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Sps Lorbes vs CA, Reyes & Cruz

SPOUSES OCTAVIO and EPIFANIA LORBES, petitioners, vs. COURT OF APPEALS, RICARDO DELOS REYES and JOSEFINA CRUZ, respondents.

G.R. No. 139884 | 2001-02-15

D E C I S I O N

GONZAGA-REYES, J.:

This petition for review on certiorari arose from an action for reformation of instrument and damages originally filed with the Regional Trial Court of Antipolo, Rizal, Branch 74, the decision on which was reviewed and reversed by the Third Division of the Court of Appeals.

Petitioners were the registered owners of a 225-square meter parcel of land located in Antipolo, Rizal covered by Transfer Certificate of Title No. 165009. Sometime in August 1991, petitioners mortgaged this property to Florencio and Nestor Carlos in the amount of P150,000.00.

About a year later, the mortgage obligation had...