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Juan Pulido, Et Al. Vs. Court Of Appeals, Et Al.

SPOUSES JUAN and FILOMENA PULIDO and SPOUSES ALBERTO and NORMA GLORIA, petitioners, vs. COURT OF APPEALS and BIENVENIDO AGAPITO, respondents.

G.R. No. 109244 | 1995-12-29

D E C I S I O N


BELLOSILLO, J.:

Bienvenido Agapito owned a 230-square meter parcel of unregistered residential land in Indang, Cavite, which he mortgaged with the Rural Bank of Cavite City (RBCC) to secure a loan. 1 On 23 May 1973, upon his failure on maturity to pay the loan, the mortgage was foreclosed and sold at public auction to RBCC as the highest bidder. He failed to redeem his property within the one-year reglementary period despite repeated extensions granted him. On 26 July 1980 RBCC through its President-Manager Leonarda G. Alegre sold the property together with its improvements to spouses Juan and Filomena Pulido 2 who on 1...