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Real Estate Swap Agreement
"I need a Real Estate Swap Agreement for exchanging a commercial office building in Makati with a retail complex in Cebu City, with completion targeted for March 2025, ensuring compliance with Philippine cross-regional property transfer requirements and including provisions for existing tenant agreements."
1. Parties: Identification of the parties exchanging properties, including complete legal names and addresses
2. Background: Context of the swap transaction and brief description of the properties to be exchanged
3. Definitions: Key terms used throughout the agreement, including property descriptions, completion date, and other relevant terminology
4. Exchange Terms: Detailed terms of the property exchange, including property descriptions, values, and any monetary adjustments
5. Conditions Precedent: Conditions that must be satisfied before the exchange can be completed, including title requirements and necessary approvals
6. Completion Process: Step-by-step procedure for executing the exchange, including timing and documentation requirements
7. Representations and Warranties: Statements of fact and guarantees by each party regarding their respective properties and authority to exchange
8. Tax and Costs: Allocation of taxes, registration fees, and other transaction costs between the parties
9. Risk and Insurance: Responsibility for property risks before and after completion, and insurance requirements
10. Default and Remedies: Consequences of breach and available remedies
11. General Provisions: Standard contract clauses including notices, amendments, governing law, and dispute resolution
1. Property Management During Transition: Include when there are ongoing leases or management contracts that need to be addressed
2. Foreign Ownership Compliance: Required when one or more parties are foreign entities, addressing compliance with Philippine foreign ownership restrictions
3. Mortgage and Encumbrance Handling: Include when either property has existing mortgages or encumbrances that need to be cleared or transferred
4. Environmental Compliance: Include for industrial or commercial properties where environmental issues may be relevant
5. Development Rights: Include when the properties have pending or approved development permits or zoning changes
6. Third Party Consents: Required when the exchange requires approval from other parties such as lessees, mortgagees, or regulatory bodies
1. Property Descriptions: Detailed legal descriptions, boundaries, and technical specifications of both properties
2. Title Documents: Copies of current titles, tax declarations, and other ownership documents
3. Property Valuations: Independent valuations or appraisals of both properties
4. Existing Encumbrances: List of all existing liens, mortgages, or other encumbrances on both properties
5. Due Diligence Results: Summary of technical, legal, and financial due diligence findings
6. Required Permits: List of all necessary permits and approvals for the exchange
7. Property Plans: Survey plans, building plans, and other relevant technical drawings
8. Completion Checklist: Detailed list of documents and actions required for completion
Authors
Real Estate Development
Commercial Real Estate
Residential Real Estate
Industrial Real Estate
Agricultural Real Estate
Mixed-Use Development
Retail Property
Office Property
Hospitality
Land Development
Legal
Real Estate
Compliance
Property Management
Asset Management
Investment
Operations
Business Development
Finance
Risk Management
Real Estate Manager
Property Development Director
Legal Counsel
Real Estate Broker
Property Appraiser
Asset Manager
Investment Manager
Real Estate Attorney
Property Portfolio Manager
Compliance Officer
Real Estate Transaction Manager
Development Manager
Real Estate Operations Director
Land Acquisition Manager
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