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Carolina Ramirez, et al vs Hon CA, Judge Bigornia Jr & Sps Claravall

Carolina P. Ramirez, Ferdinand P. Ramirez, Francis P. Ramirez, Frederic P. Ramirez, and the Intestate Estate of Francisco Ramirez, Jr., petitioners, vs. Hon. Court of Appeals, Hon. Juan A. Bigornia, Jr., in his capacity as Presiding Judge of the Regional Trial Court of Ilagan, Isabela, Branch 18 and Spouses Loreto Claravall and Victoria H. Claravall, respondents.

G.R. No. 133841 | 2003-08-15

D E C I S I O N

CARPIO-MORALES, J.:

It appears that on December 29, 1965, private respondents spouses Loreto Claravall and Victoria Claravall executed a deed of sale in favor of the spouses Francisco Ramirez, Jr. and Carolina Ramirez covering a parcel of land, including improvements thereon, situated in Ilagan, Isabela. On even date, another instrument was executed granting the spouses Claravall an option to repurchase the property within a period of two years from December 29, 1965 but not earlier nor later than the month of December, 1967.[1]

At the expiration of the two-year period, the Claravalls failed to redeem the property,...