G.R. No. 195743. January 20, 2014

SECOND DIVISION [ G.R. No. 195743, January 20, 2014 ] SPOUSES VICENTE C. LI AND CARMELITA LI V. BANK OF THE PHILIPPINE ISLANDS.

After a judicious perusal of the records, the Court resolves to DENY the instant petitions and AFFIRM the November 24, 2009 Decision[1] and February 9, 2011 Resolution[2] of the Court of Appeals (CA) in CA-G.R. CV No. 01213-MIN for failure of Spouses Vicente C. Li and Carmelita Li (Vicente and Carmelita) and Marilyn Cuenco-Li and Dr. Joseph Li (Marilyn and Joseph) to sufficiently show that the CA committed any reversible error in directing the issuance of a writ of possession in favor of Bank of the Philippine Islands (respondent).

It is settled that after the consolidation of title in the buyer's name for failure of the mortgagor to redeem the property, entitlement to a writ of possession becomes a matter of right,[3] such possession being founded on the right of ownership,[4] and its issuance may not be stayed by a pending action for annulment of mortgage or the foreclosure itself.[5] Neither can such issuance be enjoined on the basis of the claim of intervenors who are not third parties holding the properties by adverse title or right, such as that of a co-owner, tenant or usufructuary.[6] As the Decision of the trial court nullifying the foreclosure proceedings in this case is pending appeal, and that Marilyn and Joseph are not proper third parties in contemplation of the law but are mere creditors of the mortgagors, Vicente and Carmelita, the writ of possession must perforce be issued in favor of respondent.

SO ORDERED.

[1] Rollo (G.R. No. 195743), pp. 53-76; rollo (G.R. No. 195928), pp. 65-88. Penned by Associate Justice Ruben C. Ayson, with Associate Justices Romulo V. Borja and Edgardo A. Camello, concurring, and Associate Justices Rodrigo F. Lim, Jr. and Elihu A. YbaƱez, dissenting.[2] Rollo (G.R. No.195743), pp. 77-92; rollo (G.R. No. 195928), pp. 90-105. Penned by Associate Justice Edgardo A. Camello, with Associate Justices Romulo V. Borja, Leoncia R. Dimagiba and Angelita A. Gacutan, concurring, and Associate Justice Rodrigo F. Lim, Jr., dissenting.
[3] Tolosa v. United Coconut Planters Bank, G.R. No. 183058, April 3, 2013, 695 SCRA 138, 146, citing Lam v. Metropolitan Bank and Trust Company, G.R. No. 178881, February 18, 2008, 546 SCRA 200, 206.
[4] Bank of the Philippine Islands v. Tarampi, G.R. No. 174988, December 10, 2008, 573 SCRA 537, 543-544. (Citations omitted)
[5] Id. at 544. (Citation omitted)
[6] China Banking Corporation v. Lozada, G.R. No. 164919, July 4, 2008, 557 SCRA 177, 202-203. (Citations omitted)

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