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Ramos v Sarao
Facts: Spouses Jonas Ramos Ramos and Myrna Ramos executed a contract over their conjugal house and lot in favor of Susana S. Sarao for and in consideration consideration of P1!1"#!". $ntitled %&$$& 'F S()$ *+&$R P(,-' P(,-' &$ R$-R' the contract inter alia granted the Ramos spouses the option to repurchase the property /ithin six months from Fe0ruary 1 1221 for P1!1"#!" plus an interest of #.3 percent a month. 4t /as further agreed that should the spouses fail to pay the monthly interest or to exercise the right to repurchase /ithin the stipulated period the conveyance /ould 0e deemed an a0solute sale.
Myrna Ramos tendered to Sarao the amount of P15!!"!#." in the form of t/o manager6s chec7s /hich the latter refused to accept for 0eing allegedly allegedly insu8cient. 'n (ugust 9 1221 Myrna led a ,omplaint for the redemption of the property property and moral damages plus attorney6s fees. 'n (ugust 1! 1221 she deposited /ith the R-, t/o chec7s that Sarao refused to accept.
-hereafter -hereafter Sarao Sarao led against against the Ramos Ramos spouses spouses a Petition Petition %for %for consolidation consolidation of of o/nership o/nership in pacto de retro retro sale.
4ssue: ;hether the parties intended the contract to 0e a 0ona de pacto de retro sale or an e
=eld: -here is no single conclusive conclusive test to determine determine /hether a deed a0solute on its face is really a simple loan accommodation accommodation secured 0y a mortgage. =o/ever the la/ enumerates several instances that sho/ /hen a contract is presumed to 0e an e
Article 1602.
-he contract shall 0e presumed to 0e an e
>1? ;hen the price of a sale /ith right to repurchase is unusually inade
>? ;hen the vendor remains remains in possession as lessee or other/ise@
>!? ;hen upon or after the expiration expiration of the right to repurchase another instrument extending the period of redemption or granting a ne/ period is executed@
>#? ;hen the purchaser retains for himself a part of the purchase price@
>3? ;hen the vendor 0inds himself to pay the taxes on the thing sold@
>5? 4n any other case /here it may 0e fairly inferred that the real intention of the parties is that the transaction shall secure the payment of a de0t or the performance of any other o0ligation.
4n any of the foregoing cases any money fruits or other 0enet to 0e received 0y the vendee as rent or other/ise shall 0e considered as interest /hich shall 0e su0ject to the usury la/s.
Furthermore a contract purporting to 0e a pacto de retro is construed as an e
Jurisprudence has consistently declared that the presence of even just one of the circumstances set forth in the forgoing ,ivil ,ode provision su8ces to convert a contract to an e
4n the present factual milieu the vendor retained possession of the property allegedly sold. Petitioner and her children continued to use it as their residence even after Jonas Ramos had a0andoned them. 4n fact it remained as her address for the service of court orders and copies of Respondent Sarao6s pleadings.
-he presumption of e
,ontrary to Sarao6s 0are assertions a meticulous revie/ of the evidence reveals that the alleged contract /as executed merely as security for a loan.