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Deed Of Sale For House

Deed Of Sale For House Template for Philippines

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Key Requirements PROMPT example:

Deed Of Sale For House

"I need a Deed of Sale for House for a cash purchase of a two-story residential property in Manila, Philippines, with the sale to be completed by March 15, 2025, and including special provisions for the existing tenant who will remain in the property for 3 months after the sale."

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Document background
The Deed of Sale For House is a crucial legal instrument in Philippine real estate transactions, used when transferring ownership of residential property. This document is essential for ensuring compliance with the Civil Code of the Philippines, the Property Registration Decree (PD 1529), and various local government regulations. It serves multiple purposes: documenting the transfer of ownership, specifying the terms and conditions of the sale, establishing the rights and obligations of both parties, and facilitating proper registration with relevant authorities. The deed must include specific elements required by Philippine law, such as the technical description of the property, purchase price, payment terms, and warranties. It's particularly important as it serves as the basis for transferring the title at the Registry of Deeds and is required for tax purposes, including capital gains tax and documentary stamp tax compliance.
Suggested Sections

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

2. Background: Establishes the context of the sale, including brief property history and current ownership status

3. Definitions: Defines key terms used throughout the deed

4. Property Description: Detailed description of the property including lot number, location, boundaries, and Technical Description as per title

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

6. Mode of Payment: Specifies how and when payments will be made

7. Warranties of the Seller: Seller's representations regarding property ownership, absence of liens, and authority to sell

8. Transfer of Title: Process and timing of transferring property title to the buyer

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

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

11. Governing Law: Specifies Philippine law as governing law and relevant jurisdiction

12. Execution: Formal closing section with signature blocks and notarization requirements

Optional Sections

1. Existing Tenancies: Required if the property has current tenants, specifying their rights and status post-sale

2. Mortgage Details: Required if the property has an existing mortgage or if the purchase is through bank financing

3. Installment Terms: Required if the purchase is through installment payments, including Maceda Law provisions

4. Property Insurance: Optional section detailing insurance requirements and responsibilities

5. Due Diligence Period: Optional section allowing buyer inspection and verification period

6. Broker's Commission: Required if a broker is involved in the transaction

7. Force Majeure: Optional section covering unforeseeable circumstances that might affect the transaction

Suggested Schedules

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

2. Schedule B - Title Documents: List of all title documents and certified true copies

3. Schedule C - Payment Schedule: Detailed payment terms and schedule if involving installments

4. Schedule D - Included Fixtures and Fittings: Inventory of items included in the sale

5. Appendix 1 - Property Photos: Recent photographs of the property's exterior and interior

6. Appendix 2 - Tax Clearances: Copies of real property tax clearances and tax declarations

7. Appendix 3 - Power of Attorney: If applicable, authorization documents for representatives

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
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Relevant Industries

Real Estate

Banking and Finance

Legal Services

Property Development

Construction

Insurance

Property Management

Public Sector

Notarial Services

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Sales

Operations

Finance

Documentation

Risk Management

Customer Relations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Agent

Bank Manager

Mortgage Officer

Property Developer

Legal Counsel

Compliance Officer

Title Examiner

Real Estate Broker

Property Assessor

Notary Public

Land Registration Officer

Real Estate Administrator

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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