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[G.R. No. 141070.
TANNY DEXTER T. JARLIGO, PETITIONER, v. PHILIP T. CALDERON AND MARILYN L. CALDERON, RESPONDENTS
Third Division
Sirs/Mesdames:
Quoted hereunder, for your information is a resolution of the
Third Division of this Court dated
G.R. No. 141070 (Tanny Dexter T. Jarligo, Petitioner, v. Philip T. Calderon and Marilyn L. Calderon, Respondents.)
This petition for review
[1]
cralaw
assails the
WHEREFORE, judgment is hereby rendered in favor of the plaintiff-spouses Philip T. Calderon and Marilyn L. Calderon and against the defendant Tanny Dexter T. Jarligo as follows:
(1)�� DECLARING the transaction entered into by plaintiffs and defendant as an equitable mortgage;
(2)�� ALLOWING plaintiffs to redeem the two parcels of land herein involved upon payment to defendant of THIRTY FOUR THOUSAND TWO HUNDRED (P34,200.00) PESOS with the legal rate of interest from the date of this decision until redeemed;
(3)�� ANNULLING the Deed of
Sale Under Pacto de Retro dated
(4)�� After redemption by plaintiffs, TCT No. T-4809 and TCT No. T-8330 both in the name of the plaintiff Philip T. Calderon is [sic] ordered reinstated with all force and effect as though it [sic] had not been cancelled;
(5)�� Ordering defendant to pay plaintiffs P5,000.00 as and by way of Attorney's fees and another P5,000.00 as litigation expenses and to pay the costs.
SO ORDERED. [4] cralaw
On
However, on
Petitioner concedes that the pacto de
retro sale of
Petitioner contends that the deed of absolute sale of
The Court is not convinced. The Court finds no reason to disturb the findings of the appellate and trial courts. The Court sustains the following conclusion of the Court of Appeals, absent any showing of reversible error.
That the transaction entered into by the parties was indeed one of loan with equitable mortgage for the amount of P18,000.00 as principal with 10% monthly interest amounting to P10,800 for six (6) months and P5,400.00 for the three (3) months extension which, when added to the principal of P18,000.00, total P34,200.00 the purported "purchase price" of the lots, is indubitably shown by the computation of such principal and interests at the back of Exh. "C" which was written and signed by appellant himself. The same being a declaration against his own interest must be given full weight and credence.
x x x x
In the case at bench, plaintiffs-appellees never relinquished possession of the property after the purported sale. The price of P34,200 is clearly inadequate when compared to P357,000.00 which is the approximate value of the two parcels of land prevailing in 1989. The first parcel of land which is a 280 square meter residential lot is valued at P250 per square meter, hence amounting to P70,000.00. The second parcel of land is a 2,873 sq. meter agricultural land valued at P100.00 per square meter, hence amounting to P287,300.00. Finally, plaintiffs were granted an extension of three (3) months within which to redeem the property.
It has been consistently held that the presence of even one of the circumstances enumerated in Art. 1602 of the Civil Code is sufficient to declare a contract of sale with right to repurchase an equitable mortgage. This is so because pacto de retro sales with the stringent and onerous effects that accompany them are not favored. In case of doubt, a contract purporting to be a sale with right to repurchase shall be construed as an equitable mortgage. [5] cralaw
WHEREFORE, the Court AFFIRMS the Decision of the Court of
Appeals dated
SO ORDERED.
Very truly yours,
(Sgd.) LUCITA ABJELINA-SORIANO
Clerk of Court
Endnotes:
[1] cralaw Under Rule 45 of the Rules of Court.
[2] cralaw Penned by Associate Justice Portia Ali�o-Hormachuelos, with Associate Justices Buenaventura J. Guerrero and Remedios A. Salazar-Fernando, concurring.
[3] cralaw Penned by Judge Evangeline S. Yuipco.
[4] cralaw Rollo , pp. 38-39.
[5] cralaw Id. at 25-27. Citations omitted.
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