The Agreement For Sale And Sale Deed is a crucial legal document used in Philippine real estate transactions to formalize property transfers. This document type is particularly relevant when parties wish to combine the preliminary sale agreement and the final deed of sale into a single comprehensive instrument. It is commonly used for both residential and commercial property transactions in the Philippines, ensuring compliance with the Civil Code of the Philippines, Property Registration Decree, and local government regulations. The document includes essential elements such as property description, price, payment terms, warranties, and transfer conditions, while also serving as the basis for property registration with the Registry of Deeds. It's designed to protect both parties' interests and ensure a legally valid transfer of property ownership under Philippine jurisdiction.
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1. Parties: Identification and details of the Vendor/Seller and Purchaser/Buyer, including their complete names, addresses, and tax identification numbers
2. Background: Context of the sale, brief description of the property, and the parties' intention to enter into the sale transaction
3. Definitions: Definitions of key terms used throughout the agreement to ensure clarity and prevent ambiguity
4. Property Details: Comprehensive description of the property being sold, including its location, boundaries, and title details
5. Purchase Price: The agreed purchase price, payment terms, and schedule of payments
6. Terms of Payment: Detailed breakdown of payment structure, including deposits, installments, and final payment
7. Conditions Precedent: Conditions that must be satisfied before the sale can be completed
8. Vendor's Representations and Warranties: Seller's declarations regarding property ownership, absence of encumbrances, and authority to sell
9. Purchaser's Representations and Warranties: Buyer's declarations regarding capacity to purchase and compliance with laws
10. Completion: Process and requirements for completing the sale, including execution of deed and transfer of title
11. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other costs
12. Default and Remedies: Consequences of breach and available remedies to either party
13. Governing Law: Specification of Philippine law as governing law and jurisdiction
14. Execution: Formal closing section with signature blocks and notarization requirements
1. Broker's Commission: Include when a real estate broker is involved in the transaction, detailing commission arrangements
2. Mortgage Provisions: Include when the purchase is subject to mortgage financing
3. Possession and Risk: Include when there are specific arrangements for property possession or risk transfer before completion
4. Environmental Matters: Include for properties with potential environmental concerns or compliance requirements
5. Tenant Rights: Include when the property is subject to existing tenancy agreements
6. Development Restrictions: Include when the property is subject to zoning or development restrictions
7. Force Majeure: Include to address potential disruptions due to unforeseen circumstances
8. Assignment Rights: Include when either party may need to assign their rights under the agreement
1. Property Description Schedule: Detailed technical description of the property, including lot number, boundaries, and technical specifications
2. Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates
3. Title Documents: List of all title documents and certified true copies of property ownership papers
4. Encumbrances Schedule: List of any existing encumbrances, liens, or restrictions on the property
5. Inventory Schedule: List of fixtures, fittings, or other items included in the sale
6. Required Permits: List of permits and clearances required for the transfer
7. Tax Certificates: Copies of relevant tax clearances and certificates
8. Property Inspection Report: Technical inspection reports and property condition assessment
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Agriculture (for agricultural land)
Commercial Property
Residential Property
Industrial Property
Hospitality
Retail
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Corporate Affairs
Documentation
Acquisitions
Investment
Risk Management
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Broker
Legal Counsel
Compliance Officer
Real Estate Developer
Property Administrator
Title Officer
Conveyancing Lawyer
Corporate Lawyer
Real Estate Transaction Manager
Property Acquisition Manager
Legal Documentation Specialist
Real Estate Investment Manager
Land Registration Officer
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