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The Letter of Cancellation of House Purchase is a crucial document in Philippine real estate transactions when a buyer needs to formally withdraw from a property purchase agreement. This document becomes necessary when circumstances prevent the completion of a house purchase, whether due to financing issues, property condition concerns, or other valid reasons recognized under Philippine law. The letter must comply with local legal requirements, including the Civil Code of the Philippines and the Maceda Law, which specifically protects buyers in real estate installment transactions. It typically includes detailed information about the property, reference to the original purchase agreement, grounds for cancellation, and provisions for the settlement of any payments or deposits made. This document serves as official notice and legal record of the cancellation, protecting both parties' interests and ensuring proper documentation of the transaction's termination.

1. Date and Address Block: Current date and complete contact details of both the seller and recipient

2. Subject Line: Clear indication that this is a cancellation notice for specific property purchase

3. Reference Details: Original purchase agreement details including date, property address, and any reference numbers

4. Formal Notice of Cancellation: Clear statement of intent to cancel the purchase agreement

5. Reason for Cancellation: Brief explanation of the grounds for cancellation

6. Financial Settlement Details: Information about deposits, payments made, and requested refunds as per Philippine law

7. Request for Acknowledgment: Request for written confirmation of the cancellation

8. Closing and Signature Block: Professional closing, name, and signature of the cancelling party