Civil Law and Land Titles and Deeds › Special Contracts › Sales › Installment Sales › Real Property (RA 6552)

iii. Rights Given to the Buyer on Installment

G. Maceda Law (R.A. No. 6552)

REALTY INSTALLMENT BUYER PROTECTION ACT or “MACEDA LAW”

To Inventory reserved properties;
To Annotate the reservable character (if registered immovables) in the Registry of Property within 90 days from acceptance by the reservista;
To Appraise the movables;
To Secure by means of mortgage:
The restitution of reserved movables not alienated by the reservista;
The indemnity for any deterioration of or damage to the property occasioned by the reservista’s fault or negligence, and
The payment of the value of such reserved movables as may have been alienated by the reservista onerously and gratuitously. (Dizon v. Galang, G.R. No. 23144)