Flores v. Bercasio

SR., J.:

Before the Court is a petition for review on certiorari to set aside the Resolution1 of the Court of Appeals dated April 27, 2001 in CA-G.R. SP No. 63887, denying the petitioner's motion for extension of time to file petition for certiorari and dismissing the petition, and the Resolution2 dated July 17, 2001, denying the motion for reconsideration thereon. The Antecedents Petitioner Milagros G. Flores, 50 years old, was a registered nurse based in New York, United States of America. She owned a parcel of land located at No. 16 Aguila St., Dizon Subdivision, Baguio City, covered by Transfer Certificate of Title (TCT) No. 44901.3 On May 3, 1996, the petitioner executed a Deed of Sale in the United States in which she sold the property to respondents Teresita Bercasio and her sister Jovita Castillano for US$75,000, with a downpayment of US$38,000, the balance to be paid in thirty-six (36) monthly installments commencing on July 1, 1996.

The respondents executed a deed of real estate mortgage over the property in favor of the petitioner as security for the payment of the balance of the purchase price.4 The respondents, thereafter, returned to the Philippines and took possession of the property. On June 6, 1999, the petitioner and her husband Federico G. Flores filed a Complaint5 for Foreclosure of Mortgage and Damages against the respondents before the Regional Trial Court of Baguio City, Branch 7. The case was docketed as Civil Case No. 4410-R. In their complaint, the petitioner and her co-plaintiff alleged that they were the registered owners of the property, and that the respondents failed to pay the installments due thereon.

Thus: 7. Defendants violated the terms of the installment payment stipulated in Annex "B" and that of the balance of $37,000 and the stipulated 10% interest per year they have only paid the plaintiffs US$8,300.00 as follows: $500.00 in March 1997, $5,800.00 in September 1997, $2,000.00 in September 1997, and refused without just cause to pay the balance.

8. As of June 1, 1999, defendants are indebted to the plaintiffs in the total sum of US$39,800.00 computed as follows which they have refused to pay without just cause: a) Principal $37,000.00 b) Interest: $37,000 x 10% = $3,700 x 3 years - 11,100.00