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Eagle Realty Corporation vs. Republic of the Philippines, et al. (Motion for Reconsideration)

EAGLE REALTY CORPORATION, Petitioner, vs. REPUBLIC OF THE PHILIPPINES Represented by the Administrator of the Land Registration Authority, NATIONAL TREASURER OF THE PHILIPPINES, HEIRS OF CASIANO DE LEON and MARIA SOCORRO DE LEON, Respondents.

G.R. No. 151424 (MR) | 2009-07-31

RESOLUTION


NACHURA, J.:

Petitioner Eagle Realty Corporation seeks the reconsideration of this Court's Decision dated July 4, 2008, which affirmed the Court of Appeals Decision dated January 22, 2001 and Resolution dated January 8, 2002, and upheld the cancellation of petitioner's certificate of title based on a finding that it is not a purchaser in good faith and for value.

In the assailed decision, the Court held that "a corporation engaged in the buying and selling of real estate is expected to exercise a higher standard of care and diligence in ascertaining the status and condition of the property subject of its business...