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The Real Estate Buy Sell Agreement is a fundamental legal instrument used in Philippine property transactions to document and formalize the transfer of real property ownership. This document is essential when any real estate property is being sold in the Philippines, whether residential, commercial, or agricultural land. It must comply with various Philippine laws including the Civil Code, the Property Registration Decree (PD 1529), and the Real Estate Service Act (RESA). The agreement typically includes detailed property descriptions, price and payment terms, conditions precedent to closing, warranties, and specific provisions required by Philippine law. It serves as the primary reference document for property registration, tax declarations, and future ownership disputes. The document is particularly important given the strict formalities required in Philippine real estate transactions and the need to protect both buyers' and sellers' interests in high-value property transfers.

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

2. Background: Context of the transaction, including brief property description and parties' intention to enter into a sale

3. Definitions: Key terms used throughout the agreement, including technical and legal terms specific to Philippine real estate law

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

5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments

6. Mode of Payment: Specific details on how payments will be made, including bank details and acceptable payment methods

7. Conditions of Sale: Essential conditions that must be met for the sale to proceed

8. Representations and Warranties: Declarations by both parties, especially the Seller's warranty of ownership and authority to sell

9. Taxes and Expenses: Allocation of tax responsibilities and transaction costs between parties

10. Title Transfer and Registration: Process and timeline for transferring title to the Buyer

11. Possession: Terms and timing of transfer of physical possession of the property

12. Default and Remedies: Consequences of breach and available remedies to either party

13. Governing Law: Specification of Philippine law as governing law and relevant jurisdictions

14. Execution: Signature blocks with required notarization provisions