Deed Of Absolute Sale Of Real Property

Deed Of Absolute Sale Of Real Property Template for Philippines

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Key Requirements PROMPT example:

"I need a Deed of Absolute Sale of Real Property for the sale of a commercial property in Makati City, Philippines, between my corporation as seller and a foreign company as buyer, with a closing date of March 15, 2025, including provisions for existing tenant agreements and foreign ownership compliance."

Document background

The Deed of Absolute Sale of Real Property is a crucial legal instrument in Philippine property law, used to document and effectuate the complete and unconditional transfer of real property ownership. This document is required whenever there is a final and absolute sale of real property in the Philippines, whether for residential, commercial, or industrial purposes. It must comply with the requirements of the Civil Code of the Philippines, the Property Registration Decree, and various tax regulations. The deed includes comprehensive details about the property, parties, consideration, and terms of sale, and must be notarized to be valid. It serves as the basis for transferring the property's title at the Register of Deeds and is essential for tax declarations and other government registrations.

Suggested Sections

1. Parties: Identifies and provides complete details of the Vendor/Seller and Purchaser/Buyer, including their civil status, citizenship, and addresses

2. Background: Establishes the Vendor's ownership of the property and authority to sell

3. Definitions: Defines key terms used throughout the deed

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

5. Consideration: States the purchase price and terms of payment

6. Warranties of the Vendor: Vendor's warranties regarding property ownership, absence of liens/encumbrances, and authority to sell

7. Transfer of Title and Ownership: Clear statement of absolute transfer of rights and title to the property

8. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other expenses

9. Possession: Terms for the delivery of possession of the property

10. Registration and Title Transfer: Process and responsibilities for registering the deed and transferring the title

11. Governing Law: Specifies Philippine law as governing law

12. Execution: Formal execution clause and notarization requirements

Optional Sections

1. Spousal Consent: Required when the seller is married, containing spouse's consent to the sale

2. Broker's Clause: Include when a broker was involved in the transaction, detailing broker's commission

3. Special Power of Attorney: Required when either party is acting through an attorney-in-fact

4. Existing Tenancy: Include when the property is subject to existing lease or tenancy arrangements

5. Foreign Ownership Compliance: Required when the buyer is a foreign national or entity, confirming compliance with foreign ownership restrictions

6. Mortgage Release: Include when the property is being sold free from an existing mortgage

7. Installment Terms: Required when the purchase price is to be paid in installments

8. Conditions Precedent: Include when there are specific conditions that must be met before closing

Suggested Schedules

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

2. Title Documents: Copy of the Transfer Certificate of Title or Original Certificate of Title

3. Tax Declarations: Current tax declarations and tax clearances

4. Power of Attorney: If applicable, the special power of attorney authorizing representation

5. Payment Schedule: If applicable, detailed schedule of installment payments

6. Property Survey: Recent property survey plan approved by the proper government agency

7. Real Estate Tax Receipts: Proof of payment of real estate taxes

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Banking and Finance

Construction

Agriculture (for agricultural land)

Commercial Property

Residential Property

Industrial Property

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Corporate Affairs

Documentation

Finance

Risk Management

Operations

Administrative

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Corporate Lawyer

Legal Counsel

Conveyancing Officer

Property Developer

Real Estate Agent

Title Officer

Compliance Officer

Real Estate Transaction Manager

Property Acquisition Manager

Legal Assistant

Notary Public

Land Registration Officer

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Deed Of Sale Land Rights

A legal document under Philippine law that transfers land ownership rights from seller to buyer, requiring notarization and registration with the Register of Deeds.

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Let's create your Deed Of Absolute Sale Of Real Property

Authors

Alex Denne

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