Philippines  |  Real Estate Law

Legal Question

Asked on: 8/08/13, 10:40 am

i have this problem , i signed an offer to buy indicating "as is where is" , but since then i didn't receive any copy, i already gave 75% downpayment and deposited the balance to their bank ready to transfer , but after 3 months i discovered that there's no title in the said R.D , it was burnt and needs t0 be reconstituted, so i went back to the bank and told them what i discovered and they promise me that within a month they can produce the title. Unfortunately its been almost four years and they cant produce the title. I told them that i am backing out and that i am no longer interested. They told me i need to pay the balance as indicated in the offer to buy. told them i will not pay the balance until they have the reconstituted title. PLease i need your advise. thanks

1 Answer

Answered on: 8/10/13, 9:29 am by VOLTAIRE T. DUANO

Yes, until they can issue the title you have the right to withhold payment.

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VOLTAIRE T. DUANO LAW OFFICE 9th Floor Suit 9N Future Point Plaza 3 No. 111 Panay Avenue, South Triangle, Que Quezon City, 1103

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