Rent-to-own Condo

Hi! I would like to ask if there is a law regarding rent-to-own condo units.

We are having issues with the turn over since we are being charged on a monthly basis (PDCs issued to the developer) without using or occupying the unit yet, considering that it is rent-to-own and RFO unit. According to them, monthly rental is considered as downpayment din kaya we are charged kahit hindi pa binibigay sa amin ang unit.

We want to back out and want to take back the monthly rental payments plus downpayment issued to the developer. Wala pa po sa amin ang copy namin ng contract but I have kept a photocopy of it.

Ano po ang pwede naming gawin? Maraming salamat po.

Ang alam ko is yung maceda law which protects buyers of condos and subdis thru installment. It provides for a refund in case you default and after the seller cancels the sale. Buyers are entitled to 50% refund if he has paid monthly for 2 years or more.

Better consult HLURB