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It appears on record that the decedent Francisco Defendants further contend that even granting that
Gosiengfiao is the registered owner of a residential the plaintiffs are co-owners with the third-party
lot located at Ugac Sur, Tuguegarao, Cagayan. defendants, their right of redemption had already
been barred by the Statute of Limitations under
The lot in question was mortgaged by the decedent to Article 1144 of the Civil Code, if not by laches.
the Rural Bank of Tuguegarao (designated as
mortgagee bank, for brevity) on several occasions On September 16, 1986, the trial court dismissed the
before the last, being on March 9, 1956 and January complaint
29, 1958.
On May 13, 1991, the CA reversed the trial court's
On August 15, 1958, Francisco Gosiengfiao died decision, declaring the petitioner-heirs "co-owners of
intestate survived by his heirs, namely: Third-Party the property who may redeem the portions sold" to
Defendants: wife Antonia and Children Amparo, the respondent-buyers. The CA denied the
Carlos, Severino and herein plaintiffs-appellants respondent-buyers' motion for
Grace, Emma, Ester, Francisco, Jr., Norma, Lina reconsideration;4 thus, they came to this Court to
(represented by daughter Pinky Rose), and Jacinto. question the CA's rulings.
The Supreme Court affirmed CA’s decision.
HELD: