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Land lessee fails to pay $245,772 in 20 years
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Posted on Dec 14 2008
An investor who leased 13,983 square meters of private land on Saipan since the late ’80s has allegedly failed to pay the balance of $245,772 for 20 years now and has abandoned the lot, forcing its owner to go to court to regain control of his property.
Juan A. Augustin asked the Superior Court to terminate his lease agreement with Sung T. Park that was entered on Nov. 1, 1988.
Augustin, through counsel Vincent DLG. Torres, asked the court to clear the title of his land and terminate all the rights and interests Park has or may have on the lot.
Torres stated in the complaint that on Nov. 21, 1988, Augustin leased his property to Park under a 55-year lease agreement.
The lawyer said that under the agreement, Park shall pay the plaintiff $248,772, plus $300 monthly rental payment. The monthly rental payments were to increase by $30 every 10th year anniversary of the lease, according to the agreement.
Torres said that, upon signing the agreement, Park gave Augustin about $3,000 and promised to pay the balance of $245,772 after that.
Park, however, has not done so, Torres said—including payment of the monthly $300—up until today, which is now more than 20 years.
In addition, the lawyer pointed out, the respondent has not developed or improved the lot since the date of the agreement.
Park abandoned the lot since the date of the agreement, Torres said.
“Respondent has never communicated with petitioner regarding the lease agreement, his rental payments or for any matter since the signing date of the agreement up until the filing date of this petition,” Torres added.
