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Sps. Mariano S. Tanglao etc. vs. Sps. Corazon S. P Arungao, et al.

SPOUSES MARIANO S. TANGLAO and CORAZON M. TANGLAO, Petitioners, versus SPOUSES CORAZON S. PARUNGAO and LORENZO G. PARUNGAO (deceased), substituted by LAWRENCE S. PARUNGAO, MARY CHRISTINE PARUNGAO-CURUTCHET, LORDBERT S. PARUNGAO, LODELBERTO S. PARUNGAO and MA. CECILIA PARUNGAO-HERNANDEZ, Respondents.

G.R. No. 166913 | 2007-10-05

D E C I S I O N
 

SANDOVAL-GUTIERREZ, J.:

For our resolution is the instant Petition for Review on Certiorari seeking to reverse the Decision[1] of the Court of Appeals (Fifteenth Division) dated January 31, 2005 in CA-G.R. SP No. 78079.

The facts of the case are:

In 1992, spouses Lorenzo and Corazon Parungao, respondents, purchased from Spring Homes Subdivision (Spring Homes) Lot Nos. 1, 2, 3, and 4 with a total area of 486 square meters (sq. m.) at P1,350.00 per sq. m. or a total price of P656,100.00. In addition, they also bought Lot Nos. 7, 8, and 9 with a total area of 457 sq. m. at P1,550.00 per sq. m. or a total price of...