ALFREDO C. LIM, JR. v. SPOUSES TITO S. LAZARO and CARMEN T. LAZARO, G.R. No. 185734, July 3, 2013

Civil procedure; Writ of preliminary attachment subsists until judgment is satisfied. By its nature, preliminary attachment, under Rule 57 of the Rules of Court (Rule 57), is an ancillary remedy applied for not for its own sake but to enable the attaching party to realize upon the relief sought and expected to be granted in the main or principal action; it is a measure auxiliary or incidental to the main action. As such, it is available during its pendency which may be resorted to by a litigant to preserve and protect certain rights and interests during the interim, awaiting the ultimate effects of a final judgment in the case. In addition, attachment is also availed of in order to acquire jurisdiction over the action by actual or constructive seizure of the property in those instances where personal or substituted service of summons on the defendant cannot be effected.

In this relation, 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.

In Chemphil Export & Import Corporation v. CA, the Court pronounced that a writ of attachment is not extinguished by the execution of a compromise agreement between the parties.

Full text here.

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