Homeowners Savings & Loan Bank… · G.R. 153802

Petitioner: Homeowners Savings & Loan Bank
Respondent: Miguela C. Dailo
Citation: G.R. No. 153802
Court: Supreme Court
Division: Second Division
Ponente: Tinga, J.
Decided: March 11, 2005

Summary

This case involves the validity of a real estate mortgage on conjugal property executed without the spouse's consent. Homeowners Savings & Loan Bank obtained a mortgage on property owned by spouses Dailo through a special power of attorney from the husband, without the wife's knowledge. After the husband's death and foreclosure, the wife sued for nullity of the mortgage. The Supreme Court affirmed lower courts' rulings that the mortgage was void under Article 124 of the Family Code, which requires both spouses' consent for disposition of conjugal property. The Court rejected the bank's argument that Article 493 of the Civil Code on co-ownership should apply, holding that conjugal partnerships are governed by Family Code provisions. The decision reinforces the protection of conjugal property rights and the requirement of spousal consent for encumbrances on marital property.

Statutes applied

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By the Intellegal Editorial Board · March 11, 2005

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