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The Private Sale Real Estate Contract is a fundamental legal document used in the Philippines for transferring ownership of real property between private parties. It is essential for any direct sale of land, buildings, or other real estate assets that doesn't involve a real estate developer or government agency as the seller. The document must comply with the Civil Code of the Philippines, the Property Registration Decree, and various local government regulations. This contract type is particularly important as it forms the basis for the subsequent registration of the property transfer with the Register of Deeds and serves as evidence for tax purposes. It includes crucial details about the property, parties involved, payment terms, and conditions of sale, while incorporating necessary provisions to protect both buyer and seller under Philippine law.

1. Parties: Identification of the Seller and Buyer with complete details as required by Philippine law, including civil status which is crucial for property transactions

2. Background: Context of the sale, including brief property history and current ownership status

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

4. Property Description: Detailed description of the real estate property including lot number, survey number, title details, boundaries, and improvements

5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments

6. Mode of Payment: Specific details on how payments will be made, including bank details if applicable

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

8. Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and other material facts

9. Rights and Obligations: Specific responsibilities of both parties before, during, and after the sale

10. Transfer of Title: Process and timeline for transferring property title to the buyer

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

12. Default and Remedies: Consequences of breach and available remedies for both parties

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

14. Execution: Formal closing section with signature blocks and notarization requirements