REPUBLIC OF THE PHILIPPINES

PROVINCE OF BUKIDNON
REGIONAL TRIAL COURT
BRANCH ___, MALAYBALAY CITY

NEGROS INTEGRATED INDUSTRIES

CORPORATION,
Plaintiff,

-versus- Civil Case No. _____________

FOR: ALTERATION and/or
AMENDMENT OF
CERTIFICATES OF TITLE/
CANCELLATION OF ENTRY

The Registry of Deeds of Bukidnon

And the Insurance Commission,
Defendants,

x------------------------------------------------/

PETITION FOR ALTERATION and/or

AMENDMENT OF CERTIFICATES OF TITLE/
CANCELLATION OF ENTRY

COMES NOW, Plaintiff through the undersigned counsel and to this

Honorable Court, most respectfully avers that:

1. Plaintiff NEGROS INTEGRATED INDUSTRIES CORPORATION

(hereinafter referred to as Plaintiff Corporation) is a corporation duly
organized and existing under the laws of the Republic of the
Philippines with business address at Corner Villa Valderrama
Subd., Lacson St., Bacolod City represented by
_________________, of legal age, married and a resident of
___________, where they may be served with summons and other
processes of the Honorable Court;

2. Respondent Registry of Deeds through the present Registrar of

Deeds of Bukidnon, Atty. Manuel C. Felicia, is with office address at
Registry of Deeds Building, Sanvictores Street in the City of
Malaybalay, Province of Bukidnon, where he may be served with
summons and other processes of the Honorable Court;
3. Respondent Insurance Commission through Insurance
Commissioner, Atty. Dennis M. Funa, is with office address at 1071
United Nations Ave., Ermita, Manila where he may be served with
summons and other processes of the Honorable Court;

4. Plaintiff Corporation is the registered owner of Lot No. 1260 and

1261 located in the City of Malaybalay, Province of Bukidnon,
covered by TCT No. T-23149 and T-23150, respectively, of the
Register of Deeds of Bukidnon. Copy of the said titles are attached
herewith as Annexes “A” and “B”, respectively;

5. Plaintiff Corporation acquired the subject parcels of land from T.H.

Valderrama & Sons (hereinafter referred to as VALSONS) as a
settlement of their obligation to herein Plaintiff;

6. Annotated at the back of the aforesaid titles under the same Entry
No. 98227 is a Deed of Real Estate Mortgage executed by
VALSONS, the previous owner of the parcels of land, in favor of
AFISCO Insurance Corporation (hereinafter referred to as AFISCO)
inscribed on May 9, 1985;

7. VALSONS already paid her principal obligation to AFISCO

Insurance Corporation, hence, the original owner’s copy of the
subject titles were returned and are now in the possession of the
Plaintiff Corporation;

8. Moreover, no demand for payment was made by AFISCO despite

the lapse of thirty years if there been no payment thereof;

9. Despite the payment of the principal obligation, the previous owner

VALSONS failed to cancel Entry No. 98227 for the Deed of Real
Estate Mortgage;

10. VALSONS has no existing copy of receipt of payment and/or the

release of mortgage;

11. Considering that Plaintiff Corporation and VALSONS cannot

produce copy of the receipt evidencing full payment and release of
the Real Estate Mortgage, Plaintiff opted to demand from AFISCO
Insurance Corporation a copy of the needed document/s;
12. Upon verification and inquiry, Plaintiff Corporation learned that
AFISCO Insurance Corporation is no longer operational and is now
under liquidation with the Insurance Commission. Attached
herewith are copies of Plaintiff Corporation letter to Insurance
Commission dated August 4, 2011, reply letter of the Insurance
Commission dated August 31, 2011 and a Certification hereto
referred as Annexes “C”, “D”, and “E”, respectively;

13. The Insurance Commission also, being the liquidator of AFISCO,

has no document of the subject mortgage, more so of the receipt of
payment or any transaction by AFISCO with VALSONS. Attached
herewith is a copy of the Insurance Commission letter dated August
8, 2015 hereto referred as Annex “F”;

14. Despite efforts exerted by VALSONS, documents relative to the

mortgage with AFISCO cannot be located;

15. On October 7, 2015, Plaintiff Corporation sent a request-letter to

Atty. John A. Apatan for the Cancellation of the Mortgage. However,
per March 7, 2016 reply of Insurance Commissioner Emmanuel F.
Dooc, the Commission cannot execute a Deed of Cancellation of
Mortgage absent any document proving that a settlement of the
principal obligation has been made;

16. Up to the present, no person filed any claim or interest in the

property covered by the said titles;

17. That herein Plaintiff has no other recourse but to file this instant
petition for the cancellation of the same ENTRY NO. 98227 in both
titles with TCT No. T-23149 and T-23150;

CAUSE OF ACTION
(AMENDMENT AND ALTERATION OF
CERTIFICATES OF TITLE)

