10 Lustan v. CA

April 25, 2018 | Author: Marjorie Alvarez | Category: Mortgage Law, Law Of Agency, Guarantee, Government Information, Common Law
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IV 10 LUSTAN v. CA FACTS •

Pet Adoracion Lustan is the registered owner of a parcel



of land in Calinog, Iloilo containing an area of 10.0057 hect hectare ares. s. She She leas leased ed the the prop proper erty ty to pri priat atee resp resp  !icolas Parangan for a ter" of ten #10$ years and an annual rent of P1%. &urin &uring g the period period of lease, lease, Parang Parangan an was regula regularly rly



e'tend e'tending ing loans loans in s"all s"all a"ount a"ountss to petiti petitione onerr to defray her daily e'penses and to finance her daughter(s education. )n *uly +, 170, petitioner e'ecuted a SPA in faor of 



Parangan to secure an agricultural loan fro" priate resp P!- with the aforesaid lot as collateral. )n e/ruary 1, 17+, a second SPA was e'ecuted /y



Lust Lustan an /y irt irtue ue of whic which, h, Para Parang ngan an was was a/le a/le to secure  additional loans, to wit2 the su"s of +%, 3%, 3.4% and +5%. he last three loans were without the %nowle %nowledge dge of herein herein Lustan Lustan and all the procee proceeds ds therefro" were used /y Parangan for his own /enefit. Lustan signed a &eed of Pacto de 6etro Sale in faor of 



Para Parang ngan an whic which h was was supe supers rsed eded ed /y the the &eed &eed of  &efinite Sale dated ay , 17 which Lustan signed upon Parangan(s representation that the sa"e "erely eidences the loans e'tended /y hi" unto the for"er. or fear that her property "ight /e pre8udiced /y the continued /orrowing of Parangan, she de"anded the return of her certificate of title. Instead of co"plying with the re9uest, Parangan asserted his rights oer the  property which allegedly had /eco"e his /y irtue of  the afore"entioned &eed of &efinite Sale. :nder said docu"ent, Lustan coneyed the su/8ect property and all the i"proe"ents thereon unto Parangan a/solutely for and in consideration of 75%. ISSUE ;hether petitioner(s property is lia/le to P!- for  the loans contracted /y Parangan /y irtue of the SPA. SPA. HELD::
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