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Mauricio N. Cachola, Sr. Vs. Court Of Appeals, Et Al.

MAURICIO N. CACHOLA, SR., represented by his Attorney-in-Fact, NILO C. CACHOLA, petitioner, vs. HON. COURT OF APPEALS and SPS. FEDERICO BRIONES and TRINIDAD ENCINAS, respondents.

G.R. No. 97822 | 1992-05-07

D E C I S I O N


GUTIERREZ, JR., J.:

The issue raised in this petition is whether the contract involving the real property in this case, i.e., a house and lot, at No. 10 Langka St., Project 2, Quezon City with an area of 236.30 square meters, is one of sale or an equitable mortgage.

On July 30, 1973, the respondent spouses Federico Briones and Trinidad Encinas, as the registered owners of the above-named property under Transfer Certificate of Title (TCT) No. 72398 mortgaged the same to Benjamin Ocampo as a security for a loan of P15,000.00. For failure of the spouses to pay the loan, Ocampo caused the foreclosure of the real estate...