Dear Atty, Pinapirma po ang tatay at nanay ko ng open deed of sale sa aming titulado na lupa nuong nanghiram sila ng pera at napakataas po ng interest 10% per month. Sabi po nung nag-pahiram na kap…
Pinapirma po ang tatay at nanay ko ng open deed of sale sa aming titulado na lupa nuong nanghiram sila ng pera at napakataas po ng interest 10% per month. Sabi po nung nag-pahiram na kapag di mabayaran sa due date ay kanila na ang lupa gamit ang open deed of sale. Valid po ba to? May mga remedy po ba kami?The transaction entered by your parents is quite precarious and they may be possibly victims of a land grabbing modus known as the “open deed of sale scheme”.
While pactum commissorium is null and void, it does not mean that the loan obligation is already extinguished. The loan agreement still exists, and your parents must still pay the principal loan. For your remedy, if the loan obligation is still existing, which means that the title has not yet been transferred to creditor through the open deed of sale, your parents can file a case in court for reformation of contract so that the true intention of the parties will be expressed – which in your case, is a loan and mortgage agreement.
The Highest Court ruled in ARTURO A. DACQUEL versus SPOUSES ERNESTO SOTELO ET. AL. G.R. No. 203946, August 4, 2021:
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