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Civil Law; Sale with right of repurchase; Under the old Civil
Code ownership is consolidated by operation of law.Under the
old Civil Code, the ownership was consolidated in the vendee a
retro by operation of law. Accordingly, upon the failure of Valentin
Gallano, as the vendor a retro, to redeem the property subject of
the pacto de retro sale within the period agreed upon, the vendee
a retro, Alfonso Flores, became the absolute owner of the subject
property.
Same; Same; Same; Vested right of ownership cannot be
defeated by the application of Articles 1606 and 1607 of the New
Civil Code.This right of ownership which had already vested in
Alfonso Flores way back in 1954 upon Gallanos failure to redeem
within the stipulated period cannot be defeated by the application
of Articles 1606 and 1607 of the New Civil Code which requires
registration of the consolidation of ownership in the vendee a
retro only by judicial order.
Same; Same; Same; Same; As held in Manalansan vs.
Manalang, in a sale under writ of redemption, ownership over the
thing sold is transferred to the vendee upon execution of the
contract subject only
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* SECOND DIVISION.
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11/24/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 162
Flores vs. So
YAP, C.J.:
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11/24/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 162
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11/24/2017 SUPREME COURT REPORTS ANNOTATED VOLUME 162
Decision reversed.
o0o
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