Delfin Lee files case on gov’t takeover of housing project titles

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Delfin Lee files case on gov’t takeover of housing project titles

 

By Tetch Torres-Tupas  8:10 pm Monday Aug 11th, 2014
INQUIRER.net

Real estate developer Delfin Lee. INQUIRER FILE PHOTO

MANILA, Philippines—Detained real estate developer Delfin Lee filed before a Pampanga Regional Trial Court a case against the government’s takeover of titles covering P17 million worth of property in Globe Asiatique’s Xevera Mabalacat project in Barangay Tabun, Mabalacat, Pampanga.

In his petition, Lee asked the court for the “quieting of title and removal of clouds from the titles of Globe Asiatique which were illegally cancelled by defendants HDMF (Home Development Mutual Fund) 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.

Lee said Pag-IBIG has taken over the property from borrower-buyers whose housing loan application were approved by Pag-IBIG itself under the prevailing guidelines of the Pag-IBIG Housing Loan Programs.

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.”

The Civil Code prohibits a creditor, in this case Pag-IBIG, from acquiring ownership of the property pledged or mortgaged upon default of the borrower, Lee explained.

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 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.”

He also asked the court to demand that HDMF pay attorney’s fees of Php200,000, exemplary damage of Php150,000, litigation expenses of Php150,000 and cost of suit.

http://newsinfo.inquirer.net/628187/delfin-lee-files-case-on-govt-takeover-of-housing-project-titles

 

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