This case has been cited 2 times or more.
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2009-10-23 |
CARPIO MORALES, J. |
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| The question of whether the subject property stands as a continuing security for any outstanding obligations of Lina and her sons to BPI (then FEBTC) should not detain the Court any further. Surrender of the certificate of title will not impair any existing mortgage on the subject property. It is an elementary principle in civil law that a real estate mortgage subsists notwithstanding changes in ownership, and all subsequent purchasers of the property must respect the mortgage.[19] | |||||
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2006-07-12 |
YNARES-SANTIAGO, J. |
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| There is no doubt that the contract of sale in question gave rise to a reciprocal obligation of the parties. Reciprocal obligations are those which arise from the same cause, and which each party is a debtor and a creditor of the other, such that the obligation of one is dependent upon the obligation of the other. They are to be performed simultaneously, so that the performance of one is conditioned upon the simultaneous fulfillment of the other.[9] | |||||