Absolute Deed Of Sale Of Motor Vehicle Template for Philippines

The Absolute Deed of Sale of Motor Vehicle is a crucial legal document used in the Philippines when transferring ownership of motor vehicles between parties. This document is essential for compliance with the Land Transportation and Traffic Code (RA 4136), the Civil Code of the Philippines, and various LTO regulations. It should be used whenever there is a final and complete transfer of vehicle ownership, whether between private individuals, corporate entities, or a combination thereof. The document includes comprehensive details about the vehicle, parties involved, purchase price, warranties, and representations, ensuring that the transaction is legally binding and properly documented. It serves as the primary evidence of the transfer and is required for updating vehicle registration records with the LTO. The Absolute Deed of Sale of Motor Vehicle must be notarized to be valid and is typically accompanied by supporting documents such as vehicle registration papers, tax clearances, and insurance certificates.

1. Parties: Identifies and provides complete details of the Vendor (seller) and Vendee (buyer), including their full names, addresses, and government IDs

2. Background: Brief context of the transaction and confirmation of the seller's ownership and authority to sell

3. Definitions: Defines key terms used throughout the document

4. Subject Matter: Detailed description of the motor vehicle including make, model, year, color, engine number, chassis number, plate number, and other identifying details

5. Consideration: States the agreed purchase price and payment terms

6. Acknowledgment of Receipt: Seller's confirmation of receiving full payment and buyer's acknowledgment of receiving the vehicle

7. Warranties and Representations: Seller's warranties regarding vehicle ownership, absence of liens or encumbrances, and condition of the vehicle

8. Transfer of Ownership: Clear statement transferring all rights, title, and interests in the vehicle to the buyer

9. Taxes and Registration: Responsibilities for payment of taxes and handling of registration transfer

10. Governing Law: Specifies that the deed is governed by Philippine law

11. Execution: Formal closing and signature blocks for parties and witnesses