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May Bank vs. Spouses Tarrosa

MAYBANK PHILIPPINES, INC. (FORMERLY PNB-REPUBLIC BANK[1]), PETITIONER, VS. SPOUSES OSCAR AND NENITA TARROSA, RESPONDENTS.

G.R. No. 213014 | 2015-10-14

D E C I S I O N
 
PERLAS-BERNABE, J.:
 
Assailed in this petition for review on certiorari[2] are the Decision[3] dated November 29, 2013 and the Resolution[4] dated May 13, 2014 of the Court of Appeals (CA) in CA-G.R. CV No. 02211, which affirmed the Decision[5] dated June 16, 2005 of the Regional Trial Court of Bacolod City, Branch 41 (RTC) in Civil Case No. 98-10451 declaring the extrajudicial foreclosure sale of the property covered by Transfer Certificate of Title (TCT) No. T-5649 as null and void for being barred by prescription.
 
The Facts

On December 15, 1980, respondents-spouses Oscar and Nenita Tarrosa (Sps. Tarrosa)...