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Rural Bank of Malasiqui vs. Ceralde

RURAL BANK OF MALASIQUI, INC., PETITIONER, VS. ROMEO M. CERALDE AND EDUARDO M. CERALDE, JR., RESPONDENTS.

G.R. No. 162032 | 2015-11-25

D E C I S I O N
 
BERSAMIN, J.:
 
This appeal resolves the question of which between the parties - on one hand, the petitioner, the rural bank that foreclosed the mortgage constituted on the agricultural lands earlier expropriated under the land reform program of the State, and acquired the lands under mortgage as the highest bidder in the ensuing foreclosure sale; and, on the other, the respondents, the registered owners and mortgagors of the lands in favor of the petitioner - was entitled to the payment of the just compensation for the lands.

In this suit initiated by the respondents to assert their right to the net value of the...