![]() ![]() 9552 or (c) claim an equitable refund of prior payments and/or deposits made by the defaulting buyer to the seller pertinent to their transaction under R.A. ![]() 6552 and jurisprudence: (a) pay in advance any installment at any time, necessarily without interest (b) pay the full unpaid balance of the purchase price at any time without interest, and to have such full payment of the purchase price annotated in the certificate of title covering the real property subject of the transaction under R.A. Q: What are the basic remedies of a defaulting buyer under the Maceda law?Ī: A defaulting buyer of real property on installments, whether or not she or he has paid two years of installments, has three common legal remedies in the absence of a valid rescission, granted by Section 6 of R.A. It is established that a demand letter is not the same as the notice of cancellation or demand for rescission by a notarial act required by R.A. Q: Did Primo Properties rescind the contract to sell in accordance with the Maceda Law?Ī: No, Primo Properties only warned Nolly that it shall be constrained to rescind their oral contract. ![]()
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