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Heirs of Ernesto V. Conahap vs Heirs of Prosperado Regana.

HEIRS OF ERNESTO V. CONAHAP, namely, NERRE D. GANCINO-CONAHAP, FARRAH MAY GANCINO CONAHAP, and MELANIE GANCINO CONAHAP, Petitioners, versus HEIRS OF PROSPERADOR* REGANA, namely, MILAGROS REGA?A and CARLA JOY REGANA, Respondents.

G.R. No. 152021 | 2005-05-17

D E C I S I O N


CALLEJO, SR., J.:

Sometime in August 1983, the spouses Prosperador and Milagros Regaña, who had first returned to the Philippines from Nigeria, agreed to purchase a parcel of land in Davao City. The property, Lot No. 33, was located at Sapphire Street, Block No. 8 (Phase 4), Ecoland Subdivision, Matina, Davao City, and had an area of 331 square meters. It was owned by Ecoland Properties Development Corporation (Ecoland), and the agreed
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* Prosperator in all the pleadings.

price was P56,270.00, with a down payment of P3,000.00 upon the execution of the contract to sell,[1] the balance payable on or before...