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A doctrine that often places on buyers the burden to reasonably examine property before purchase and take responsibility for its condition. A warning that notifies a buyer that the goods he or she is buying are "as is," or subject to all defects.
The rule of caveat emptor requires the purchaser to be aware of the supposed title of the vendor and one who buys without checking the vendors title takes all the risks and losses consequent to such failure. (Caram vs. Laureta, 103 SCRA 16 [1981]; Consolidated Rural Bank (Cagayan Valley) Inc. vs. CA, et al, G.R. No. 132161, January 17, 2005; see also Sps. Mathay vs. Court of Appeals, 356 Phil. 870 [1998]).
A person dealing with registered land has a right to rely upon the face of the certificate of title and to dispense with the need of inquiring further, except when the party concerned has actual knowledge of the facts and circumstances that would impel a reasonably cautious man to make an inquiry.
One who purchases real property which is in actual possession of others should, at least, make some inquiry concerning the rights of those in possession. The actual possession by people other than the vendor should, at least, put the purchaser upon inquiry. He can scarcely, in the absence of such inquiry, be regarded as a bona fide purchaser as against such possessions. (Rep. vs. CA, 102 SCRA 331; Conspecto vs. Fuerto, 31 Phil. 144)
MENARD KILITO