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Need advice of what to do of the lot we bought without proper documentation

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Herbie


Arresto Menor
Hi Everyone,

We bought a lot from a family friend. the lot be bought is only a part of the whole lot area. we bought it since 2009 and still now we don't have a formal and signed documents.

The said lot area even doesn't have subdivision plan for way back 2009 they told us they are applying still for the subdivision plan.

Need your advise of what should we do coz it's been 4 years and we still don't have a document singed and notorized that we own the lot coz the owner keeps on telling us that it the subdivision of lots and transfer of title is still in progress.

Thank you.

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rchrd


moderator
you can choose to file either 1)recission with damages or 2)specific performance with damages.

1)recission - you like to withdraw from the contract because of the failure of the other party to comply with what is incumbent upon him/her plus you are asking for payment of damages caused to you by the other party's failure.

2)specific performance - you like the other party to comply with what is incumbent upon him/her but because there was delay on his/her part, you are asking also for payment of the damages resulting from the delay.

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Herbie


Arresto Menor
Hi Sir Richard,

Thanks for the reply. Appreciate it much! Follow up question Sir, regarding the damages payment is their a minimum and maximum amount i can get from them as payment?

Thank,

Herbie

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rchrd


moderator
the damages will be awarded based only on what you can prove as reasonbaly caused by the defendant against you.

So your limitation will be if you lack sufficient proof that you suffered damages.

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Herbie


Arresto Menor
We are planning Sir for the span of 4 years, we'll ask for an amount just like in a bank were our payment has to have an interest good for 4 years. So we'll ask them for a refund plus the interest good for 4 years coz we don't want to wait for more years for the legal and signed documents for the lot we purchased.

Would this be possible as I speak in a legal way? Please advise.

Thanks,

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rchrd


moderator
Most likely, the court will award interest of 6% per annum

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Herbie


Arresto Menor
Thank you so much for your time and advises Sir!

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