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Daria Gonzales Vda. De Toledo Vs. Antonio Toledo, et al

DARIA GONZALES VDA. DE TOLEDO, petitioner, vs. ANTONIO TOLEDO, LELITA TOLEDO, MAURO SUMULONG, OLIVA SUMULONG, PILAR TEVES, as President and Manager, RURAL BANK OF CARMEN (CEBU), INC., respondents.

G.R. No. 149465 | 2003-12-08

D E C I S I O N

YNARES-SANTIAGO, J.:

The property under litigation is a residential land with improvements thereon, consisting of 167 square meters, situated in Poblacion, Danao City, and covered by Tax Declaration No. 34951.[1]

On December 26, 1973, petitioner Daria Gonzales Vda. de Toledo executed a Special Power of Attorney authorizing her stepson, Antonio Toledo, to obtain loan from a bank and mortgage the subject property as security therefor.[2] On January 4, 1974, Spouses Antonio and Lelita Toledo obtained a loan from Rural Bank of Carmen (Cebu) Inc. in the amount of P2,467.80 secured by a real estate mortgage constituted on...