Legal Question in Real Estate Law in Philippines

A couple signified their intention to buy my property but backed-out a few days before the settlement day. We have not executed a Contract to Sell or Deed of Sale yet but it's documented in exchange of emails and text messages. What are my legal rights to demand that we go through with the sale, if any?


Asked on 4/19/12, 2:56 am

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

A contract of sale is perfected by mere consent.This means that there is meeting of the minds as to the offer and acceptance of the thing and the cause which are to constitute the contract. In other words, the definite/certain offer to sell made by the seller was absolutely accepted by the buyer then the contract was perfected.

If the other party backed out then you can sue for specific performance with damages.

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Answered on 4/19/12, 3:20 am


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