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SPOUSES JAIME SEBASTIAN, et al, PETITIONERS, VS. BPI FAMILY BANK, INC., et al., RESPONDENTS.

SPOUSES JAIME SEBASTIAN AND EVANGELINE SEBASTIAN, PETITIONERS, VS. BPI FAMILY BANK, INC., CARMELITA ITAPO AND BENJAMIN HAO, RESPONDENTS.

G.R. No. 160107 | 2014-10-22

FIRST DIVISION
 
D E C I S I O N

BERSAMIN, J.:

The protection of Republic Act No. 6552 (Realty Instalment Buyer Protection Act) does not cover a loan extended by the employer to enable its employee to finance the purchase of a house and lot. The law protects only a buyer acquiring the property by instalment, not a borrower whose rights are governed by the terms of the loan from the employer.

The Case
 
Under appeal is the decision promulgated on November 21, 2002,1 whereby the Court of Appeals (CA) affirmed the dismissal of the action for injunction filed by the petitioners against the respondents to prevent the foreclosure of the...