This case has been cited 3 times or more.
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2007-11-23 |
CHICO-NAZARIO, J. |
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| The doctrine is well settled that a levy on execution duly registered takes preference over a prior unregistered sale.[26] A registered lien is entitled to preferential consideration.[27] In Valdevieso v. Damalerio,[28] the Court held that a registered writ of attachment was a superior lien over that on an unregistered deed of sale and explained the reason therefor:This is so because an attachment is a proceeding in rem. It is against the particular property, enforceable against the whole world. The attaching creditor acquires a specific lien on the attached property which nothing can subsequently destroy except the very dissolution of the attachment or levy itself. Such a proceeding, in effect, means that the property attached is an indebted thing and a virtual condemnation of it to pay the owner's debt. The lien continues until the debt is paid, or sale is had under execution issued on the judgment, or until the judgment is satisfied, or the attachment discharged or vacated in some manner provided by law. | |||||
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2000-04-12 |
GONZAGA-REYES, J. |
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| a levy on execution duly registered takes preference over a prior unregistered sale, and even if the prior sale is subsequently registered before the execution sale but after the levy was duly made, the validity of the execution sale should be maintained because it retroacts to the date of the levy; otherwise the preference created by the levy would be meaningless and illusory.[34] | |||||