Maceda Law ("Realty Installment Buyer Act")
PLEASE SPREAD THIS MESSAGE TO OTHERS.
This law helps those wanting to get rid of their condominium unit. I was just told that a new condominium building nearby with fewer problems for now has many units up for sale after its recent turnover last year. I wondered what the reasons were and was told by a broker that many living abroad want to get rid of their units since they do no see the Philippines getting any better and they see the investment declining. Yes, and now they cannot all sell their units for what they paid.
So best for many to look into the Maceda Law as compared to reselling to see which option is best. Here are a couple of websites, so please search for more information.
http://www.lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html
http://archive.sunstar.com.ph/baguio/opinion/2014/09/28/capili-realty-installment-buyers-rights-368038
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