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De Barretto v Villanueva Rosario Cruzado obtained a loan from Rehabilitation Finance Corporation (RFC). To secure payment she mort!a!ed the land o"ned by her and her deceased husband. • # $s she failed to pay certain certain installments on on the loan the the mort!a!e "as foreclosed and the RFC ac%uired the property. # &ater on the land "as sold bac' to her conditionally for the amount of * +,-./ payable in seven years. # Cruzado "ith the consent of RFC sold to respondent ura &. Villanueva for -. 0all their ri!hts interest1 title and dominion and over the land. Respondent paid 22 in advance and e3ecuted a promissory note for the balance. • # 4he "as subse%uently able to secure in her name TCT coverin! the property and she mort!a!ed it to petitioner 5a!dalena C. Barretto as security for a loan the amount of /.. # 6avin! failed to pay the remainin! installments on the promissory note a “ Vendor ’ s lien”(unre!istered) "as constituted upon the property in favor of the Cruzados said lien bein! annotated at the bac' of TCT. # 4he li'e"ise failed to pay her indebtedness of / . to petitioner the latter instituted a!ainst the Villanueva spouses an action for foreclosure of mort!a!e. # The lo"er court the vendor1s lien of Cruzado and the mort!a!e credit of petitioner Barretto should be •
paid pro paid pro rata from the proceeds. # Barettos sou!ht reconsideration of the order of the court !ivin! due course to the said vendor1s lien ar!uin! that7 8The vendor1s lien under the 9e" Civil Code of the hilippines can only become effective in the event of insolvency of the vendee "hich has not been proved to e3ist in the instant case ” . :;9 vendor ’ s lien can only become effective in the event of insolvency of vendee. # <=4. (4ee -,+ Rulin!) 1961 CASE (in case c ase Sir Si r will wil l ask) ask ) # 9;. # 9othin! in the la" sho"s that the articles of the Civil Code on concurrence and preference of credits particularly ++*+ and ++*- are applicable only to the insolvent debtor. # >f they are intended only for i nsolvency cases then other creditor?debtor relationships "here there are concurrence of credits "ould be left "ithout any rules to !overn them and it "ould render purposeless the special la"s on insolvency. # $rticle ++*+ of the ne" Civil Civil Code enumerates enumerates t he claims mort!a!e and liens that constitute an encumbrance on specific immovable property and amon! them are7 # (+) For the unpaid price of real property sold upon the immovable sold@ and # (2) 5ort!a!e credits recorded in the Re!istry of roperty. ” $rticle ++*++*- of the same Code provides that 0if there are t"o or more credits "ith respect to the same specific real property or real ri!hts they shall be satisfied pro-ra pro -rata ta after the payment of the ta3es and assessment upon the immovable property or real ri!hts. Cruzado as an unpaid vendor of the property in %uestion has the ri!ht to share pro?rata "ith the appellants the proceeds of the foreclosure sale.
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1962 CASE (Important. This is the new ruling.) # <=4. The 4C set aside its ori!inal decision (-, c ase). # The %uestion as to "hether the Civil Code and the insolvency &a" can be harmonized is settled by $rticle ++*/. # $rticle ++*/ of the ne" Civil Code that — The claims or credits enumerated in the t"o precedin! articles (++*+ ++*- concurrence and preference of credits) shall be considered as mort!a!es or pled!es of real or personal property or liens "ithin the purvie" of le!al provisions !overnin! insolvency. • The preferences named in $rticles ++, and ++,+ (no" ++* and ++*+) are to be enforced in accordance "ith the >nsolvency &a". • There being no insolvency or liquidation the clai! o" the Cru#ado as unpaid vendor did not require the character and ran$ o" a statutory lien co-equal to the !ortgagee%s recorded encu!brance and !ust re!ain subordinate to the latter&
A9;T=7 Cruzado is no lon!er the o"ner of the property. RFC is the o"ner.