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Carlos R. Tamayo vs. Milagros Huang, et al.

CARLOS R. TAMAYO, Petitioner, vs. MILAGROS HUANG, JOSEFINO HUANG, HUANG SUI SIN, MIGUEL HUANG and IAP TONG HA, Respondents.

G.R. No. 164136 | 2006-01-25


THIRD DIVISION

D E C I S I O N 

CARPIO MORALES, J.: 

On August 14, 1978, respondents Huang Sui Sin, Josefino Huang, Miguel Huang and Milagros Huang, four of five registered owners of four parcels of land located in Barangay Matina, Davao City and covered by Transfer Certificates of Title Nos. T-20694, T-20704, T-20717 and a portion of TCT No. T-20729, executed a contract of "Indenture" with EAP Development Corporation (EAP) under which EAP undertook to manage and develop said parcels of land into a first class subdivision and sell the lots therein in consideration for which EAP would retain 55% percent of the sales proceeds.[1] The...