A critical question is whether the delinquent Pag-IBIG financing has an effect on the fresh legitimacy of deed off sales
- Consideration: The cost or any other forms of payment need to be specified and agreed upon.
Regarding the disease revealed, discover reference to an action from pure purchases carried out ranging from the fresh new debtor additionally the dry aunt of your borrower’s partner. The existence of it deed is vital just like the, in the event that good, it might imply a transfer regarding ownership liberties. However, numerous other variables need to be thought:
Fee off Price: In case your price decided from the action was not fully paid back, the seller could have factor in order to problem the brand new authenticity of the sales.
Subscription and Transfer out-of Name: Significantly less than Philippine legislation, this new mere execution regarding an action off product sales doesn’t instantly transfer ownership towards the customer. The new deed need to be registered into Registry out-of Deeds, and you may yet another term is provided in the client’s name. When your identity hasn’t been transported, the brand new courtroom control of the property stays into borrower (seller). So it holds true even if the consumer has had palms out of the house.
step three. Effectation of an outstanding Financing toward Legitimacy of one’s Selling
Fundamentally, the loan therefore the revenue try independent judge things. The mortgage agreement was within debtor and you can Pag-IBIG, because deals arrangement is actually between the debtor and inactive aunt. Although not, the latest delinquent financing can have significant outcomes for people:
Financial Foreclosure: In the event the Pag-IBIG mortgage remains unpaid, Pag-IBIG may initiate foreclosures legal proceeding payday loans online Utah. Continue reading →