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Bank of the Philippines Islands (BPI) vs. Evangeline L. Puzon

BANK OF THE PHILIPPINE ISLANDS (Successor-in-interest of Citytrust Banking Corporation), Petitioner, versus EVANGELINE L. PUZON, Respondent

G.R. No. 160046 | 2009-11-27

D E C I S I O N

CARPIO, J.:

The Case

This is a petition for review[1] of the Decision[2] dated 20 December 2002 and the Resolution dated 17 September 2003 of the Court of Appeals in CA-G.R. CV No. 68903.

The Facts

Respondent Evangeline L. Puzon (respondent) was the registered owner of a residential lot (property) covered by Transfer Certificate of Title No. 13517 (TCT No. 13517) and located at Ifugao Street, La Vista, Quezon City. In April 1990, respondent applied for a P4,200,000 loan from the Citytrust Banking Corporation (Citytrust). To secure the loan, respondent executed in favor of Citytrust a First Real Estate Mortgage[3] over the...