Issuance of a writ of possession is ministerial

A couple entered into a credit accommodation agreement (credit agreement) with a bank. As security to the credit agreement, real estate mortgages were executed on several properties in Kalibo, Aklan. Eventually, the couple failed to comply with the conditions of the credit agreement and a extrajudicial foreclosure took place. During the public auction, the bank emerged as the sole and highest bidder of the foreclosed properties.

Upon the issuance of the sheriff’s certificate of sale, the bank entered the sale in the Register of Deeds of Kalibo. An annotation on the transfer certificates of title (TCT) were also made. After a lapse of one (1) year, however, the couple failed to exercise their right to redeem the foreclosed properties. Hence, the bank consolidated the ownership over the properties and had new TCTs issued in its name. The bank also filed a petition for the issuance of a writ of possession with the Regional Trial Court (RTC) since the period to redeem the foreclosed properties had already lapsed. The couple opposed the petition on the ground that a civil case seeking to nullify the credit agreement, particularly the rate of interest in the promissory notes, was still pending with the court.