Angel Ortiz v. Angel Ortiz

Summary

This case involved a dispute over property ownership arising from a sale with pacto de retro. Angel Ortiz, owing P270,000 to Hongkong and Shanghai Banking Corporation, sold 21 properties to the bank with a right to repurchase within one year, later extended to two years. When Ortiz failed to repurchase by April 21, 1910, the bank claimed absolute ownership. During ongoing land registration proceedings initiated by Ortiz, the bank successfully moved to substitute itself as applicant. The Supreme Court affirmed the Court of Land Registration's decision, applying Civil Code provisions on conditional sales to rule that the bank had irrevocably acquired ownership when Ortiz failed to exercise his repurchase right within the stipulated period. The case establishes important precedent on the legal effects of pacto de retro sales and property registration rights.