This case has been cited 4 times or more.
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2009-07-31 |
NACHURA, J. |
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| In the assailed decision, the Court held that "a corporation engaged in the buying and selling of real estate is expected to exercise a higher standard of care and diligence in ascertaining the status and condition of the property subject of its business transaction." Citing Sunshine Finance and Investment Corporation v. Intermediate Appellate Court,[1] the Court declared that, similar to investment and financing corporations, such corporation "cannot simply rely on an examination of a Torrens certificate to determine what the subject property looks like as its condition is not apparent in the document." | |||||
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2008-07-04 |
NACHURA, J. |
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| Moreover, petitioner is a corporation engaged in the real estate business. A corporation engaged in the buying and selling of real estate is expected to exercise a higher standard of care and diligence in ascertaining the status and condition of the property subject of its business transaction. Similar to investment and financing corporations, it cannot simply rely on an examination of a Torrens certificate to determine what the subject property, looks like as its condition is not apparent in the document.[36] | |||||
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2006-06-30 |
YNARES-SANTIAGO, J. |
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| On the other hand, a mortgagee, particularly a bank or financial institution whose business is impressed with public interest, is expected to exercise more care and prudence than a private individual in its dealings, even those involving registered lands.[12] In Sunshine Finance and Investment Corp. v. Intermediate Appellate Court we presumed that an investment and financing corporation "is experienced in its business. Ascertainment of the status and condition of properties offered to it as security for loans it extends must be a standard and indispensable part of its operations. Surely, it cannot simply rely on an examination of a Torrens certificate to determine what the subject property looks like as its condition is not apparent in the document. The land might be in a depressed area. There might be squatters on it. It might be easily inundated. It might be an interior lot, without convenient access. These and other similar factors determine the value of the property and so should be of practical concern to the (investment and financing corporation)."[13] | |||||
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2003-07-31 |
YNARES-SANTIAGO, J. |
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| In Sunshine Finance and Investment Corp. v. Intermediate Appellate Court,[31] we ruled that when the purchaser or mortgagee is a financing institution, the general rule that a purchaser or mortgagee of land is not required to look further than what appears on the face of the title does not apply. Thus - | |||||