4 years ago, my parents owed 1M to my Auntie (Sister of my mother). They made a legal contract to pay my auntie the amount of 1M within 5 years, but before they legalized the said contract, it is payable for 10 years but the terms indicated on the contract is only 5 years because as per my auntie's attorney, it can be renewed.
2 years after, my mother passed away. I spoke to my auntie if we can pay the debt on a staggered basis but she refused to that kind of agreement.
My Husband and I, filed an application from PAGIBIG so we can get a loan to pay my auntie. I told my auntie if the PAgibig approved the loan, can I borrow the original title but simultaneously, we will provide the letter of guarantee issued by the pagibig.
My auntie doesn't agree with it. I have a feeling that she wants to get the property.
We are worried if she can really get the property on the contract date indicated.
Please tell me what to do,, come MArch 2015 is the expiration date. Would they get the property?
Thank you very much in advance