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Dao Heng Bank Inc. Now Banco De Oro Universal Bank Vs. Sps Lilia & Reynaldo Laigo

DAO HENG BANK, INC., now BANCO DE ORO UNIVERSAL BANK, Petitioner, versus SPS. LILIA and REYNALDO LAIGO, Respondents.

G.R. No. 173856 | 2008-11-20

D E C I S I O N


CARPIO MORALES, J.

The Spouses Lilia and Reynaldo Laigo (respondents) obtained loans from Dao Heng Bank, Inc. (Dao Heng) in the total amount of P11 Million, to secure the payment of which they forged on October 28, 1996, November 18, 1996 and April 18, 1997 three Real Estate Mortgages covering two parcels of land registered in the name of respondent "Lilia D. Laigo, . . . married to Reynaldo Laigo," one containing 569 square meters and the other containing 537 square meters.

The mortgages were duly registered in the Registry of Deeds of Quezon City.

The loans were payable within 12 months from the execution of the...