Legal Question in Consumer Law in Philippines

Hi LawGuru!

I am an OFW working here in Taiwan. My problem is that we mortgage a lot in a subdivision in Laguna 5 years ago, that was 2005 and was fully paid just last year but the title hasn't been given to us yet by the developer due to some reasons we don't know what. They always delay or make alibis when being asked about it. Just recently, news in the subdivision broke out that our subdivion has been pawned in a bank since 2001, and now, the bank is foreclosing it. We, the residents, who bought property in the subdivision didn't know about this until recently and we are given 3 mos. to move out! It's not fair! We already built a house and all our life's savings already went there, same with my neighbors and fellow homeowners. Is there something that we can do to get our titles or ownership of the property we bought? If we fight this case, is there a chance for us to win? Or at least a portion of what we paid for? What charges can we file against the developer besides Estafa?

Please, please help us. We don't have the means now to fight this case for I am about to go home now and all I've got already went to the house which i thought could be mine by now. Most of my neighbors already backed-out due to lack of finances to fund the legal counsels and attorneys' fees. I don't know what to do now. I just can't believe that all my hard-earned money will just go down the drain and we will go homeless in less than 3 months from now.

Please LawGuru help us. Thank you in advance.

From,

Lanie


Asked on 2/24/10, 7:41 pm

1 Answer from Attorneys
VOLTAIRE T. DUANO VOLTAIRE T. DUANO LAW OFFICE

You should take legal action as a class. In this way the legal expenses can be affordable. You have to conduct a research as to when the mortgage was constituted by the developer. If the mortgage was entered prior to selling the property in your favor and subsequent transfer of the tilte in your name then it affects your property.If you acquired ownership (meaning the property was fully paid and the title was transferred in your name) of the property prior to the mortgage then the sale is superior. You can initiate a complaint for cancellation of the sale and reimbursement of all you paid plus interest against the developer.

Read more
Answered on 2/27/10, 9:52 am


Related Questions & Answers

More Consumer Law questions and answers in Philippines