Real estate developer Globe Asiatique Inc. (GA) has sued the government's take over of land titles covering P17 million worth of property in GA's Xevera Mabalacat project in Brgy. Tabun, Mabalacat Pampanga.
Lawyer Rony Garay, counsel of GA and its detained owner, Delfin Lee, said they filed a 29-page omnibus motion to recall before the Angeles City Regional Trial Court (RTC) as a result of the alleged illegal cancellation by the Home Development Mutual Fund (HDMF) also known as Pag-ibig of the titles of 30 house and lot units.
In its petition, GA asked the court to direct the quieting of title and removal of clouds from the titles of Globe Asiatique which were illegally cancelled by defendants HDMF and RD (Register of Deeds) and asked the court to compel Pag-ibig to pay P500,000 in damages, litigation costs and attorney's fees.
"In the absence of any demand, orally or in writing, or a notice to buy back the foregoing accounts, and without herein plaintiff (Globe Asiatique) being declared in default … defendant HDMF used provisions of Deeds of Assignments with Special Power of Attorney, in particular… to transfer the following titles in its name (Pag-ibig)." the firm complained.
Globe Asiatique claimed that Pag-ibig had taken over the property from borrower-buyers whose housing loan applications were approved by Pag-ibig itself under the prevailing guidelines of the Pag-IBG Housing Loan Program.
It added that the terms of the Deed of Assignment,Contract to Sell and Special Power of Attorney (DA of CTS with SPA) had been drafted unilaterally by Pag-ibig.
"The provision of the DA of CTS w/ SPA vis-à-vis the illegal transfer of the foregoing titles made by defendant HDMF in its name which was allowed by defendant Register of Deeds , is clearly violative of the Civil Code hence,null and void."
Under the said civil code provisions on pactum commisorium, Globe Asia underscored that a "creditor cannot appropriate the things given by way of pledge or mortgage, or dispose of them (and that) any stipulation to the contrary is null and void.”
The developer asked the court to hand down an order "directing defendant HDMF to release the titles to the said properties with a value of Php 17,274,880.00 to be issued in the name of plaintiff Globe Asiatique upon cancellation of the former’s illegally transferred titles, to the above-named unwilling co-plaintiffs upon compliance by the unwilling co-plaintiffs with the proper payment of taxes, transfer fees, and other obligations under their respective contracts with defendant HDMF and plaintiff Globe Asiatique."
They also asked the court to demand that HDMF pay attorney’s fees of Php200,000.00, exemplary damage of Php150,000.00, litigation expenses of Php150,000.00 and cost of suit.