Nakapirma po ako as Lessor with a foreigner for a 25 years lease term on our farm which started Nov2004.
Last due collection was on Oct2012 (notice letter served) at gusto nila hindi na magbayad. Reason: hindi natuloy projects nila sa farm and instead built their new plans in Subic (2buildings). On every collection for the past 8 years verbal assurance was given to us that their initial project will push through.
Wala pong nakalagay sa contract na option na pwede silang magback-out anytime they wish. Wala din po sa contract na pwede ako magdemand ng payment in case of a breach. It only states the extension of their lease upon completion of the 25 years. and that the lessor gives notice 1 year in advance in case of termination...not the lessee.
Ano po ang best remedy ko para hindi naman sudden/biglaan yung abolishment of contract? Can i still demand payment for 2013?
Your advice is greatly appreciated.
Thank you so much.