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Spouses Basilio and Norma Hilaga Vs. Rural Bank of Isulan, etc

SPOUSES BASILIO and NORMA HILAGA, Petitioners, versus RURAL BANK OF ISULAN (Cotabato, Inc., as represented by its Manager), Respondent

G.R. No. 179781 | 2010-04-07

DECISION


VILLARAMA, JR., J.:

Petitioners appeal from the Decision[1] dated May 25, 2007 and Resolution[2] dated August 6, 2007 of the Court of Appeals (CA) in C.A.-G.R. CV No. 81979 which had reversed the August 8, 2003 Judgment[3] of the Regional Trial Court of Surallah, South Cotabato, Branch 26 in Civil Case No. 666-N for "Redemption of Foreclosed Mortgaged Property Under [Act No.] 3135." The appellate court held that petitioners' right to redeem the foreclosed property from the respondent bank had expired.

The following facts are established:

Petitioners Basilio and Norma B. Hilaga were the owners of a parcel of land, identified...