This case has been cited 1 times or more.
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2014-08-13 |
PERLAS-BERNABE, J. |
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| Separately, on Krystle Realty's claim that it is a buyer in good faith, the Court finds that the latter cannot veer away from the admission of its representative, Mr. William Cu, i.e., that he was aware of Domingo's interest in the subject lot, and that Caridad had no title in her name at the time of the sale, thus, giving rise to the conclusion that it (Krystle Realty) had been reasonably apprised of the ownership controversy over the subject lot. This notwithstanding, records show that Krystle Realty proceeded with the transaction without further examining the seller's title and thus, could not claim to have purchased the subject lot in good faith. Verily, one is considered a buyer in bad faith not only when he purchases real estate with knowledge of a defect or lack of title in his seller but also when he has knowledge of facts which should have alerted him to conduct further inquiry or investigation,[41] as Krystle Realty in this case. Further, the irregularities attending the issuance of TCT Nos. 40467, 40468, and 40469 as pointed out by the CA are equally indicative of lack of good faith on Krystle Realty's part. Indeed, what it failed to realize is that, as one asserting the status of a buyer in good faith and for value, it had the burden of proving such status, which goes beyond a mere invocation of the ordinary presumption of good faith.[42] | |||||