Need advice of what to do of the lot we bought without proper documentation

Herbie

Herbie

Arresto Menor

Posts : 4
Join date : 25/03/2013

Hi Everyone,

We bought a lot from a family friend. the lot be bought is only a part of the whole lot area. we bought it since 2009 and still now we don't have a formal and signed documents.

The said lot area even doesn't have subdivision plan for way back 2009 they told us they are applying still for the subdivision plan.

Need your advise of what should we do coz it's been 4 years and we still don't have a document singed and notorized that we own the lot coz the owner keeps on telling us that it the subdivision of lots and transfer of title is still in progress.

Thank you.

rchrd

rchrd

moderator

Posts : 317
Join date : 26/05/2011

you can choose to file either 1)recission with damages or 2)specific performance with damages.

1)recission - you like to withdraw from the contract because of the failure of the other party to comply with what is incumbent upon him/her plus you are asking for payment of damages caused to you by the other party's failure.

2)specific performance - you like the other party to comply with what is incumbent upon him/her but because there was delay on his/her part, you are asking also for payment of the damages resulting from the delay.

Herbie

Herbie

Arresto Menor

Posts : 4
Join date : 25/03/2013

Hi Sir Richard,

Thanks for the reply. Appreciate it much! Follow up question Sir, regarding the damages payment is their a minimum and maximum amount i can get from them as payment?

Thank,

Herbie

rchrd

rchrd

moderator

Posts : 317
Join date : 26/05/2011

the damages will be awarded based only on what you can prove as reasonbaly caused by the defendant against you.

So your limitation will be if you lack sufficient proof that you suffered damages.

Herbie

Herbie

Arresto Menor

Posts : 4
Join date : 25/03/2013

We are planning Sir for the span of 4 years, we'll ask for an amount just like in a bank were our payment has to have an interest good for 4 years. So we'll ask them for a refund plus the interest good for 4 years coz we don't want to wait for more years for the legal and signed documents for the lot we purchased.

Would this be possible as I speak in a legal way? Please advise.

Thanks,

rchrd

rchrd

moderator

Posts : 317
Join date : 26/05/2011

Most likely, the court will award interest of 6% per annum

Herbie

Herbie

Arresto Menor

Posts : 4
Join date : 25/03/2013

Thank you so much for your time and advises Sir!

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Need advice of what to do of the lot we bought without proper documentation

1 Need advice of what to do of the lot we bought without proper documentation Mon Mar 25, 2013 12:09 pm

Herbie

2 Re: Need advice of what to do of the lot we bought without proper documentation Mon Mar 25, 2013 5:55 pm

rchrd

3 Re: Need advice of what to do of the lot we bought without proper documentation Mon Apr 01, 2013 9:32 am

Herbie

4 Re: Need advice of what to do of the lot we bought without proper documentation Mon Apr 01, 2013 12:31 pm

rchrd

5 Re: Need advice of what to do of the lot we bought without proper documentation Mon Apr 01, 2013 3:12 pm

Herbie

6 Re: Need advice of what to do of the lot we bought without proper documentation Mon Apr 01, 2013 4:53 pm

rchrd

7 Re: Need advice of what to do of the lot we bought without proper documentation Mon Apr 01, 2013 5:13 pm

Herbie

8 Re: Need advice of what to do of the lot we bought without proper documentation

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