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Owner To Owner House Sale Contract

Owner To Owner House Sale Contract Template for Philippines

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Key Requirements PROMPT example:

Owner To Owner House Sale Contract

"I need an Owner To Owner House Sale Contract for a property in Manila, Philippines, with payment to be made in three installments, the first being due on March 15, 2025, and including specific provisions for the existing tenant's rights until their lease expires in June 2025."

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Document background
The Owner To Owner House Sale Contract is a crucial legal document used in the Philippine real estate market for direct property transfers between private individuals. This document is essential when property owners wish to sell their residential property directly to buyers without developer or corporate intermediaries. It must comply with Philippine legal requirements, including the Civil Code (Republic Act No. 386), Property Registration Decree (PD 1529), and local government regulations. The contract typically includes detailed property descriptions, purchase terms, payment schedules, warranties, and closing requirements. It's particularly important in protecting both parties' interests by clearly documenting all aspects of the transaction, from initial agreement through to property registration transfer. The document should be notarized to ensure its enforceability and facilitate registration with the Register of Deeds.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with complete legal names and addresses

2. Background: Brief context of the sale, including property ownership history and intention to sell/purchase

3. Definitions: Key terms used throughout the contract including Property, Purchase Price, Closing Date, etc.

4. Property Details: Complete description of the property including lot area, floor area, boundaries, and TCT/CCT number

5. Purchase Price: Total consideration and payment terms including method and schedule of payments

6. Conditions Precedent: Requirements that must be met before the sale can proceed, including title clearance and permits

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

8. Closing Requirements: Documents and actions required to complete the transfer of ownership

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

10. Default and Remedies: Consequences and available remedies in case of breach by either party

11. Governing Law: Specification of Philippine law as governing law and jurisdiction details

12. Execution: Signature blocks and notarial requirements

Optional Sections

1. Broker Provisions: Include when real estate brokers are involved in the transaction, detailing their roles and commissions

2. Financing Contingency: Include when the purchase is contingent on buyer obtaining mortgage financing

3. Property Inspection: Include when buyer requires a due diligence period for property inspection

4. Occupancy Terms: Include when there are existing tenants or specific move-in/move-out arrangements

5. Fixtures and Inclusions: Include when specific items of personal property are included/excluded from the sale

6. Construction Warranties: Include for newly constructed properties with ongoing builder warranties

7. Subdivision Restrictions: Include when property is part of a subdivision with specific regulations

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including lot plans and boundaries

2. Payment Schedule: Detailed breakdown of payment terms and installment dates if applicable

3. Title Documents: Copies of TCT/CCT and other relevant property documents

4. Tax Clearance Certificates: Current real property tax clearances and tax declarations

5. Property Inspection Report: If applicable, detailed report of property condition and any agreed repairs

6. Permits and Certificates: Relevant building permits, occupancy permits, and local government clearances

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 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

Banking and Finance

Legal Services

Construction

Property Development

Insurance

Local Government

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Document Management

Finance

Risk Management

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Legal Counsel

Conveyancing Officer

Property Assessor

Mortgage Officer

Title Officer

Real Estate Agent

Property Developer

Compliance Officer

Legal Assistant

Document Controller

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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