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Real Estate Exchange Agreement
"I need a Real Estate Exchange Agreement for swapping my commercial building in Makati with a beachfront resort property in Cebu, with both properties being of equal value and free from encumbrances, targeting completion by March 2025."
1. Parties: Identifies and provides complete details of all parties involved in the exchange, including their legal capacity to enter into the agreement
2. Background: Outlines the context of the exchange and explains why the parties wish to enter into this agreement
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Properties Description: Detailed description of all properties being exchanged, including their complete legal descriptions and TCT/CCT numbers
5. Exchange Terms: Specifies the terms and conditions of the exchange, including any monetary adjustments or boot payments
6. Representations and Warranties: Statements by each party regarding their ownership rights, property condition, and authority to exchange
7. Due Diligence: Outlines the process and timeline for property inspection, title verification, and other necessary investigations
8. Closing Conditions: Lists all conditions that must be met before the exchange can be completed
9. Transfer of Title: Details the process and requirements for transferring property titles under Philippine law
10. Taxes and Expenses: Specifies responsibility for transfer taxes, registration fees, and other transaction costs
11. Default and Remedies: Describes what constitutes default and the available remedies for the non-defaulting party
12. Governing Law and Jurisdiction: Specifies Philippine law as governing law and designates jurisdiction for dispute resolution
13. Notices: Specifies how and where official communications between parties should be delivered
14. Execution: Signature blocks and notarization requirements as per Philippine law
1. Boot Payment Terms: Required when one property has higher value and monetary compensation is part of the exchange
2. Tenant Provisions: Needed when either property has existing tenants and lease agreements
3. Mortgage Arrangements: Required when either property has existing mortgages that need to be addressed
4. Environmental Compliance: Necessary for properties with potential environmental concerns or specific use restrictions
5. Development Restrictions: Required when properties are subject to zoning laws or development limitations
6. Third-Party Consents: Needed when exchange requires approval from other parties (e.g., lenders, government agencies)
7. Broker Provisions: Required when real estate brokers are involved in the transaction
1. Schedule A - Property Details: Complete technical description of first property, including boundaries, improvements, and title information
2. Schedule B - Property Details: Complete technical description of second property, including boundaries, improvements, and title information
3. Schedule C - Title Documents: Copies of TCT/CCT and other relevant title documents for both properties
4. Schedule D - Property Valuation: Independent valuation reports for both properties
5. Schedule E - Tax Certificates: Current tax declarations and tax clearances for both properties
6. Schedule F - Property Pictures: Recent photographs and visual documentation of both properties
7. Appendix 1 - Due Diligence Checklist: Checklist of required documents and verifications for both properties
8. Appendix 2 - Government Permits: Copies of relevant permits, certificates, and governmental approvals
9. Appendix 3 - Power of Attorney: If applicable, POA documents authorizing representatives to act on behalf of any party
Authors
Real Estate
Property Development
Construction
Agriculture (for land exchange)
Commercial Property
Residential Property
Industrial Property
Hospitality
Retail
Urban Development
Infrastructure
Legal
Real Estate
Property Management
Compliance
Tax
Finance
Business Development
Asset Management
Facilities Management
Risk Management
Corporate Services
Real Estate Manager
Property Development Director
Legal Counsel
Real Estate Broker
Property Valuer
Compliance Officer
Tax Manager
Land Registration Officer
Real Estate Attorney
Property Portfolio Manager
Asset Manager
Facilities Manager
Real Estate Investment Manager
Development Project Manager
Land Acquisition Manager
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