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Ganzon, Rodolfo T. , et al. Vs. Sancho Y. Inserto, et al.

RODOLFO T. GANZON and GREGORIO L. LIRA, in his capacity as Ex-Oficio Provincial Sheriff of Iloilo, petitioners, vs. THE HONORABLE SANCHO Y. INSERTO, Presiding Judge, Branch I of the Court of First Instance of Iloilo, RANDOLPH C. TAJANLANGIT and ESTEBAN C. TAJANLANGIT, respondents.

G.R. No. L-56450 | 1983-07-25

D E C I S I O N


GUTIERREZ, JR., J.:

May the respondent court order that a mortgage on real property be substituted by a surety bond and direct the Register of Deeds to cancel the mortgage lien annotated on the Torrens Title since the surety bond already secures the obligation earlier secured by the cancelled mortgage?

The petitioner comes to us stating that the lower court acted with grave abuse of discretion and in excess of its jurisdiction in so ruling.

On August 28, 1979, petitioner Rodolfo Ganzon initiated proceedings to extra-judicially foreclose a real estate mortgage executed by the private respondents in his favor. The Deed...