Mediation is negotiation

There is a stage in the litigation process called mediation.
It is the mandatory stage where parties come together and discuss ways to settle without getting into the merits of the case.
Today I attended mediation with my client whose two real properties had been sold at auction folowwing foreclosure.
We sued the bank to annul the foreclosure.
At mediation, my client raised possibilities at arriving at a mutually acceptable solution.
The possibility was for my cleint let go of one of the properties, and sort of re-structure to keep the other.
The lawyers of the bank were receptive.
From the bank's end, they get one of the properties, re-structure the loan so the client keeps the other property, and close the case.
Not a bad negotiation, I think

Maceda Law

A client was inquiring what rights she may have left after having defaulted in the monthly installments of her residential condominium unit. She said she has already paid more than P1.5-million in installments. She is asking whether she can still get back the installment payments she had already made.I think the Maceda Law comes into play to this query.Republic Act No. 6552 is a law that seeks to protect buyers of realty on installments.It is popularly known as the Maceda law, in attribution to its author.If one is a buyer of real estate, including residential condominium, on installments, the buyer may still retain certain rights even if he defaults in his payments.If the buyer has already paid at least two years installments, he has two rights under the Maceda law.First, he can continue paying the unpaid installments due without additional interest.He must pay within the grace period.The grace period is one month for every one year of installments paid.Second, his other option is he can get a cash surrender value, or refund of the installment payments made.He can get a refund of fifty percent of his total installment payments.The buyer can opt for the cash surrender value or refund if the contract is canceled.If the buyer has paid less than two years installment, his option is to continue paying the installments.The seller has to give the buyer a grace period within which to continue paying the installments due.The grace period is not less than sixty days.

Broker Tales

I will devote this blog to discussions on real estate.
In my law practice, it has become inevtiable that I immerse in real estate practice.
One day I decide to go to the next level, and took the examination for real estate brokers.
Its was due to the proddings of an uncle who focused his law practice in real estate.
Just today, I processed by broker's license with the Department of Trade.
This blog therefore, would be into law and real estate matters.