- Petitioner
- New Regent Sources
- Respondent
- Teofilo Victor Tanjuatco, Jr.
- Citation
- G.R. No. 168800
- Court
- Supreme Court
- Division
- Second Division
- Ponente
- Quisumbing, J.
- Decided
- April 16, 2009
Summary
New Regent Sources, Inc. (NRSI) filed a complaint for rescission, reconveyance and damages against Teofilo Tanjuatco, claiming ownership of two parcels of land through right of accretion. NRSI alleged that its Chairman/President Vicente Cuevas was authorized to apply for the lands but instead applied in his own name and assigned rights to Tanjuatco for P85,000. The RTC granted Tanjuatco's demurrer to evidence, dismissing the case. The Supreme Court affirmed, ruling that NRSI failed to establish the requisites for reconveyance, particularly the right of accretion under Civil Code Article 457, and that Tanjuatco was an innocent purchaser for value. The Court emphasized that the lands, being part of a dried river bed, properly belonged to public dominion and the Republic had the right to transfer ownership to Tanjuatco through proper legal channels.