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The Simple Property Sale Agreement is a fundamental legal document used in the Philippines for property transactions between parties. This agreement is essential when transferring ownership of real property, whether residential, commercial, or industrial. It must comply with the Civil Code of the Philippines, the Property Registration Decree (PD 1529), and other relevant local laws and regulations. The document is designed to protect both parties' interests by clearly stating the terms of sale, including property details, purchase price, payment terms, and conditions for transfer. It serves as the primary evidence of the transaction and is required for property registration with the Register of Deeds. The agreement can be used for both private individuals and corporate entities, and typically requires notarization to be legally binding in the Philippines.

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal names, addresses, and tax identification numbers

2. Background: Brief context of the transaction and confirmation that the Seller owns the property and wishes to sell it to the Buyer

3. Definitions: Defines key terms used throughout the agreement

4. Property Description: Detailed description of the property being sold, including its location, boundaries, and title details

5. Purchase Price: States the agreed purchase price and payment terms

6. Payment Terms: Details the method and schedule of payment, including any deposits or installments

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

8. Seller's Representations and Warranties: Statements by the Seller about the property's condition, ownership, and legal status

9. Closing and Transfer of Title: Specifies when and how the property title will be transferred to the Buyer

10. Taxes and Expenses: Allocates responsibility for various taxes and transaction costs

11. Default and Remedies: Describes what constitutes default and the available remedies

12. Execution: Formal signing section with spaces for signatures, witnesses, and notarization