The Deed of Sale For Condominium Unit is a fundamental legal document used in Philippine real estate transactions when transferring ownership of condominium properties. It is required whenever a condominium unit is sold, whether in a primary sale from developer to first owner, or in subsequent resale transactions. The document must comply with the Philippine Condominium Act (RA 4726), Civil Code provisions on sales, and various property laws. It contains crucial information including detailed property description, price, payment terms, warranties, and obligations of parties. This deed is particularly important in urban areas where condominium living is prevalent, and requires notarization and registration with the Register of Deeds to perfect the transfer of ownership. The document protects both buyer and seller interests by clearly stating all terms and conditions of the sale, including provisions for common areas and adherence to condominium corporation rules.
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Key Requirements PROMPT example:
Deed Of Sale For Condominium Unit
"I need a Deed of Sale for Condominium Unit for the transfer of my 2-bedroom unit in Manila to an individual buyer, with full payment to be made upon signing in March 2025, including provisions for one parking space."
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1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal capacity to enter into the contract
2. Background: Establishes the Seller's ownership of the property and their right to sell it, including details of the title and any relevant certificates
3. Definitions: Defines key terms used throughout the deed, including technical and legal terminology
4. Property Description: Detailed description of the condominium unit, including unit number, floor area, location, and boundaries
5. Common Areas: Description of shared facilities and the unit's corresponding share in common areas
6. Purchase Price: States the total purchase price and terms of payment
7. Mode of Payment: Details how and when payments will be made, including installment terms if applicable
8. Representations and Warranties: Statements by both parties regarding their capacity, authority, and the condition of the property
9. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs
10. Delivery and Transfer of Possession: Timeline and conditions for transferring physical possession of the unit
11. Title Transfer: Process and requirements for transferring legal title to the Buyer
12. Governing Law: Specifies that Philippine law governs the deed
13. Execution: Formal signing section with notarization requirements
1. Mortgage Provisions: Include when the purchase is financed through a mortgage, detailing the terms and conditions
2. Property Management: Include when specific management arrangements need to be highlighted or transferred
3. Broker's Commission: Include when a broker is involved in the transaction
4. Due Diligence Results: Include when specific findings from property inspection need to be acknowledged
5. Existing Tenancy: Include when the unit is currently leased and arrangements need to be made regarding existing tenants
6. Parking Space: Include when a parking space is included in the sale
7. Force Majeure: Include when specific provisions for unforeseen circumstances are required
8. Dispute Resolution: Include when specific arbitration or mediation procedures are agreed upon
1. Schedule A - Property Details: Detailed technical description of the unit, including floor plan and specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms and dates
3. Schedule C - Inventory of Fixtures and Fittings: List of items included in the sale
4. Schedule D - Building Rules and Regulations: Copy of the condominium corporation's rules and regulations
5. Schedule E - Tax Certificates: Copies of relevant tax clearances and certificates
6. Schedule F - Power of Attorney: If applicable, authorization documents for representatives
7. Appendix 1 - Property Title: Copy of the Condominium Certificate of Title
8. Appendix 2 - Location Map: Maps showing the location of the property and unit
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Relevant Roles
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Real Estate Transaction Manager
Development Director
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