The Condo Deed is a crucial legal instrument in Philippine real estate transactions, used specifically for transferring ownership rights of condominium units. This document is essential when purchasing a condominium unit, whether from a developer or a previous owner, and must comply with the Condominium Act (RA 4726) and other relevant Philippine property laws. The deed contains comprehensive information about the unit, including its exact specifications, share in common areas, ownership rights, and obligations. It serves as the primary evidence of ownership and establishes the legal relationship between the unit owner and the condominium corporation. The document is particularly important in the Philippine context due to the growing popularity of condominium living in urban areas and the need to clearly define property rights in shared buildings.
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Key Requirements PROMPT example:
Condo Deed
"I need a Condo Deed for a luxury unit purchase in Manila, Philippines, with special provisions for exclusive access to the rooftop garden and additional parking rights for two vehicles, with the transaction expected to close by March 2025."
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1. Parties: Identifies and provides complete details of the seller/developer and buyer, including their legal capacity to enter into the agreement
2. Background: Provides context about the condominium project, developer's authority, and property background
3. Definitions: Defines key terms used throughout the deed, including technical and legal terminology
4. Property Description: Detailed description of the specific unit, including unit number, floor area, boundaries, and technical specifications
5. Common Areas: Specification of common areas and facilities, including the buyer's proportionate interest
6. Purchase Price: States the total purchase price, payment terms, and schedule of payments
7. Rights and Obligations: Outlines the rights and obligations of the unit owner, including use restrictions and compliance requirements
8. Association Membership: Details about mandatory membership in the condominium corporation or association
9. Maintenance and Utilities: Responsibilities for unit maintenance and utility connections
10. Insurance: Requirements for insurance coverage of the unit and common areas
11. Transfer of Title: Process and requirements for the transfer of title to the buyer
12. Governing Law: Specifies that the deed is governed by Philippine law and relevant regulations
13. Execution: Formal closing section with signatures, witnesses, and notarization requirements
1. Mortgage Provisions: Include when the purchase is financed through a mortgage, specifying the terms and conditions of the mortgage
2. Parking Rights: Include when the unit comes with designated parking space(s)
3. Storage Rights: Include when additional storage areas are included in the purchase
4. Special Use Rights: Include when there are specific amenities or facilities with restricted or special use rights
5. Property Management: Include when there are specific property management arrangements or requirements
6. Construction Warranties: Include for new developments to specify construction warranties and defect liability periods
7. Renovation Guidelines: Include when there are specific restrictions or requirements for unit renovations
8. Lease Provisions: Include when there are restrictions or requirements regarding unit leasing
1. Schedule A - Unit Floor Plan: Detailed architectural plan of the unit showing exact measurements and boundaries
2. Schedule B - Master Title Details: Copy of the master title and technical description from the Registry of Deeds
3. Schedule C - Common Areas Plan: Plan showing all common areas and facilities in the condominium project
4. Schedule D - Payment Schedule: Detailed breakdown of the payment terms and schedule
5. Schedule E - House Rules: Complete set of condominium rules and regulations
6. Schedule F - Maintenance Fees: Schedule of association dues and other regular fees
7. Appendix 1 - Developer's Licenses: Copies of relevant permits and licenses
8. Appendix 2 - Association Documents: Copies of association articles and by-laws
9. Appendix 3 - Tax Certificates: Current tax declarations and certificates
10. Appendix 4 - Building Insurance: Details of master insurance policy for the building
Authors
Relevant legal definitions
Unit
Common Areas
Limited Common Areas
Unit Owner
Developer
Condominium Corporation
Condominium Project
Master Deed
Association Dues
Common Expenses
Board of Directors
Articles of Incorporation
By-Laws
House Rules
Transfer Certificate of Title
Condominium Certificate of Title
Deed of Absolute Sale
Property Manager
Maintenance Fees
Utility Services
Special Assessment
Parking Space
Storage Area
Building
Project Site
Floor Area
Share in Common Areas
Exclusive Use Areas
Management Body
Governing Documents
Improvements
Easements
Regular Assessment
Special Assessment
Insurance Coverage
Force Majeure
Completion Date
Turnover Date
Occupancy Permit
Master Insurance Policy
Renovation Works
Amenities
Facilities
Mortgage
Real Estate Taxes
Liens
Encumbrances
Common Areas
Limited Common Areas
Unit Owner
Developer
Condominium Corporation
Condominium Project
Master Deed
Association Dues
Common Expenses
Board of Directors
Articles of Incorporation
By-Laws
House Rules
Transfer Certificate of Title
Condominium Certificate of Title
Deed of Absolute Sale
Property Manager
Maintenance Fees
Utility Services
Special Assessment
Parking Space
Storage Area
Building
Project Site
Floor Area
Share in Common Areas
Exclusive Use Areas
Management Body
Governing Documents
Improvements
Easements
Regular Assessment
Special Assessment
Insurance Coverage
Force Majeure
Completion Date
Turnover Date
Occupancy Permit
Master Insurance Policy
Renovation Works
Amenities
Facilities
Mortgage
Real Estate Taxes
Liens
Encumbrances
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Common Areas Rights
Ownership Rights
Use Restrictions
Association Membership
Maintenance Obligations
Insurance Requirements
Property Management
Utilities and Services
Association Dues
Renovation and Alterations
Parking Rights
Storage Rights
Default and Remedies
Force Majeure
Governing Law
Dispute Resolution
Assignment Rights
Notices
Taxes and Fees
Warranties
Representations
Compliance
Environmental
Health and Safety
Building Rules
Easements
Encumbrances
Mortgage Provisions
Registration
Survival
Severability
Entire Agreement
Amendment
Binding Effect
Construction Warranties
Defect Liability
Termination
Purchase Price
Payment Terms
Title Transfer
Common Areas Rights
Ownership Rights
Use Restrictions
Association Membership
Maintenance Obligations
Insurance Requirements
Property Management
Utilities and Services
Association Dues
Renovation and Alterations
Parking Rights
Storage Rights
Default and Remedies
Force Majeure
Governing Law
Dispute Resolution
Assignment Rights
Notices
Taxes and Fees
Warranties
Representations
Compliance
Environmental
Health and Safety
Building Rules
Easements
Encumbrances
Mortgage Provisions
Registration
Survival
Severability
Entire Agreement
Amendment
Binding Effect
Construction Warranties
Defect Liability
Termination
Relevant Industries
Real Estate
Property Development
Legal Services
Banking and Finance
Construction
Property Management
Insurance
Real Estate Investment
Urban Development
Housing and Development
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Documentation
Sales
Customer Relations
Risk Management
Operations
Corporate Services
Relevant Roles
Real Estate Lawyer
Property Developer
Real Estate Broker
Property Manager
Legal Counsel
Compliance Officer
Real Estate Manager
Title Officer
Conveyancing Lawyer
Property Development Director
Real Estate Transaction Manager
Documentation Specialist
Legal Documentation Officer
Property Rights Specialist
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