Periquet v. Reyes

ANTONIO, J.:

Petition for certiorari and injunction with preliminary injunction. The following are the relevant facts: On. February 29, 1964, in Civil Case No. 7300,1 the following Compromise Agreement was entered into and submitted to the trial court for approval: ñé+.£ªwph!1 COME NOW the undersigned parties, assisted by their respective counsel, and respectfully move for approval of their Compromise Agreement and states: 1st.-That parcels of land involved in this action, covered by Transfer certificate of Title Nos. 22657 to 22678, inclusive, of the of deeds of Rizal, were purchased and acquired by Maria Suarez (now deceased), Flaviana Muli Vda.

de Suarez, B. Rene Gomez, Marcelo Suarez (now deceased), and Marcial Suarez, all of were incorporators of the Suarez Estate, Inc., as their capital contributions to said corporation, as evidenced by their "Incorporators" Preliminary Agreement (Annex "A" to the complaint), the Deed of Sale with Assumtion of Liabilities (Annex "B"

to the complaint); 2nd.-That upon the incorporation of the said Suarez Estate, Inc., on November 21, 1951, the aforesaid parcels of land represented the capital contributions of the five above-named incorporators, notwithstanding the fact that the lots were registered in the name of Maria Suarez: 3rd.-That in the confusion that ensued following the death of Maria Suarez in 1954 and, later, of Marcelo Suarez in 1955, the Suarez Estate Inc. failed to organize formally as required by law and to carry out its corporate purposes: 4th.-That in view of the aforesaid demise of their two principal co- incorporators, the heirs of said deceased as well as the remaining incorporators have agreed, as by these presents they do hereby agree, not to proceed with the formal organization of the Suarez Estate, Inc., and, instead, to return to each of the incorporators their respective contributions consisting of shares in the parcels of land covered by TCT Nos. 22657 to 22678, inclusive of the Register of Deeds of Rizal; with the exception of the following parcels which, during the lifetime of the deceased Maria Suarez and Marcelo Suarez, were already sold to the persons enumerated hereunder, to wit: ñé+.£ªwph!1 '(a) Lot 1, Block 369, under TCT No. 22657 of the Register of Deeds of Rizal in favor of Marcelo Suarez; (b) Lot 8, Block 369, under TCT No. 22664 of the Register of Deeds of Rizal, in favor of Juan Francisco and Aquilino Cruz; (c) Lot 9, Block 369, under TCT No. 22665 of the Register of Deeds of Rizal, in favor of the spouses B, Rene Gomez and Trinidad Suarez-Gomez, (d) Lot 2, Block 370, under TCT No. 22667 of the Register of Deeds of Rizal, in favor of Buenaventura Bernabe; (e) Lot 4, Block 370, under TCT No. 22668 of the Register of Deeds of Rizal, in favor of Juan Cuadrado; (f) Lot 6, Block 370, under TCT No. 22671 of the Register of Deeds of Rizal, in favor of Ciriaco Montano; and (g) Lot 5, Block 370, covered by TCT No. 22670 of the Register of Deeds of Rizal, in favor of the spouses B. Rene Gomez and Trinidad Suarez-Gomez, to whom a new transfer certificate of title for said lot should be issued; but said spouses-vendee shall, in addition to the sum of Fourteen Thousand Pesos (P 14,000.00) already paid, by them as purchase price of this lot, pay to their co-incorporators as well as the heirs of the deceased co-incorporators the following amounts: 'ñé+.£ªwph!1 (a) To FLAVIANA MULI VDA.

DE SUAREZ, the sum of P3,333.33; (b) to FRANCISCO PERIQUET, as surviving spouse of Maria Suarez, the sum of P3,666.67; and (c) To MARIA SUAREZ and the HEIRS OF MARCELO SUAREZ, B. RENE GOMEZ, and the HEIRS OF INCORPORATOR - CONTRIBUTOR MARCELO SUAREZ, thirty per cent (30%) 5th. - That the remaining lots involved in this action namely, those describe in and covered in by the Transfer Certificates of Title Nos. 22658, 22659, 22660, 22661, 22662, 22666, 22668, 22672, 22673, 22674, 22675, 22676, and 22677 and 22678, all of the Register deeds of Rizal, are hereby returned to, and henceforth shall in the meantime be owned on common by, the followign incorporators and the heirs of the deceased incorporators, the same, or the proceeds of thereof if sold, to be partitioned among themselves in the following proportions; (a) To FLAVINIANA MULI VDA. DE SUAREZ, as incorporator-contributor, thirty-three and one-third percent (33-1/3%); (b) To the surviving spouse of incorporator-contributor Maria-Suarez, FRANCISCO-PERIQUET, thirty-six and two-thirds percent (36-2/3%); and (c) To incorporators-contributors MARIA SUAREZ, B. RENE GOMEZ, and the HEIRS OF INCORPORATOR-CONTRIBUTOR MARCELO SUAREZ, thirty percent (30%) 6th.

- That it is hereby agreed by all the parties in Civil Case No. 7300 of this court, Branch VI, for the purpose of this compromise agreement that the remaining Mandaluyong Subdivision lots, which are still in the name of the deceased MARIA SUAREZ, do not form part of her estate, for they actually belong to and are owned by the incorporators of the Suarez Estate, Inc., as their capital contribution to the corporation which consists of the following: GROUP I - Block 369, consisting of five (5) lots, to wit: Area in Sq. M. Appraised at: Total 1) Lot No. 3, 1063.00 sq. m.

P45.00 P47,835.00 2) Lot No. 4, 1158.00 sq. m. P45.00 P52,110.00 3) Lot No. 5, 11568.00 sq.

m. P45.00 P68,040.00 4) Lot No. 6, 1219.00 sq. m.

P60.00 P73.140.00 5) Lot No. 7, 1052.00 sq. m. P60.00 P63,120.00