18. Plaintiff Corporation repleads, reproduces and incorporates by

reference all the foregoing paragraphs as integral parts hereof and
further avers that:

19. Under Section 108 of PD 1529 or PROPERTY REGISTRATION

DECREE provides that a registered owner or any other person
having an interest in registered property may file with the proper
regional trial court a petition for annulment or alteration of a
certificate of title on the ground, among others, that the registered
interests of any description, whether vested, contingent, expectant
or inchoate appearing on the certificate have been terminated and
ceased. Said remedy is made available, to wit:
a. Section 108. Amendment and alteration of certificates. No
erasure, alteration, or amendment shall be made upon the
registration book after the entry of a certificate of title or of a
memorandum thereon and the attestation of the same be
Register of Deeds, except by order of the proper Court of First
Instance. A registered owner of other person having an
interest in registered property, or, in proper cases, the
Register of Deeds with the approval of the Commissioner of
Land Registration, may apply by petition to the court upon the
ground that the registered interests of any description,
whether vested, contingent, expectant or inchoate appearing
on the certificate, have terminated and ceased; or that new
interest not appearing upon the certificate have arisen or been
created; or that an omission or error was made in entering a
certificate or any memorandum thereon, or, on any duplicate
certificate; or that the same or any person on the certificate
has been changed; or that the registered owner has married,
or, if registered as married, that the marriage has been
terminated and no right or interests of heirs or creditors will
thereby be affected; or that a corporation which owned
registered land and has been dissolved has not convened the
same within three years after its dissolution; or upon any other
reasonable ground; and the court may hear and determine the
petition after notice to all parties in interest, and may order the
entry or cancellation of a new certificate, the entry or
cancellation of a memorandum upon a certificate, or grant any
other relief upon such terms and conditions, requiring security
or bond if necessary, as it may consider proper; Provided,
however, That this section shall not be construed to give the
court authority to reopen the judgment or decree of
registration, and that nothing shall be done or ordered by the
court which shall impair the title or other interest of a
purchaser holding a certificate for value and in good faith, or
his heirs and assigns, without his or their written consent.
Where the owner's duplicate certificate is not presented, a
similar petition may be filed as provided in the preceding
section. (emphasis ours)
 20. Plaintiff Corporation further manifests that it is ready and willing
to give security or bond if necessary, as the Honorable Court may
consider proper.

PRAYER

WHEREFORE, premises considered, it is most respectfully prayed

that this Honorable Court order that the Deed of Real Estate Mortgage under
Entry No. 98827 of Transfer Certificates of Title No. T-23149 and T-23150
be cancelled and new amended and/or altered Certificates of Title be issued
to reflect the cancellation.

Relief and other remedies under the circumstances are likewise

prayed for.

Respectfully submitted this 8th of March 2018. Malaybalay City,

Bukidnon, Philippines.

LAGAMON AND ASSOCIATES LAW OFFICE

2nd Floor, Jamstar Bldg., corner
Judge Carillo-San Isidro St.
Brgy 5 Poblacion, Malaybalay City Bukidnon
Counsel for the Plaintiff

By:

DENCE CRIS L. RONDON

Roll of Attorneys’ No. 67495
PTR No. 6933714/10-JAN-2018/BUK.
IBP O.R. No. 23742/15-JAN-2018/BUK.
Tax Identification No. 496-556-017-000
Exempted from compliance with MCLE for the year 2018
REPUBLIC OF THE PHILIPPINES )
MALAYBALAY CITY ) S.S.

VERIFICATION
AND
CERTIFICATION OF NON-FORUM SHOPPING

I, ___________________, Filipino, of legal age and a resident of Poblacion

Alaminos, Pangasinan, after having been sworn in accordance with law, hereby depose
and state, that:

1. I am the authorized representative of the Plaintiffs in the above-entitled case

and have caused the preparation of the foregoing Petition for Alteration and/or
Amendment of Certificates of Title filed before this Honorable Court.

2. I have read the contents thereof and affirm that the same are true and correct
based on my personal knowledge or based on authentic records.

3. I have not heretofore commenced any other action or proceeding, or filed any
claim involving the same issues with the Supreme Court, Court of Appeals, or
any division thereof or in any other court, tribunal or agency. To the best of my
knowledge, no such other action, proceeding or claim is pending before the
Supreme Court, Court of Appeals, or any division thereof, or in any other court,
tribunal or agency.

4. If I should hereafter learn that a similar action or proceeding has been filed
before the Supreme Court, the Court of Appeals, or the different Divisions
thereof, or any other tribunal or agency, I hereby undertake to promptly inform
this Honorable Court of that fact within Five (5) days from notice thereof.

Done this ____ day of ____________, at Malaybalay City, Bukidnon, Philippines.

__________________
Affiant

SUBSCRIBED AND SWORN to before me this _____ day of ______ 2018, in

Malaybalay City Philippines, affiant exhibiting to me his _______________ issued on
___________________ at __________________.