Abalos Vs Darapa
Abalos Vs Darapa
Abalos Vs Darapa
Information | Reference
Loading...
_______________
* FIRST DIVISION.
201
202
203
PEREZ, J.:
The petitioner, Development Bank of the
Philippines (DBP), files the present petition
for review on certiorari via Rule 45 of the
Rules of Court,1 asking us to reverse and
set aside the Court of AppealsÊ decision in
CA-G.R. CV. No. 70693 dated 26 September
20032 which affirmed the decision of the
Regional Trial Court (RTC), Branch 3,
Iligan City.3
Background Facts
_______________
204
_______________
205
_______________
206
_______________
207
Our Ruling
_______________
_______________
209
_______________
210
_______________
25 Records, p. 13.
26 Id., at p. 33.
27 Sec. 60. Mortgage or lease of registered land.·
Mortgages and leases shall be registered in the
manner provided in Section 54 of this Decree. The
owner of the registered land may mortgage or lease it
by executing the deed in a form sufficient in law. Such
deed of mortgage or lease and all instruments which
assign, extend discharge or otherwise deal with the
mortgage or lease shall be registered, and shall take
effect upon the title only from time of registration.
28 Sec. 61. Registration.·Upon presentation for
registration of the deed of mortgage or lease together
with the ownerÊs duplicate, the Register of Deeds
shall enter upon the Original Certificate of title and
also upon the ownerÊs duplicate certificate a
memorandum thereof, the date and time of filing and
the file number assigned to the deed, and shall sign
the said memorandum. He shall also note on
211
_______________
212
_______________
213
_______________
37 Rollo, p. 30.
38 Art. 1410. The action or defense for the
declaration of the inexistence of a contract does not
prescribe.
39 Rollo, p. 58.
214