Deed Of Sale Transfer Of Rights Ownership And Obligations

Deed Of Sale Transfer Of Rights Ownership And Obligations Template for Philippines

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Key Requirements PROMPT example:

"I need a Deed of Sale Transfer of Rights Ownership and Obligations for my commercial property in Manila's Makati district, to be transferred to ABC Corporation by March 2025, with specific provisions for the existing mortgage that the buyer will assume."

Document background

The Deed of Sale Transfer of Rights, Ownership and Obligations is a crucial legal instrument in Philippine property law, used when transferring complete ownership and associated rights of property from one party to another. This document is essential in situations where not only the property ownership is being transferred, but also when there are specific rights, obligations, or responsibilities that need to be formally transferred to the new owner. It is commonly used in complex property transactions, corporate asset transfers, and situations involving ongoing obligations or encumbrances. The document must comply with Philippine legal requirements, including those set forth in the Civil Code of the Philippines, Property Registration Decree, and local government regulations. It serves as definitive evidence of the transfer and is required for property registration and tax purposes.

Suggested Sections

1. Parties: Identification of the Seller and Buyer with complete names, civil status, citizenship, and addresses as required by Philippine law

2. Background: Recitals establishing the Seller's ownership, property background, and intention to sell

3. Definitions: Key terms used throughout the deed, including Property, Rights, Obligations, and other relevant definitions

4. Property Description: Detailed description of the property being sold, including lot number, title details, boundaries, and technical description as per land title

5. Consideration: Purchase price, payment terms, and acknowledgment of receipt

6. Transfer of Ownership: Express provision transferring all rights, title, and interest from Seller to Buyer

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

8. Transfer of Obligations: Specification of any existing obligations being transferred to the Buyer

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

10. Delivery and Possession: Terms for physical possession transfer and delivery of relevant documents

11. Governing Law: Specification of Philippine law as governing law

12. Execution: Formal execution clause meeting Philippine notarial requirements

Optional Sections

1. Mortgages and Encumbrances: Required if there are existing mortgages or encumbrances being assumed by the Buyer

2. Consent of Spouse: Required if the Seller is married, per Philippine family code requirements

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

4. Broker's Commission: Required if a broker was involved in the transaction

5. Existing Tenancies: Required if the property has existing tenants or lease agreements

6. Environmental Matters: Required for properties with environmental compliance requirements

7. Subdivision Restrictions: Required for properties within subdivisions or planned developments

Suggested Schedules

1. Schedule 1 - Property Documents: List of all title documents, tax declarations, and property certificates

2. Schedule 2 - Technical Description: Detailed technical description of the property as per survey and title

3. Schedule 3 - Payment Schedule: If payment is in installments, detailed payment terms and dates

4. Schedule 4 - Existing Contracts: List of contracts, leases, or agreements affecting the property

5. Schedule 5 - Outstanding Obligations: Detailed list of obligations being transferred to the Buyer

6. Appendix A - Property Photos: Recent photographs of the property

7. Appendix B - Tax Certificates: Current real property tax certificates and clearances

8. Appendix C - Special Powers of Attorney: If applicable, POAs for representatives of either party

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

Banking and Finance

Construction

Agriculture

Commercial Property

Industrial

Residential Property

Retail

Hospitality

Manufacturing

Energy and Resources

Infrastructure

Relevant Teams

Legal

Real Estate

Compliance

Corporate Secretarial

Property Management

Asset Management

Operations

Finance

Risk Management

Documentation

Relevant Roles

Real Estate Lawyer

Property Manager

Corporate Lawyer

Legal Counsel

Real Estate Broker

Compliance Officer

Title Officer

Property Developer

Real Estate Manager

Asset Manager

Corporate Secretary

Transaction Manager

Due Diligence Officer

Legal Assistant

Conveyancing Lawyer

Find the exact document you need

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 Sale Transfer Of Rights Ownership And Obligations

Authors

Alex Denne

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