DISPOSITIVE:

SUBJECTS/DOCTRINES/DIGEST:

WHAT HAPPENED IN THIS CASE?

LABRADOR OBTAINED A LOAN FROM PETITIONER AND SECURED IT BY MORTGAGE OVER SUBJECT PROPERTIES. THEN HE EXECUTED A TRUST AGREEMENT WITH A SCHOOL WHICH CLAIMS THAT LABRADO HOLDS THE PROPERTY IN TRUST FOR THE SCHOOL. BUT PART OF THE LOAN WAS USED BY THE SCHOOL TO PURCHASE THE PROPERTY. LABRADOR DEFAULTED. PETITIONER FORECLOSED AND APPLIED FOR WRIT. THE SCHOOL OPPOSED THE ISSUANCE OF THE WRIT ON THE GROUND THAT IT IS THIRD PARTY WHO POSSESSES THE PROPERTIES AND HAVE INTERESTS OVER THEM ADVERSE TO LABRADOR. SUPREME COURT SAID THE SCHOOL CANNOT BE CONSIDERED AS SUCH THIRD PARTY. THE RTC SHOULD NOT HAVE DENIED THE ISSUANCE OF WRIT ON THE BASIS OF THE ALLEGATIONS OF THE SCHOOL; IT SHOULD HAVE CONDUCTED A HEARING TO DETERMINE WHETHER THERE IS MERIT TO SUCH ALLEGATIONS.

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scd-2023-0022-integrated-credit-and-corporate-services-co.-vs.-novelita-labrador-and-philippians-academy-of-paranaque-city-1Download

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