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Sps. Ester Santiago & Domingo Cristobal, et al. Vs. Aida G. Dizon

SPS. ESTER SANTIAGO & DOMINGO CRISTOBAL, IMELDA SANTIAGO & JHONY TAI AND JOSE SANTIAGO & EVELYN DAMIN AND ELIZABETH SANTIAGO, Petitioners, versus AIDA G. DIZON, Respondent.

G.R. No. 172771 | 2008-01-31

D E C I S I O N


CARPIO MORALES, J.:

Aida G. Dizon (respondent) mortgaged to Monte de Piedad Mortgage and Savings Bank (Monte de Piedad) a 168.6-square meter parcel of land, which was registered in her name under Transfer Certificate of Title No. 132499, including the two-storey apartment (the property) built thereon, to secure a P265,000 loan.

Respondent failed to settle the loan, drawing Monte de Piedad to foreclose the mortgage, consolidate its ownership of the property, and register it in its name. Monte de Piedad nevertheless gave respondent until May 28, 1987 to purchase back the property for P550,000.

On May 28, 1987,...