Document background
The Contract For Selling A House is a crucial legal document used in Philippine real estate transactions to formalize and document the transfer of residential property ownership. This contract type is essential for ensuring compliance with Philippine property laws, including the Civil Code, Property Registration Decree, and relevant local government regulations. It is typically used when a property owner wishes to sell their house to another party, whether for residential or investment purposes. The document includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and conditions for transfer. It must be properly executed and notarized to be legally binding under Philippine law, and often serves as the basis for the subsequent Deed of Absolute Sale when the transaction is completed.
