we bought a house and lot in a subdivision and has moved in upon completion of the 30% equity. the balance shall be paid thru Pag-ibig financing. However, we found out that the titles have some encumbrances. In a meeting with the developer we both agreed that he will not collect any payment until he cleared the title of any defects. After more than two years, he claimed that the title is now clean and that we should apply now for Pag-ibig financing. We also found out he has no license to sell. The license he used then was for a different corporation since several developers has come before him. The developer said the he is still processing the new license to sell. The individual titles are under his personal name and not in the name of the corporation. There was no development in the subdivision, not even a main road and posts. We the homeowners ourselves personally bought wires for electricity and paid for contractor to install meralco lines. Our water lines were also made possible thru the efforts of homeowners. There was not a single facility or amenities. Pending application with Pag-Ibig can he require us to pay the monthly installment now as if we are under in-house financing? It would seem he would make it appear that we were purchasing a residential unit from an individual person because the property is under his name and not with the company so it will not require license to sell which he has none at this time. What communal action should we, as homeowners do? Thank you.
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