The Affidavit And Memorandum Of Agreement Of Purchase And Sale is a crucial document in Philippine property transactions, combining the formality of a sworn statement with the comprehensive terms of a sale agreement. This document type is particularly important in the Philippine legal context, where notarized documents carry significant weight in property transactions. It is used when parties need to create a legally binding record of property sale that can also serve as evidence in legal proceedings. The document includes sworn statements about the property's condition, ownership, and transaction details, while simultaneously detailing the complete terms of sale, payment conditions, and obligations of all parties. It's especially relevant in situations requiring enhanced documentation of property transactions, such as high-value sales, complex property transfers, or transactions involving foreign parties where additional compliance requirements apply.
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1. Parties: Identifies and provides complete details of the Vendor/Seller and Purchaser/Buyer, including their legal capacity to enter into the agreement
2. Background: Establishes the context of the sale, including brief description of the property and the parties' intention to enter into the transaction
3. Definitions: Defines key terms used throughout the document for clarity and legal certainty
4. Property Description: Detailed description of the property being sold, including its technical description, boundaries, and certificate of title information
5. Purchase Price: States the agreed purchase price and payment terms, including any deposits or installment arrangements
6. Mode of Payment: Specifies how and when payments will be made, including banking details if applicable
7. Representations and Warranties: Statements of fact by both parties regarding their capacity, the property's condition, and absence of encumbrances
8. Conditions of Sale: Details the terms and conditions of the sale, including delivery of possession and transfer of title
9. Taxes and Expenses: Specifies which party is responsible for various taxes and transaction costs
10. Notarial Acknowledgment: Required section for notarization, including jurat and acknowledgment
11. Execution: Signature blocks for all parties, witnesses, and notary public
1. Broker's Commission: Include when a broker or agent is involved in the transaction, specifying commission terms
2. Mortgage Details: Required when the property is subject to an existing mortgage or if the purchase is being financed through a mortgage
3. Foreign Ownership Compliance: Include when one party is a foreign national, addressing compliance with Philippine foreign ownership restrictions
4. Property Inspection Results: Include when specific property inspections have been conducted and form part of the agreement
5. Existing Tenancies: Required when the property is subject to existing lease agreements
6. Special Conditions: Include when there are unique circumstances or additional conditions specific to the transaction
7. Force Majeure: Optional clause addressing unforeseen circumstances that might affect the completion of the sale
1. Schedule A - Property Details: Comprehensive technical description of the property, including lot plan, boundaries, and improvements
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms and dates if involving multiple payments
3. Schedule C - Title Documents: List of all title documents and certified true copies of relevant certificates
4. Schedule D - Property Inspection Report: Detailed report of property condition and any identified issues
5. Schedule E - Tax Clearances: Copies of relevant tax clearances and certificates
6. Appendix 1 - Required Government IDs: Photocopies of required government IDs of all parties
7. Appendix 2 - Corporate Documents: If any party is a corporation, includes secretary's certificates, board resolutions, and other corporate authorizations
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