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Deed Of Sale

Deed Of Sale Template for Philippines

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Key Requirements PROMPT example:

Deed Of Sale

"I need a Deed of Sale for transferring ownership of my residential property in Manila to an individual buyer, with the full payment of 5 million pesos to be made on March 15, 2025."

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Document background
A Deed of Sale is a crucial legal instrument in Philippine property law used to formalize and document the transfer of ownership of property from one party to another. This document type is essential for both residential and commercial property transactions in the Philippines, being governed by the Civil Code of the Philippines, the Property Registration Decree, and various tax regulations. The Deed of Sale must include specific details about the property being sold, complete information about the parties involved, the purchase price, terms of payment, and various warranties and representations. It requires notarization and subsequent registration with the Register of Deeds to perfect the transfer. The document is particularly important as it serves as the basis for updating property tax records, transferring utility services, and establishing clear chain of title for future transactions.
Suggested Sections

1. Parties: Identification of the Vendor/Seller and Purchaser/Buyer with complete names, civil status, addresses, and tax identification numbers

2. Background: Brief context of the sale transaction and the property ownership history

3. Definitions: Definition of key terms used throughout the deed

4. Subject Matter of Sale: Detailed description of the property being sold, including location, boundaries, and title details

5. Consideration: Purchase price, payment terms, and method of payment

6. Vendor's Warranties: Warranties regarding ownership, title, absence of encumbrances, and authority to sell

7. Transfer of Title and Possession: Terms regarding the transfer of ownership and physical possession of the property

8. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs

9. Registration and Documentation: Requirements and procedures for registering the transfer

10. Execution Clause: Formal closing statements and signature blocks

Optional Sections

1. Mortgage Details: Include when the property is subject to an existing mortgage or if the purchase is financed through a new mortgage

2. Special Conditions: Any unique terms or conditions specific to the transaction

3. Improvements: Description of buildings or improvements when selling improved real property

4. Occupancy Status: Details about current occupants and terms of vacancy when property is occupied

5. Environmental Warranties: Include for industrial properties or when environmental concerns exist

6. Broker's Commission: Include when a broker is involved in the transaction

7. Survival Clause: Include when certain warranties or obligations need to survive completion

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including lot number, boundaries, and technical description from the title

2. Title Documents: Copies of relevant title documents and certificates

3. Payment Schedule: If payment is in installments, detailed breakdown of payment terms and dates

4. Inventory of Improvements: Detailed list and description of improvements included in the sale

5. Tax Clearance Certificates: Copies of real property tax clearances and other tax certificates

6. Property Plans: Survey plans, location plans, and building plans if applicable

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

Real Estate

Banking and Finance

Construction

Agriculture

Industrial

Commercial

Residential Property

Mining

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Secretariat

Finance

Tax

Operations

Facilities Management

Risk Management

Relevant Roles

Real Estate Manager

Property Manager

Legal Counsel

Corporate Secretary

Compliance Officer

Real Estate Broker

Land Registration Officer

Notary Public

Property Developer

Asset Manager

Acquisitions Manager

Real Estate Attorney

Title Examiner

Property Assessor

Transaction Manager

Industries
Civil Code of the Philippines (Republic Act No. 386): Primary law governing contracts, sales, and property transfers. Particularly Book IV on Obligations and Contracts, and Book V on Sales.
Property Registration Decree (Presidential Decree No. 1529): Governs the registration of real property and provides the system of registration of titles and transactions.
National Internal Revenue Code (Tax Code): Covers transfer taxes, capital gains tax, and documentary stamp tax requirements for property sales.
Local Government Code (Republic Act No. 7160): Governs local taxation and requirements for property transfers within local government jurisdictions.
Electronic Commerce Act (Republic Act No. 8792): Relevant for electronic signatures and digital documentation if used in the deed of sale.
Anti-Money Laundering Act (Republic Act No. 9160): Requires reporting of real estate transactions above certain thresholds to prevent money laundering.
Presidential Decree No. 1096 (National Building Code): Relevant for sales involving buildings or structures to ensure compliance with building standards and regulations.
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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