Amendment To Real Estate Contract Template for Philippines

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Key Requirements PROMPT example:

Amendment To Real Estate Contract

"I need an Amendment to Real Estate Contract to modify the payment schedule and purchase price for a commercial property in Manila, increasing the price by 15% and extending the final payment deadline to March 15, 2025, with all other original terms remaining unchanged."

Document background

The Amendment To Real Estate Contract is a crucial document used in Philippine real estate transactions when parties need to modify their existing agreement without creating an entirely new contract. This document type is commonly required when circumstances change after the original contract execution, such as adjustments to purchase price, payment terms, delivery dates, or property specifications. It must comply with the Civil Code of the Philippines and related real estate laws, requiring proper execution and notarization. The amendment should clearly reference the original contract, specify the exact modifications, and maintain the validity of unchanged terms. It may require registration with the Register of Deeds if the changes affect property title or registration details.

Suggested Sections

1. Parties: Full legal names and addresses of all parties to the original contract who are participating in this amendment

2. Background: Reference to the original contract including its date and registration details, and brief explanation of why the amendment is needed

3. Definitions: Key terms used in the amendment, including reference to definitions from the original contract that remain applicable

4. Amendment Details: Specific modifications to the original contract, clearly stating which provisions are being changed, added, or deleted

5. Effect on Original Agreement: Statement confirming that all other terms of the original contract remain in full force and effect

6. Governing Law: Confirmation that the amendment is governed by Philippine law and subject to the same jurisdiction as the original contract

7. Execution: Signature blocks for all parties, including space for witnesses and notarization as required under Philippine law

Optional Sections

1. Representations and Warranties: Additional confirmations by the parties regarding their authority to enter into the amendment and the continued accuracy of original representations

2. Conditions Precedent: Any conditions that must be satisfied before the amendment becomes effective

3. Registration Requirements: Specific provisions regarding the registration of the amendment with relevant authorities, if required

4. Tax Provisions: Additional provisions regarding tax implications of the amendments, if the changes affect the tax structure of the transaction

5. Broker Involvement: Details of any real estate broker involvement in the amendment process, if applicable

Suggested Schedules

1. Schedule A - Modified Terms: Detailed listing of specific terms being modified, showing both original and amended versions

2. Schedule B - Updated Property Details: If the amendment involves changes to property details, updated description and technical information

3. Schedule C - Supporting Documents: Copies of relevant supporting documents such as board resolutions, powers of attorney, or government approvals

4. Appendix 1 - Marked-up Original Contract: Copy of the original contract with amendments clearly marked for reference purposes

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Commercial Property

Residential Property

Retail

Industrial

Hospitality

Banking and Finance

Legal Services

Construction

Agriculture (for agricultural land)

Manufacturing

Relevant Teams

Legal

Real Estate

Compliance

Operations

Facilities Management

Asset Management

Property Development

Contract Administration

Business Development

Risk Management

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Corporate Lawyer

Real Estate Broker

Property Developer

Compliance Officer

Contract Administrator

Real Estate Officer

Business Development Manager

Chief Legal Officer

Facilities Manager

Asset Manager

Real Estate Analyst

Operations Director

Find the exact document you need

Addendum Letter To Contract

A Philippine law-governed letter document that formally modifies or amends an existing contract while maintaining other original terms.

How Genie AI reduced drafting time by 75% for a legal firm

Let's create your Amendment To Real Estate Contract

Authors

Alex Denne

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