Back

Realty Installment Buyer Protection Act (Maceda Law)

REALTY INSTALLMENT BUYER PROTECTION ACT AN ACT TO PROVIDE PROTECTION TO BUYERS OF REAL ESTATE ON INSTALLMENT PAYMENTS

R.A. No. 6552 | 1972-08-26

REPUBLIC ACT NO. 6552

Sec. 1. This Act shall be known as the “Realty Installment Buyer Act.

Sec. 2. It is hereby declared a public policy to protect buyers of real estate on installment payments against onerous and oppressive conditions.

Sec. 3. In all transactions or contracts involving the sale or financing of real estate on installment payments, including residential condominium apartments but excluding industrial lots, commercial buildings and sales to tenants under Republic Act Numbered Thirty-eight hundred forty-four, as amended by Republic Act Numbered Sixty-three hundred eighty-nine, where the buyer has paid at least two years of...