Document background
The As Is Where Is Basis Deed of Sale is a specialized property transfer document used in the Philippines when selling property without standard warranties or representations regarding its condition. This document type is particularly useful for transactions involving foreclosed properties, distressed assets, or situations where the seller wishes to limit their liability for the property's condition. It's commonly used by banks disposing of acquired assets, companies selling surplus properties, or individuals seeking quick property disposals. The deed must comply with Philippine property laws and Civil Code requirements while explicitly stating the 'as is where is' nature of the sale. It includes detailed property descriptions, clear acknowledgments from the buyer regarding the property's condition, and limited warranties from the seller primarily concerning title and ownership rights. This document type is especially relevant in the current Philippine real estate market where rapid property transactions and risk management are increasingly important.
