Bill Type
Congress Name
Long Title
AN ACT AMENDING REPUBLIC ACT NO. 6552, OTHERWISE KNOWN AS THE REALTY INSTALLMENT BUYER ACT, AND FOR OTHER PURPOSES
Date filed
November 16, 2005
Scope
Legislative History
| House Bill/Resolution NO. HB04903 |
| FULL TITLE : AN ACT AMENDING REPUBLIC ACT NO. 6552, OTHERWISE KNOWN AS THE REALTY INSTALLMENT BUYER ACT, AND FOR OTHER PURPOSES |
| ABSTRACT : The bill seeks to limit the applicability of RA 6552 (Maceda law) to individual buyers of residential real property only. It also proposes that penalty charges and interest on installment amortizations and certain taxes and expenses actually paid to third persons be deducted from the total payments made for purposes of determining the cash surrender value refundable to the buyer. |
| PRINCIPAL AUTHOR/S : ZIALCITA, EDUARDO C. |
| DATE FILED : 2005-11-16 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Codilla (032 ) |
| ACTIONS TAKEN BY THE COMMITTEE |
| COMMITEE HEARINGS/ACTIONS: |
| 1. Scheduled for first meeting/hearing on 2006-10-04 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON HOUSING AND URBAN DEVELOPMENT ON 2005-11-22 |
Abstract
The bill seeks to limit the applicability of RA 6552 (Maceda law) to individual buyers of residential real property only. It also proposes that penalty charges and interest on installment amortizations and certain taxes and expenses actually paid to third persons be deducted from the total payments made for purposes of determining the cash surrender value refundable to the buyer.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.