Document background
A Simple Deed of Sale is a fundamental legal instrument in Philippine property transactions, used to document and formalize the transfer of ownership of both real and personal property. This document is essential when conducting any property sale in the Philippines, whether it involves residential, commercial, or industrial property. It must comply with the Civil Code of the Philippines, the Property Registration Decree, and various tax regulations. The document serves multiple purposes: it evidences the transfer of ownership, establishes the terms and conditions of the sale, and serves as a basis for property registration and tax declarations. A properly executed Simple Deed of Sale includes detailed information about the parties, comprehensive property description, purchase price, payment terms, and warranties, all of which must be notarized to ensure legal validity and enforceability under Philippine law.
