This case has been cited 3 times or more.
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2011-11-16 |
MENDOZA, J. |
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| [B]anks are cautioned to exercise more care and prudence in dealing even with registered lands, than private individuals, "for their business is one affected with public interest, keeping in trust money belonging to their depositors, which they should guard against loss by not committing any act of negligence which amounts to lack of good faith by which they would be denied the protective mantle of the land registration statute Act 496, extended only to purchasers for value and in good faith, as well as to mortgagees of the same character and description. It is for this reason that banks before approving a loan send representatives to the premises of the land offered as collateral and investigate who are the true owners thereof.[46] | |||||
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2008-11-27 |
CHICO-NAZARIO, J. |
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| After the expiration of the one-year period, a person whose property has been wrongly or erroneously registered in another's name may bring an ordinary action for reconveyance,[43] or if the property has passed into the hands of an innocent purchaser for value, Section 32 of the Property Registration Decree gives petitioners only one other remedy, i.e., to file an action for damages against those responsible for the fraudulent registration. | |||||