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Sps. Pedro And Paz Surtida vs. Rural Bank of Malinao (Albay), Inc.

SPOUSES PEDRO AND PAZ SURTIDA, Petitioners, versus RURAL BANK OF MALINAO:(ALBAY), INC., Respondent.

G.R. No. 170563 | 2006-12-20

FIRST DIVISION
 
D E C I S I O N 
 
CALLEJO, SR., J.: 
 
This is a Petition for Review on Certiorari of the Decision[1] of the Court of Appeals (CA) in CA-G.R. CV No. 52591 and its Resolution[2] denying the motion for reconsideration thereon. The assailed decision reversed and set aside the Decision[3] of the Regional Trial Court (RTC) of Legazpi City, Branch 7. 
 
Antecedents 
 
On June 16, 1986, the spouses Pedro and Paz Surtida executed a real estate mortgage over their 1,750 square meters residential land, located in Sto. Domingo, Albay, in favor of the Rural Bank of Malinao (Albay), Inc. (Rural...