The best way to insure yourself is by not handing over possession of the property until you have been paid. There is a very convenient mechanism for the seller that can be agreed upon in the contracts: (i) I receive an advance payment; (ii) we agree on a conventional penalty; (iii) if the buyer fails to pay any of the agreed monthly payments, the seller notifies the buyer of his desire to withdraw from the transaction, and returns to him the difference between what he has paid and the conventional penalty. Without the need for a trial.
Of course, the aforementioned is possible if possession has not been handed over. If possession has already been transferred and you intend to dissolve the transaction, you will undoubtedly need a lawsuit to recover possession.
If you are going to sell in installments and you cannot keep the possession, at least reserve “the domain” of the property. In other words, “sell with reservation of title”. In this way the buyer will not be able to sell the property, give it in guarantee or similar, until he has finished paying you. But of course, in order to recover possession in case of non-payment, you will have to start the respective lawsuit. Even if you have sold with reservation of title.
The above protection mechanisms were advised under the assumption that in case of non-payment, you want to undo the transaction. It is a general principle that the party affected by a breach has 2 options: to undo the transaction, or to demand the enforcement. The 2 options provide the affected party with the right to demand the conventional penalty that has been agreed upon as well as damages.
If the selling party has in mind to demand payment in case of breach (and not to undo the operation), it should consider mechanisms such as: promissory notes, joint obligors, or receive in guarantee some other asset (different from the property that was sold, of course).
