Car Purchase Agreement (Real Estate) Template for Philippines

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Key Requirements PROMPT example:

Car Purchase Agreement (Real Estate)

"I need a Car Purchase Agreement (Real Estate) for buying a Toyota Hilux for our property management operations in Manila, with a planned purchase date of March 15, 2025, including standard warranties and registration requirements under Philippine law."

Document background

The Car Purchase Agreement (Real Estate) is a specialized legal instrument used in the Philippines when purchasing vehicles specifically for real estate-related purposes, such as property development, real estate operations, or property management activities. This document is essential for businesses and individuals in the real estate sector who need to document vehicle acquisitions for their operations. The agreement incorporates elements of both automotive and real estate considerations, ensuring compliance with Philippine transportation laws, consumer protection regulations, and real estate industry standards. It includes comprehensive details about the vehicle, payment terms, warranties, and specific provisions related to its intended use in real estate operations. The document is particularly relevant for property developers, real estate companies, and property management firms requiring vehicles for their business operations.

Suggested Sections

1. Parties: Identifies and provides complete details of the seller and buyer, including their legal names, addresses, and contact information

2. Background: Establishes the context of the sale and confirms the seller's ownership and right to sell the vehicle

3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation

4. Vehicle Description: Detailed description of the vehicle including make, model, year, color, VIN/chassis number, engine number, and current mileage

5. Purchase Price and Payment Terms: Specifies the total purchase price, payment schedule, and accepted payment methods

6. Transfer of Ownership: Details the process and timing of transferring vehicle ownership and required documentation

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

8. Buyer's Acknowledgments: Buyer's confirmation of vehicle inspection and acceptance of condition

9. Registration and Documentation: Responsibilities for vehicle registration transfer and required documentation

10. Taxes and Fees: Allocation of responsibility for various taxes and fees associated with the sale

11. Delivery: Terms and conditions for vehicle delivery or collection

12. Governing Law: Confirms Philippine law governs the agreement and specifies jurisdiction

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Financing Terms: Include when the purchase involves bank financing or installment payments

2. Trade-in Details: Include when there is a vehicle trade-in as part of the purchase

3. Insurance Requirements: Include when specific insurance arrangements are part of the sale conditions

4. Warranty Terms: Include for newer vehicles or when additional warranties are being provided

5. Condition Report Acknowledgment: Include when a formal pre-purchase inspection has been conducted

6. Modifications Declaration: Include when the vehicle has aftermarket modifications

7. Default and Remedies: Include when installment payments are involved

8. Commission or Broker Fees: Include when a broker or dealer is involved in the transaction

Suggested Schedules

1. Schedule A - Vehicle Specification Details: Comprehensive list of vehicle specifications, features, and accessories

2. Schedule B - Vehicle Condition Report: Detailed inspection report noting vehicle condition and any existing damage

3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and dates if installment payments are involved

4. Schedule D - Required Documentation Checklist: List of all documents required for the transfer of ownership

5. Appendix 1 - Photographs: Current photographs of the vehicle documenting its condition

6. Appendix 2 - Maintenance Records: Copy of vehicle maintenance history and records

7. Appendix 3 - LTO Registration Documents: Copies of current registration documents and official receipts

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

Automotive

Real Estate

Financial Services

Insurance

Legal Services

Transportation

Fleet Management

Vehicle Leasing

Automotive Retail

Property Development

Relevant Teams

Legal

Finance

Procurement

Operations

Compliance

Real Estate

Fleet Management

Risk Management

Administrative Services

Asset Management

Relevant Roles

Real Estate Developer

Property Manager

Fleet Manager

Legal Counsel

Procurement Manager

Finance Director

Operations Manager

Compliance Officer

Real Estate Agent

Facilities Manager

Asset Manager

Administrative Officer

Sales Manager

Business Development Manager

Risk Management Officer

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Let's create your Car Purchase Agreement (Real Estate)

Authors

Alex Denne

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