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Florentino Cruz, Et Al. Vs. Court Of Appeals, Et Al.

FLORENTINO CRUZ AND LINA CRUZ, petitioners, vs. THE HONORABLE COURT OF APPEALS AND GOVERNMENT SERVICE INSURANCE SYSTEM, respondents.

G.R. No. 90369 | 1990-10-31

D E C I S I O N


GANCAYCO, J.:

The enforceability of a deed of sale with assumption of mortgage of property encumbered to the Government Service Insurance System (GSIS), entered into without the previous consent of the latter, is the center of controversy in
this petition.

On May 22, 1970, petitioners bought a parcel of land with an area of approximately 250 square meters from the spouses Oscar and Eva De los Reyes, registered owners thereof, under Transfer Certificate of Title (TCT) No. 135319 issued by the Register of Deeds of Quezon City. At the time of the sale of the property, it was mortgaged to the GSIS for P20,000.00 which...