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SPOUSES EMILIANO L. JALBAY, SR. AND MAMERTA C. JALBAY, PETITIONERS, VS. PHILIPPINE NATIONAL BANK, RESPONDENT.

SPOUSES EMILIANO L. JALBAY, SR. AND MAMERTA C. JALBAY, PETITIONERS, VS. PHILIPPINE NATIONAL BANK, RESPONDENT.

G.R. No. 177803 | 2015-08-03

THIRD DIVISION
 
D E C I S I O N
 
PERALTA, J.:
 
This is a Petition for Review under Rule 45 of the Rules of Court which petitioners spouses Emiliano L. Jalbay, Sr. and Mamerta C. Jalbay (the Spouses Jalbay) filed, seeking the reversal of the Court of Appeals (CA) Decision[1]dated November 29, 2006 and its Resolution[2] dated April 27, 2007 in CA-G.R. CV No. 80896.  The CA reversed the Decision[3] of the Regional Trial Court (RTC) of Quezon City, Branch 100, which declared the real estate mortgage in favor of respondent Philippine National Bank (PNB) null and void.

The facts of the case are as follows:

The subject...