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PNB vs RBLEI

PHILIPPINE NATIONAL BANK, Petitioner, versus RBL ENTERPRISES, INC.; RAMON B. LACSON SR.; and Spouses EDWARDO and HERMINIA LEDESMA, Respondents.

G.R. No. 149569 | 2004-05-28

DECISION


PANGANIBAN, J.:



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aving released fifty percent of the loan proceeds on the basis of the signed loan and mortgage contracts, petitioner can no longer require the borrowers to secure the lessor's conformity to the Mortgage Contract as a condition precedent to the release of

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* On official leave.

** Working Chairman.



the loan balance. The conformity of the lessor was not necessary to protect the bank's interest, because respondents were unquestionably the absolute owners of the mortgaged property. Furthermore, the registration of the mortgage created a real right to the properties which, in subsequent...