Page 389 - Important Provisions of The New Civil Code

Article 1606. The right referred to in Article

1601, in the absence of an express agreement,

shall last four years from the date of the

contract.

Should there be an agreement, the period

cannot exceed ten years.

However, the vendor may still exercise the right

to repurchase within thirty days from the time

final judgment was rendered in a civil action on

the basis that the contract was a true sale with

right to repurchase. (1508a)

Article 1607. In case of real property, the

consolidation of ownership in the vendee by

virtue of the failure of the vendor to comply

with the provisions of Article 1616 shall not be

recorded in the Registry of Property without a

judicial order, after the vendor has been duly

heard. (n)