This case has been cited 2 times or more.
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2015-07-08 |
PEREZ, J. |
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| First. The court a quo cannot enjoin Metrobank, at the instance of the Spouses Dulnuan, from taking possession of the subject property simply because the period of redemption has not yet expired. As the highest bidder in the foreclosure sale upon whom a certificate sale was issued by the sheriff, Metrobank has the right to be placed in possession of the subject property even during the redemption period provided that the necessary amount of bond is posted. As elucidated by the Court in Spouses Tolosa v. United Coconut Planters Bank:[19] | |||||
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2013-07-31 |
BRION, J. |
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| In the case of Spouses Montano T. Tolosa and Merlinda Tolosa v. United Coconut Planters Bank,[27] a case closely similar to the present petition, the Court explained that a pending action for annulment of mortgage or foreclosure (where the nullity of the loan documents and mortgage had been alleged) does not stay the issuance of a writ of possession. It reiterated the well-established rule that as a ministerial function of the court, the judge need not look into the validity of the mortgage or the manner of its foreclosure, as these are the questions that should be properly decided by a court of competent jurisdiction in the pending case filed before it. It added that questions on the regularity and the validity of the mortgage and foreclosure cannot be invoked as justification for opposing the issuance of a writ of possession in favor of the new owner. | |||||