Is there any interest(%) limit para sa lupang sinanla?

Kezia Artiaga
is in United States

Meron po bang certain law sa Philippines para sa tamang monthly interest ng pagsanla ng lupa? Salamat po! 

 

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Jescelyn Del Rosario
is a Legal expert in the Philippines
Under Art. 2209 of the Civil Code. If the obligation consists in the payment of a sum of money, and the debtor incurs in delay, the indemnity for damages, there being no stipulation to the contrary, shall be the payment of the interest agreed upon, and in the absence of stipulation, the legal interest, which is six per cent per annum.
Ibig sabihin po if kayo po ay nagkasundo as to how much ang interest na ipapatong sa loan yan ang mag apply dahil the contract that both of you entered will become a law between the parties. However, if wala kayong napag usapan sa interest po ang legal interest ang mag apply which is 6% per annum.

About the author

Jescelyn Del Rosario

Legal Services and Litigation works Philippine/Foreign Paralegal Works Graduated AB Political Science and Bachelor of Laws at University of San Jose Recoletos-Cebu Completed Lawyers Trial Academy Training sponsored by IBP Cebu Chapter AIT-DOST Scholar at Cebu Institute of Technology
Profession: Lawyer
MJ Del Rosario Law Office and Associates
Office Address: Block 19, lot 26-27, Deca Homes, Talisay
Philippines , Talisay , Cebu
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