Sell Land Contract

Sell Land Contract Template for Philippines

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Key Requirements PROMPT example:

"I need a Sell Land Contract for a residential plot in Manila, Philippines, where I'm selling my 500-square-meter property to an individual buyer for 15 million pesos, with closing scheduled for March 15, 2025."

Document background

The Sell Land Contract is a fundamental legal instrument in Philippine real estate transactions, essential for documenting and executing the transfer of land ownership. This document is used when a landowner (seller) agrees to transfer their property rights to another party (buyer) for an agreed consideration. It must comply with the Civil Code of the Philippines, the Property Registration Decree, and various local government regulations. The contract typically includes comprehensive property details, payment terms, warranties, and specific provisions required by Philippine law. It's particularly important as land ownership in the Philippines is subject to strict regulations, including restrictions on foreign ownership and special requirements for agricultural land. The document serves as the primary evidence of the transaction and forms the basis for subsequent property registration and transfer procedures.

Suggested Sections

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

2. Background: Context of the sale, including brief history of ownership and purpose of the transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the land including lot number, survey number, location, boundaries, and title certificate details

5. Purchase Price: Agreed purchase price and detailed payment terms including method and timing of payments

6. Terms of Payment: Schedule of payments, including any deposits, installments, and final payment arrangements

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

8. Conditions Precedent: Conditions that must be met before the sale can be completed

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

10. Transfer of Title: Process and timing for the transfer of title to the buyer

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

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

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

14. Execution: Signature blocks with requirements for notarization as per Philippine law

Optional Sections

1. Environmental Compliance: Required when the property is in an environmentally sensitive area or subject to environmental regulations

2. Tenant Provisions: Include when the property has existing tenants or lessees

3. Agricultural Land Provisions: Required when the land is classified as agricultural and subject to CARP restrictions

4. Broker Provisions: Include when real estate brokers are involved in the transaction

5. Foreign Ownership Compliance: Required when the buyer is a foreign national or entity

6. Subdivision Requirements: Include when the land is part of a subdivision development

7. Mortgage Release: Required when the property has existing mortgages that need to be discharged

8. Construction Provisions: Include when there are existing structures or ongoing construction on the land

Suggested Schedules

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

2. Title Documents: Copies of the Transfer Certificate of Title or Original Certificate of Title

3. Tax Declarations: Current and historical tax declarations for the property

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

5. Due Diligence Documents: List of property-related documents provided by seller for buyer's review

6. Permits and Certificates: Copies of relevant permits, zoning certificates, and local government clearances

7. Property Photographs: Recent photographs of the property and its boundaries

8. Power of Attorney: If applicable, documents authorizing representatives to act on behalf 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

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Real Estate Attorney

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Real Estate Broker

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Corporate Lawyer

Land Registration Officer

Property Developer

Real Estate Agent

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Title Examiner

Land Surveyor

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Property Acquisition Specialist

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Real Estate Agreement To Sell

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Let's create your Sell Land Contract

Authors

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