property by installment repossess!!
1 property by installment repossess!! on Thu Mar 21, 2013 1:39 pm
2 bakit po binawi? kawawa naman yung buyer mukhang wala pang alam sa legal contrak on Thu Mar 21, 2013 5:05 pm
francis17 wrote:Good Day!, I would like to ask an advise with regards to a sale of property by installment, which has been repossess by its owner. It is understood that it is a breach of contract in part of the owner. A certain portion of the contract as condition #3. states that " at anytime the seller will decide to recover the same property for whatever reason ; the buyer will claim without demand all PAYMENTS made and will be given six (6) months to vacate the property." that is exactly what is written in the contract.This happens last march 18, 2013. The buyer issued a demand letter dated March 20, 2013. has to be paid within 15 days upon the date of the demand letter. the problem is the buyer is insisting that we have to pay her in cash the six (6) months period to vacate the property in reference to condition #3 which i stated earlier , converted into cash equivalent to php36,000 (php6,000 x 6 months) My question is do we have an obligation to pay the said amount? insisting that the six months period that we are giving her to vacate the property is free of charge and should be converted into cash?. For all I know it is not stated in the contract that the six (6) months period to vacate the property is free of charge. and never to convert it into cash. I need your legal opinion please help me to enlighten my mind. Thanks a lot More Power and God Bless!
4 Re: property by installment repossess!! on Fri Mar 22, 2013 11:58 am
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