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Spouses Omengan vs. PNB

SPS. EDGAR AND DINAH OMENGAN, Petitioners, versus PHILIPPPINE NATIONAL BANK, HENRY M. MONTALVO AND MANUEL S. ACIERTO,* Respondents.

G.R. No. 161319 | 2007-01-23

D E C I S I O N

CORONA, J.

This petition for review on certiorari[1] seeks a review and reversal of the Court of Appeals (CA) decision[2] and resolution[3] in CA-G.R. CV No. 71302.

In October 1996, the Philippine National Bank (PNB) Tabuk (Kalinga) Branch approved petitioners-spouses' application for a revolving credit line of P3 million. The loan was secured by two residential lots in Tabuk, Kalinga-Apayao covered by Transfer Certificate of Title (TCT) Nos. 12954 and 12112. The certificates of title, issued by the Registry of Deeds of the Province of Kalinga-Apayao, were in the name of Edgar[4] Omengan married to Dinah Omengan.

The first...