May problema po kasi ang family namin sa seller ng property. Gusto ng seller na icancel na ang contract. Nagpirmahan po ng deed of conditional sale ang both parties. Though matanda na ang owner , capable pa naman po mag sign/read. Naka pirma rin po her guardian as witness narin po. There was really meeting of the minds and both parties agreed.
Reason for cancellation , they're claiming na her signature was forged , and they have another buyer that is also interested in buying the property and will use the same conditions we have.
Conditions po are ; No Downpayment only monthly allowance(deductible sa value ng property)(pero assured naman if they asked for the 50% amount, we promise to give , pero hindi naman po sila nag aask ) , they can still live in their propery until fully paid and pagkupkop sa guardian nya pag nawala sya. The conditions were made in favor of the seller since they were the ones who came at us, needed money and afraid that if anyone will buy their property , paalisin sila agad.
They already stop asking for allowance 2mos already. Since they really want to cancel our obligation and sell it to another. If rumors are true , this buyer started construction already.
The deed of conditional sale had been notarized Nov of 2011. Also filed for adverse claim under registry deeds last March 2012.
1) May right po ba ang owner to cancel the contract ?
2) May claim po ba kame as buyer like ibalik yung total na monthly allowance na binigay sa kanila plus breach of contract fine and moral damages etc if we also agreed narin to cancel just to avoid further more issues that may end up in court ?
3) What are our rights as buyer regarding termination of contract by seller ?
Thanking you in advance.