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I am contemplating on what protects me, the seller, better between the two. deed of conditional sale or contract to sell.
1. Is it correct that in the deed of conditional sale, the buyer has all the legal rights to the property (house) upon complete payment of initial amount? and a deed of absolute sale is no longer required? what if the buyer defaults on the payment, like after the stipulated time the payment has not been made fully and I demand for the return of the property so i can at least lease/sell it to another do i return all the money or can I charge for loss of opportunity?
2. The case being, if the amount to be refunded is not stipulated in the contract, what does the law say about it?
1. Is it correct that in the deed of conditional sale, the buyer has all the legal rights to the property (house) upon complete payment of initial amount? and a deed of absolute sale is no longer required? what if the buyer defaults on the payment, like after the stipulated time the payment has not been made fully and I demand for the return of the property so i can at least lease/sell it to another do i return all the money or can I charge for loss of opportunity?
2. The case being, if the amount to be refunded is not stipulated in the contract, what does the law say about it?
