 

In this petition for review on certiorari,[1] the heirs of the deceased Pedro Avendaño (Avendaño)[2] challenge a decision[3] of the Court of Appeals which ruled that their late father was not entitled to the execution of a contract to sell by respondent Development Bank of the Philippines, as well as its subsequent resolution denying reconsideration.[4] 

The antecedent facts follow.[5] 

Avendaño was the assignee of Philippine Apitong Development Corporation's redemption rights over four parcels of land. These were Transfer Certificate of Title (TCT) No. 22336-Quezon City,...