Professional Documents
Culture Documents
Commonly known as the Maceda Law. It is embodied in R.A. 6552 which provides for certain protection to particular buyers of real estate payable on installments. The law declares as "public policy to protect buyers of real estate on installment payments against onerous and oppressive conditions. Note: The purpose of the law is to protect buyers in installment against oppressive conditions.
c. 30 days notice before final cancellation Note: buyer can still pay w/in the 30 days period with interest.