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The Residential Real Estate Sale Agreement is a crucial legal instrument used in the Philippines for transferring ownership of residential properties. This document is essential when selling or purchasing houses, condominiums, or other residential units, ensuring compliance with Philippine property laws and regulations. It incorporates mandatory provisions from the Civil Code of the Philippines, Presidential Decree No. 957 (Subdivision and Condominium Buyers' Protective Decree), and the Maceda Law (RA 6552), among others. The agreement typically includes detailed property descriptions, payment terms, warranties, and closing requirements, while addressing specific Philippine requirements such as spouse consent for married sellers and foreign ownership restrictions. It serves as the primary contract document that protects both buyers' and sellers' interests throughout the property transfer process.

1. Parties: Identification of the Seller and Buyer with complete details as required by Philippine law, including civil status which is crucial for property transactions

2. Background: Context of the sale and brief description of the property being sold

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

4. Property Details: Comprehensive description of the property including lot number, street address, technical description, and TCT/CCT number

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

6. Terms of Payment: Detailed payment structure, including provisions for installment payments if applicable, in compliance with the Maceda Law

7. Representations and Warranties: Seller's warranties regarding ownership, absence of liens, and property condition; Buyer's warranties regarding financial capacity

8. Conditions Precedent: Requirements to be fulfilled before closing, including documentary requirements and government clearances

9. Closing and Transfer of Title: Process and timeline for executing the deed of absolute sale and transferring title

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

11. Default and Remedies: Consequences of default by either party and available legal remedies

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

13. Notices: Process for sending formal communications between parties

14. General Provisions: Standard clauses including severability, entire agreement, and amendment procedures