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Conditional Deed Of Sale Of Real Property Template for Philippines

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Key Requirements PROMPT example:

Conditional Deed Of Sale Of Real Property

"I need a Conditional Deed of Sale of Real Property for a residential property in Manila, with monthly installment payments over 24 months starting January 2025, including early payment options and default provisions."

Document background
The Conditional Deed of Sale of Real Property is a crucial document in Philippine real estate transactions where the full transfer of property ownership is contingent upon meeting specific conditions, most commonly the complete payment of the purchase price. This document type is essential when parties wish to formalize their property transaction while the buyer completes installment payments or fulfills other conditions. It provides legal protection for both parties by clearly defining their rights and obligations during the conditional period, including payment terms, property maintenance responsibilities, and the process for eventual transfer of title. The deed must comply with Philippine civil law, property registration requirements, and local government regulations. It's particularly useful in installment sales, developer-buyer arrangements, and other situations where immediate full payment and transfer of title is not feasible or desired.
Suggested Sections

1. Parties: Identification and details of the Vendor/Seller and Vendee/Buyer, including their legal capacity to enter into the contract

2. Background: Context of the transaction, including brief description of the property and the parties' intention to enter into a conditional sale

3. Definitions: Key terms used throughout the deed, including technical and legal terminology

4. Property Description: Detailed description of the real property, including lot number, location, boundaries, and title details

5. Purchase Price: Total consideration, payment terms, and schedule of payments

6. Conditions of Sale: Specific conditions that must be met before the sale becomes absolute, including payment terms and other prerequisites

7. Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and other material facts

8. Rights and Obligations: Detailed responsibilities of both parties during the conditional period

9. Default and Remedies: Consequences of breach and available remedies for both parties

10. Transfer of Title: Process and requirements for the eventual transfer of title upon fulfillment of conditions

11. Taxes and Expenses: Allocation of taxes, registration fees, and other transaction costs

12. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional provisions

13. Execution: Formal closing section with signature blocks and notarial acknowledgment

Optional Sections

1. Due Diligence: Used when specific property investigations or title searches are required before closing

2. Broker's Commission: Include when a real estate broker is involved in the transaction

3. Insurance: Required when specific insurance arrangements need to be maintained during the conditional period

4. Property Maintenance: Include when specific maintenance obligations during the conditional period need to be defined

5. Assignment: Used when rights to assign the contract need to be addressed

6. Force Majeure: Include when specific provisions for unforeseen circumstances affecting the property or transaction are needed

7. Mortgage Provisions: Required when the property is subject to existing mortgages or new financing arrangements

Suggested Schedules

1. Schedule A - Property Details: Technical description of the property, including lot plan, boundaries, and technical specifications

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

3. Schedule C - Title Documents: List of title documents and certified true copies of property ownership papers

4. Schedule D - Property Inspection Report: Results of property inspection and list of included fixtures and fittings

5. Schedule E - Tax Clearances: Copies of real property tax clearances and tax declarations

6. Appendix 1 - Special Power of Attorney: If applicable, authorization documents for representatives of either party

7. Appendix 2 - Corporate Documents: If applicable, corporate authorizations and board resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses






























Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Urban Planning

Agriculture (for agricultural land)

Commercial Property

Residential Property

Industrial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Affairs

Operations

Finance

Risk Management

Business Development

Asset Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Legal Counsel

Corporate Lawyer

Real Estate Developer

Compliance Officer

Title Examiner

Property Administrator

Real Estate Transaction Manager

Land Registration Officer

Notary Public

Real Estate Investment Manager

Property Acquisition Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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