Question

Mr. Santos owns a piece of land in the province of Laguna. He decided to sell the land to Ms. Reyes. They entered into a valid contract of sale, with Ms. Reyes paying the full purchase price to Mr. Santos. However, before the transfer of title was completed, a calamity struck and the land was totally destroyed. Mr. Santos and Ms. Reyes now find themselves in a legal dispute.

Given the scenario above, answer the following questions:

1. Is the contract of sale between Mr. Santos and Ms. Reyes still valid despite the destruction of the land? Explain your answer.
2. What legal remedies are available to Mr. Santos and Ms. Reyes in case the contract of sale is rendered void or rescinded? Discuss.
3. If Ms. Reyes had already acquired ownership over the land but it was destroyed, what are her rights as the owner? Cite applicable laws and jurisprudence to support your answer.