Bill Type
Congress Name
Long Title
AN ACT REQUIRING THAT THE ADVANCE DEPOSIT FOR RENT BE PUT IN ESCROW IN ANY BANK IN THE NAME OF THE LESSEE, AMENDING FOR THE PURPOSE BATAS PAMBANSA BILANG 877, AS AMENDED
Date filed
February 1, 1999
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB06552 | |
| FULL TITLE : AN ACT REQUIRING THAT THE ADVANCE DEPOSIT FOR RENT BE PUT IN ESCROW IN ANY BANK IN THE NAME OF THE LESSEE, AMENDING FOR THE PURPOSE BATAS PAMBANSA BILANG 877, AS AMENDED | |
| ABSTRACT : Rationale: By requiring the deposit in escrow, both the lessor and the lessee would be benefited - the lessor gets security for the investment made, the lessee is entitled to interest which could augment the principal deposit as payment of missed-out rental. | |
| PRINCIPAL AUTHOR/S : GONZALES, RODOLFO F. | |
| DATE FILED : 1999-02-01 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS : | |
| 1. | 2. |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON REVISION OF LAWS ON 1999-02-08 |
Abstract
Rationale: By requiring the deposit in escrow, both the lessor and the lessee would be benefited - the lessor gets security for the investment made, the lessee is entitled to interest which could augment the principal deposit as payment of missed-out rental.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.