Bong bought a land from Jun five (5) years ago. Bong admits that there is an annotated adverse claim of a certain Lino that he bought the land from the owner. However, the said annotation was already canceled. Lino is claiming that he owned the land since this was first sold to him. He further stated that he could recover the property since Bong had knowledge that it was sold to him through the annotation of adverse claim.

Is Lino correct? Why or why not?