Text of the provision
Art. 1601. Conventional redemption shall take place when the vendor reserves the right to repurchase the thing sold, with the obligation to comply with the provisions of article 1616 and other stipulations which may have been agreed upon.
(1507)
Civil Code of the Philippines, Republic Act No. 386, approved June 18, 1949, effective August 30, 1950. Reproduced in full; verified verbatim against the LawPhil and ChanRobles renderings and the Official Gazette, all three of which agree word for word.
What this article means
Defines pacto de retro. Conventional redemption exists when the seller reserves the right to repurchase the thing sold, subject to the obligation to comply with Article 1616 (return of the price and the stated expenses) and with whatever else the parties agreed. It is the transaction the next article treats with suspicion.
Questions about this provision
- I sold my land and want a right to buy it back later. What must I do to reserve that right?
- We agreed in our pacto de retro that I have fifteen years to repurchase. Is that valid?
Related provisions
- Article 1546 — Express Warranty Versus Dealer's Talk.
- Article 1602 — When a Sale Is Really a Mortgage.
Cases interpreting this article
- Authorities on this article will be added here as each is verified against primary sources.