The Court of Appeals (CA) has affirmed the decision of a Pasay court that ordered an officer of a real estate firm to pay damages in the amount of P2-million for her refusal to remit proceeds of a condominium unit she sold in 1996.

In its assailed decision, the trial court found appellant Milagros D. Cubacub, Vice-President Administrator of First Marbella Condominium Association, Inc (FMCAI) civilly liable and ordered her to pay FMCAI the amount of P2,028,133 plus legal interest “from date of default.”

The said amount represent part of the proceeds of the sale of a condo unit which Cubacub negotiated in 1996 for P4 million. But she only remitted P1,971,866 and FMCAI claimed she fraudulently appropriated the remaining balance to herself.

Cubacub alleged that she had no obligation to remit to FMCAI the difference between the selling price and her remittance as she reportedly negotiated the sale of the said property in behalf of its previous owner not FMCAI.

But the trial court ruled that Cubacub was acting in behalf of FMCAI when she sold the property and had certain obligations to her principal.

The trial court also doubted Cubacub’s story after she failed to present witnesses or documents to prove her claim that it was the property’s private owner, not FMCAI which was selling the property.

FMCAI, on the other hand presented a board resolution authorizing Cubacub to sell the subject property under the terms and conditions beneficial to FMCAI.

In dismissing Cubacub’s appeal to reverse the findings of the lower court, the Thirteenth Division of the CA in a decision penned by Associate Justice Arturo G. Tayag said her testimony was self-serving as she failed to support her claim with documentary evidence or present.