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Deed Of Sale Condominium

Deed Of Sale Condominium Template for Philippines

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Key Requirements PROMPT example:

Deed Of Sale Condominium

"I need a Deed of Sale Condominium for a cash purchase of a 2-bedroom unit in Manila, Philippines, with the transfer to be completed by March 2025; the document should include provisions for the included parking space and appliances."

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Document background
The Deed of Sale Condominium is a crucial legal instrument in Philippine real estate transactions, used specifically for transferring ownership rights of condominium units. This document type is essential when selling or purchasing condominium properties in the Philippines, whether for residential or commercial purposes. It must comply with the requirements set forth in the Condominium Act (RA 4726), the Civil Code of the Philippines, and other relevant property laws. The deed includes comprehensive details about the property, parties involved, purchase price, payment terms, and conditions of sale. It requires notarization and proper registration with the Registry of Deeds to be legally effective. This document is particularly important in urban areas where condominium living is prevalent, and it protects both buyers' and sellers' interests by clearly documenting the terms of the property transfer.
Suggested Sections

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal capacity to enter into the contract

2. Background: States the Seller's ownership of the condominium unit and intention to sell, including the property's current status

3. Definitions: Defines key terms used throughout the deed, including property-specific and legal terminology

4. Property Description: Detailed description of the condominium unit, including unit number, floor area, boundaries, and parking (if any)

5. Purchase Price: States the total purchase price and terms of payment, including any deposit or installment arrangements

6. Mode of Payment: Specifies how and when payments will be made, including bank details and payment schedule

7. Transfer of Title: Details the process and timing of transferring the property title to the Buyer

8. Representations and Warranties: Seller's guarantees regarding ownership, absence of liens, and property condition

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

10. Possession: Terms for turning over physical possession of the property to the Buyer

11. Execution: Formal signing section with notarization requirements

Optional Sections

1. Financing Provisions: Required when purchase involves bank financing or installment payments, including Maceda Law provisions

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

3. Due Diligence Period: When Buyer requires time to conduct property inspection or title review

4. Existing Tenancy: Include if the unit is currently leased and arrangements for lease termination or continuation

5. Parking Space: Required when the sale includes a parking slot or space

6. Renovation Agreement: Include if there are pre-agreed modifications to be made before or after the sale

7. Association Membership: When transfer of condominium association membership needs specific provisions

Suggested Schedules

1. Schedule A - Property Details: Comprehensive technical description of the unit, including floor plan and boundaries

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

3. Schedule C - Unit Inclusions: List of fixtures, fittings, and appliances included in the sale

4. Schedule D - Condominium Documents: Copies of relevant condominium corporation documents and certificates

5. Schedule E - Title Documents: Copy of Condominium Certificate of Title and other relevant title documents

6. Appendix 1 - Property Photos: Current photographs of the unit and common areas

7. Appendix 2 - Tax Clearances: Copies of tax clearances and receipts proving payment of relevant 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













































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Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Construction

Property Management

Insurance

Investment

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Operations

Documentation

Business Development

Asset Management

Customer Relations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Legal Counsel

Compliance Officer

Property Developer

Sales Director

Real Estate Agent

Title Officer

Conveyancing Lawyer

Property Administrator

Real Estate Manager

Transaction Coordinator

Legal Administrator

Building 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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