Title
24-K Property Ventures, Inc. vs. Young Builders Corp.
Case
G.R. No. 193371
Decision Date
Dec 5, 2016
A construction dispute over unpaid obligations led to an invalid execution sale due to improper levy and premature property seizure, nullified by the Supreme Court.

Case Summary (G.R. No. 193371)

Petitioner and Respondent Relationship

Petitioner and respondent entered into a construction contract (7 August 1996) for the construction of a 20-storey building (Lansbergh Place) for P165,000,000.00. Petitioner later executed a Deed of Real Estate Mortgage in favor of respondent over the two bare lots that became the Torre Venezia site, as securities for unpaid obligations.

Arbitral Award and Writ of Execution

Respondent secured a CIAC Final Award (19 December 2005) ordering petitioner to pay P91,084,206.43 (plus interest) and arbitration costs; the award became final and executory on 28 October 2008. While the award was on appeal, CIAC issued a writ of execution (2 May 2006) directing enforcement of the award and costs; Sheriff Villegas was designated to enforce the writ.

Execution Steps Taken by the Sheriff

Sheriff Villegas reported attempted service of the writ on petitioner’s officers (allegedly refused) and service on petitioner’s counsel, and also reported service of garnishment notices on several banks and subsequent levies on sixteen condominium units of Lansbergh Place and on the two parcels covered by TCT Nos. N-164112 and N-164113. An auction proceeded and the properties were sold to respondent for P110,504,888.05, with Certificate of Sale issued in respondent’s favor.

Antecedent Motions and Appeals

Petitioner filed a Motion to Set Aside Execution Sale and a Motion for Reconsideration before the CIAC asserting numerous procedural irregularities and gross inadequacy of price; both motions were denied. Petitioner then appealed to the Court of Appeals, which dismissed the petition. Petitioner advanced assignments of error challenging the validity of the execution sale on the grounds of irregular Levy procedure, gross inadequacy of the sale price, and alleged failure of the highest bidder to pay in full.

Petition-in-Intervention: Third-Party Purchasers’ Claims

Multiple condominium unit buyers intervened, asserting they had executed Deeds of Absolute Sale and had possession but were not issued condominium titles. They contend they were not notified of the execution sale and therefore join in assailing its validity under applicable rules (including Act 3135), and they maintain that issuance of writ of possession would unjustly deprive them of property rights.

Applicable Law and Constitutional Framework

Because the decision at issue was rendered in 2016, the 1987 Philippine Constitution provides the constitutional framework. The controlling procedural rules include the Revised Rules of Court governing execution of money judgments, specifically Section 9, Rule 39 (requiring demand for immediate payment and prescribing the order of levy), and statutory provisions referenced by the parties (including Act 3135 as raised by intervenors). Established jurisprudence on levy and execution sales is also applied.

Legal Principle on Levy and Execution Sales

The Court reiterated the foundational principle that a lawful levy is a prerequisite to a valid execution sale: an execution sale not preceded by a proper levy is void and the purchaser acquires no title. Proper levy requires a valid demand for immediate payment of the full amount stated in the writ and lawful fees, and the execution officer must follow the statutory order of levy (personal property first, then real property if personal property is insufficient).

Deficiencies in Sheriff’s Report and Service

The Court found material deficiencies in the Sheriff’s Report/Return: the report failed to specify the name of the officer who allegedly refused service, the circumstances of the refusal, and the date of attempted service. The ambiguity undermines the presumption of regularity ordinarily accorded to an officer’s official acts. The report’s vague, abstract statements could not sustain a finding of proper demand or service.

Prematurity of Levy and Failure to Provide Opportunity for Payment

The Court emphasized that the writ was served on petitioner’s counsel on 9 May 2006 — the same day the levy occurred — which, in the Court’s view, precluded a genuine opportunity for petitioner to make immediate payment. Section 9, Rule 39 contemplates that the judgment obligor be given a real chance to effect immediate payment by cash or certified check before a levy on real property is conducted. The sheriff’s contemporaneous service and levy rendered the demand illusory.

Improper Sequence of Garnishment and Levy

Although the Sheriff’s Return stated that garnishment notices were served on banks on 5 May 2006 before the 9 May 2006 levy, the Court examined the bank responses and observed that several banks were still validating accounts and many responses were dated after 9 May 2006. Only a minority clearly stated non-existence of accounts, and those replies were issued after the levy. The sequence and timing showed that petitioner was effectively deprived of having personal properties or bank accounts garnished or levied prior to resorting to real property levies, contrary to the Rules.

Conclusion on Validity of Levy and Execution Sale

Given the defective service, lack of a valid demand, and premature levy on real property without adequate prior garnishment or levy on personal property, the Court concluded there was no proper levy. Because a valid levy is indispensable, the execution sale was held void; consequently, the purchaser (respondent) acquired no title to the properties sold.

Decision Not to Reach Other Alleged Irregularities

Although petitioner and intervenors raised multiple additional irregularities and questioned gross inadequacy o

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