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Hello Atty.
Mama bought this house to my aunt for 1.2 million 5 yrs ago. I have seen they have contract to sell but unnotarized but with their signatures agreeing that mama will pay her the balance only if the lot that mama owns in another place will be sold, it doesnt say when exactly to fully pay aunt. So when mama was sick she sold the lot to my bo-in-law, and bro-in-law is paying directly to aunt instead of paying to mama. First payment on their receipt was P600thousand, 2nd payment was P150thou which was paid by bro--in-law to aunt. (mama is dead now)
So there is a balance left that is 450thou. My aunt told bro-in-law that she wants to have interest her reason is that if mama paid her soon, aunt would have gained interest in the bank.
The title of this house isnt in my aunt's name yet but to the name of the original owner of the house. So, atty, is my aunt right to demand an interest? my bro-in-law cant pay her full yet, he said he might give up the lot he bought for mama because aunt is asking for interests and is too much. 5 yrs interests for 450,000 is too much+ the 450thou balance to be paid.
What can we do atty? aunt said if bro-in-law cant pay in full in a month, she will let us vacate this house and she will give back the money that was paid to her.
But theres no agreement bet. mama and aunt that mama pays the interest too.
PLS HELP. THANKS A LOT
Mama bought this house to my aunt for 1.2 million 5 yrs ago. I have seen they have contract to sell but unnotarized but with their signatures agreeing that mama will pay her the balance only if the lot that mama owns in another place will be sold, it doesnt say when exactly to fully pay aunt. So when mama was sick she sold the lot to my bo-in-law, and bro-in-law is paying directly to aunt instead of paying to mama. First payment on their receipt was P600thousand, 2nd payment was P150thou which was paid by bro--in-law to aunt. (mama is dead now)
So there is a balance left that is 450thou. My aunt told bro-in-law that she wants to have interest her reason is that if mama paid her soon, aunt would have gained interest in the bank.
The title of this house isnt in my aunt's name yet but to the name of the original owner of the house. So, atty, is my aunt right to demand an interest? my bro-in-law cant pay her full yet, he said he might give up the lot he bought for mama because aunt is asking for interests and is too much. 5 yrs interests for 450,000 is too much+ the 450thou balance to be paid.
What can we do atty? aunt said if bro-in-law cant pay in full in a month, she will let us vacate this house and she will give back the money that was paid to her.
But theres no agreement bet. mama and aunt that mama pays the interest too.
PLS HELP. THANKS A LOT
