ALFREDO C. LIM, JR. vs. SPOUSES LAZARO, G.R. No. 185734, July 3, 2013

Facts:
On August 22, 2005, Lim, Jr. filed a complaint for sum of money with prayer for the issuance of a writ of preliminary attachment before the RTC, seeking to recover from respondents-spouses Tito S. Lazaro and Carmen T. Lazaro (Sps. Lazaro) the sum of ₱2,160,000.00, which represented the amounts stated in several dishonored checks issued by the latter to the former, as well as interests, attorney’s fees, and costs. The RTC granted the writ of preliminary attachment application and upon the posting of the required ₱2,160,000.00 bond, issued the corresponding writ. In this accord, three (3) parcels of land situated in Bulacan, covered by Transfer Certificates of Title (TCT) Nos. T-64940, T-64939, and T-86369 (subject TCTs), registered in the names of Sps. Lazaro, were levied upon.

on September 22, 2006, the parties entered into a Compromise Agreement whereby Sps. Lazaro agreed to pay Lim, Jr. the amount of ₱2,351,064.80 on an installment basis, following a schedule of payments covering the period from September 2006 until October 2013. The aforesaid compromise agreement was approved by the RTC.

Subsequently, Sps. Lazaro filed an Omnibus Motion, seeking to lift the writ of preliminary attachment annotated on the subject TCTs, which the RTC granted. Lim, Jr. filed a motion for reconsideration which was, however, denied prompting him to file a petition for certiorari before the CA. The CA rendered the assailed decision finding no grave abuse of discretion on the RTC’s part. Aggrieved, Lim, Jr. moved for reconsideration which was likewise denied by the CA.

Hence, the instant petition.

Issue:
Whether the writ of preliminary attachment was properly lifted.

Held:
No, while the provisions of Rule 57 are silent on the length of time within which an attachment lien shall continue to subsist after the rendition of a final judgment, jurisprudence dictates that the said lien continues until the debt is paid, or the sale is had under execution issued on the judgment or until the judgment is satisfied, or the attachment discharged or vacated in the same manner provided by law.