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Deed Of Sale By Co Owners Of Undivided Property Template for Philippines

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Key Requirements PROMPT example:

Deed Of Sale By Co Owners Of Undivided Property

"I need a Deed of Sale by Co-Owners of Undivided Property for a residential property in Manila jointly owned by four siblings (equal shares) to be sold to a single buyer by March 2025, with the deed to include provisions for staggered payment terms."

Document background
The Deed of Sale by Co-Owners of Undivided Property is a crucial legal document used in the Philippines when multiple individuals who jointly own a property wish to sell their collective interest to a buyer. This document is particularly necessary in situations involving inherited properties, joint investments, or any circumstance where multiple parties have acquired shared ownership of real property. It must comply with Philippine property laws, including the Civil Code of the Philippines and the Property Registration Decree. The deed comprehensively details the rights being transferred, the respective shares of each co-owner, purchase price allocation, and includes necessary representations and warranties. It's essential for protecting all parties' interests and ensuring a legally valid transfer of property rights.
Suggested Sections

1. Parties: Identification of all co-owners as Vendors and the Purchaser(s), including their complete legal names, civil status, citizenship, and addresses

2. Background: Historical context of the co-ownership, including how the property came to be owned jointly and the current ownership shares of each co-owner

3. Definitions: Key terms used throughout the deed, including definition of the Property, Share/Portions, and other relevant terms

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

5. Ownership Declaration: Statement of current ownership shares and confirmation of co-owners' authority to sell

6. Consideration: Purchase price, payment terms, and allocation of proceeds among co-owners

7. Transfer of Rights: The actual conveyance of property rights from co-owners to purchaser

8. Representations and Warranties: Collective warranties by co-owners regarding property title, absence of liens, and authority to sell

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

10. Possession and Delivery: Terms for transferring physical possession of the property

11. Registration and Title Transfer: Process and responsibilities for transferring title to purchaser

12. Governing Law: Confirmation that the deed is governed by Philippine law

13. Execution: Formal signing requirements and notarization provisions

Optional Sections

1. Broker's Clause: Include when a broker is involved in the transaction, specifying commission arrangements

2. Mortgage Details: Include when the property has existing mortgages that need to be discharged

3. Special Power of Attorney: Include when any co-owner is represented by an attorney-in-fact

4. Spousal Consent: Include when any co-owner is married and spouse's consent is required

5. Installment Terms: Include when the purchase price is to be paid in installments

6. Construction Improvements: Include when there are existing structures or improvements with separate ownership arrangements

7. Tenant Rights: Include when the property has existing tenants with rights that need to be addressed

Suggested Schedules

1. Schedule A - Property Details: Detailed technical description of the property, including lot plans and boundaries

2. Schedule B - Co-Ownership Shares: Detailed breakdown of each co-owner's share in the property

3. Schedule C - Payment Schedule: If applicable, detailed payment terms and installment schedule

4. Schedule D - Powers of Attorney: Copies of any relevant powers of attorney

5. Schedule E - Title Documents: List of all relevant title documents and certificates

6. Appendix 1 - Property Tax Clearance: Current tax clearance certificates and receipts

7. Appendix 2 - Property Photos: Recent photographs of the property and improvements

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



































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Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Banking & Finance

Property Management

Urban Planning

Agriculture (for agricultural land)

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Corporate Secretariat

Risk Management

Documentation

Land Registration

Asset Management

Conveyancing

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Legal Counsel

Conveyancing Officer

Title Examiner

Real Estate Developer

Property Assessor

Notary Public

Land Registration Officer

Estate Administrator

Property Consultant

Legal Administrator

Corporate Secretary

Compliance Officer

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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