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Deed Of Absolute Sale For Motorcycle

Deed Of Absolute Sale For Motorcycle Template for Philippines

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Key Requirements PROMPT example:

Deed Of Absolute Sale For Motorcycle

"I need a Deed of Absolute Sale for Motorcycle for selling my Honda CBR150R to a buyer who will pay through bank financing, with the sale scheduled for March 2025, and I want to include provisions for partial payment retention until the bank loan is approved."

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Document background
The Deed of Absolute Sale For Motorcycle is a crucial legal instrument in the Philippines used to document and formalize the transfer of motorcycle ownership. This document is required whenever a motorcycle changes ownership, whether through private sale, dealer transaction, or corporate fleet disposal. It must comply with requirements set forth by the Land Transportation Office (LTO) and the Civil Code of the Philippines, including proper notarization. The deed contains essential information such as the motorcycle's technical specifications, seller and buyer details, purchase price, and warranties. It serves multiple purposes: proving ownership transfer, facilitating vehicle registration changes, supporting insurance applications, and providing legal protection for both parties. The document is particularly important in the Philippine context due to strict vehicle registration requirements and the need to prevent illegal vehicle transfers.
Suggested Sections

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their full legal names, addresses, and government-issued ID numbers

2. Background: Brief context stating the Seller's ownership of the motorcycle and intention to sell to the Buyer

3. Definitions: Defines key terms used in the deed, including 'Vehicle', 'Purchase Price', 'Registration Documents', etc.

4. Description of the Motorcycle: Detailed identification of the motorcycle including make, model, year, color, engine number, chassis number, plate number, and current registration details

5. Consideration: States the agreed purchase price and confirms receipt of payment

6. Transfer of Ownership: Explicit statement transferring all rights, title, and interest in the motorcycle from Seller to Buyer

7. Seller's Representations and Warranties: Seller's declarations regarding ownership, right to sell, motorcycle condition, and absence of liens or encumbrances

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

9. Execution: Formal signing section with date and witness provisions

Optional Sections

1. Financing Acknowledgment: Required when the purchase involves bank financing or loans, detailing the financial arrangement

2. Encumbrance Clearance: Added when the motorcycle had previous liens or encumbrances that have been cleared

3. Delivery Terms: Include when specific delivery arrangements are part of the sale agreement

4. Insurance Transfer: Required when existing insurance coverage is being transferred to the buyer

5. After-Sale Support: Include when the sale includes warranty or service agreements

6. Power of Attorney: Added when either party is acting through an authorized representative

Suggested Schedules

1. Schedule A - Motorcycle Details: Complete technical specifications and photographs of the motorcycle

2. Schedule B - Payment Details: Breakdown of payment terms if not made in full, including proof of payment

3. Schedule C - Registration Documents: Copies of current registration, insurance, and other relevant certificates

4. Schedule D - Inspection Report: Detailed condition report of the motorcycle at time of sale

5. Schedule E - Transfer Requirements Checklist: List of documents required by LTO for transfer of registration

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Automotive

Transportation

Insurance

Banking and Finance

Legal Services

Government and Regulatory

Retail

Motorcycle Dealerships

Vehicle Leasing

Logistics

Relevant Teams

Legal

Compliance

Sales

Fleet Management

Operations

Documentation

Risk Management

Administrative Services

Asset Management

Customer Service

Relevant Roles

Legal Counsel

Compliance Officer

Fleet Manager

Sales Manager

Dealership Manager

Vehicle Registration Officer

Insurance Underwriter

Bank Loan Officer

Automotive Documentation Specialist

Transport Operations Manager

Legal Administrative Assistant

Motorcycle Sales Executive

Property Custodian

Asset Manager

Documentation Officer

Industries
Civil Code of the Philippines (Republic Act No. 386): Provides the fundamental legal framework for contracts and sales, including requirements for validity, obligations of parties, and transfer of ownership
Land Transportation and Traffic Code (Republic Act No. 4136): Governs the registration and transfer of motor vehicles, including motorcycles, and sets requirements for vehicle ownership documentation
Consumer Act of the Philippines (Republic Act No. 7394): Protects buyers' rights and ensures fair trade practices in vehicle sales transactions
National Internal Revenue Code: Covers the tax implications and requirements for vehicle transfers, including capital gains tax and documentary stamp tax
LTO Administrative Order No. 2008-015: Specific regulations from Land Transportation Office regarding the requirements and procedures for transfer of vehicle ownership
Anti-Carnapping Act of 1972 (Republic Act No. 6539): Provides regulations to prevent illegal transfer of vehicles and ensures proper documentation of ownership
DOTC Department Order No. 2008-39: Guidelines on motorcycle registration and transfer of ownership
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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