Extrajudicial foreclosures b Sale of properties at a public auction c Issuance

Extrajudicial foreclosures b sale of properties at a

This preview shows page 19 - 20 out of 37 pages.

Extrajudicial foreclosures b. Sale of properties at a public auction c. Issuance of titles under Rural Bank’s name 6. CA – reversed, thus this present action a. CA admitted the testimony of a person named Pedro Agustin, an employee of the bank, and the witness who testified for Rural Bank. i. Testified that he was verbally notified by the Sheriff ISSUE: WON Rural Bank complied with the requirements for notice, posting and publication (RA 3135, Sec. 3) YES 1. Sec. 3 - Notice shall be given by posting notices of the sale for not less than twenty days in at least three public places of the municipality or city where the property is situated, and if such property is worth more than four hundred pesos, such notice shall also be published once a week for at least three consecutive weeks in a newspaper of general circulation in the municipality or city 2. Petitioner’s contention: a. Admitting the testimony of Pedro Agustin is wrong since he didn’t have any personal knowledge of the actual postings of the notice of sale, thus, it could be hearsay which has no probative value unless it can be shown that it falls within the exceptions b. Rural Bank failed to submit the certificate of posting and failed to present to the court the Sheriff who did the postings c. Agustin testified that he was merely notified by the Shiff that the notice of sale was posted i. Bank said that Sheriff then wasn’t available anymore and the records aren’t available anymore since it had been too long already 3. SC holds that, non-presentation of a certificate of posting doesn’t affect the intrinsic validity of the foreclosure sale. “A certificate of posting is not required much less considered indispensable, for the validity of the foreclosure sale” 4. Moreover, a mortgagor who alleges the absence of a requested has the burden of proving such allegation, which SC held Cristobals weren’t able to do. a. Foreclosure proceedings have in their favor the presumption of regularity and the burden of evidence to rebut it is on the person alleging the irregularity. b. Presumption of regularity – basis for presuming that official duty has been regularly performed by the sheriff, 5. Cristobals claim that CA erred when it held that publication in Mabuhay papers was substantial compliance a. Records do show that the Sheriff’s notice of sale was published in Mabugay newspaper generally circulated in Bulacan b. Evidence: affidavits of publication, newspaper clipping containing the notice of sale published 6 times, Once a week, 3 consecutive weeks substantial compliance 6. Publication of the notice of sale in a newspaper of general circulation alone is more than sufficient compliance with the notice- posting requirements of the law. Metrobank v Peñafiel 1. Spouse Peñafiel mortgaged 2 parcels of land (in Mandaluyong) in favor of Metrobank as security for their loan. The mortgage deed was amended multiple times to reflect the increase in the amount of loan 2. Spouses defaulted, thus Metrobank instituted a foreclosure proceeding through a notary public.
Image of page 19

Subscribe to view the full document.

Image of page 20
  • Spring '16

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes