In LRC Consulta No. 32, this Authority held that "while it is true that the function of the Register of Deeds is purely ministerial, he is nevertheless allowed to examine the documents presented whether or not from its face, it appears that there are defects in the fromal requisites or there are some legal deficiencies, he cna properly deny its registration."
In the consulta at bar, the documents presented to the respondent yields from its face, a legal deficiency. The property on which the subject Notice of Lis Pendens is sought to be registered does not belong to the decedent, but to the corporation where deceased Francisco Angeles was a stockholder. It is a basic priciple in law that ownership of some shares of stock in a corporation does not entitle a shareholder to claim ownership over the capital assets of the corporation. In LRC Consulta No.44, this Authority held that " a share of stock only typifies an aliquot part of the corporation's property, or the right to share in the proceeds to that extent when distributed according to law and equity, but the holder is not the owner of any part of the capital assets of the corporation. Nor is he entitled to the possession of any definite portion of its property."
(LRA Consulta No. 3209 dated November 19, 2002, Aleli "corazon" Angeles-Maglaya vs. The Registrar of Deeds of Meycauayan, Bulacan)
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