Document background
The Deed of Sale Agreement is a fundamental legal instrument in Philippine property law, used to formalize and document the transfer of ownership of both movable and immovable property. This document is essential when conducting any sale transaction in the Philippines, whether for personal or commercial purposes. The agreement must comply with the requirements set forth in the Civil Code of the Philippines and related regulations, including proper identification of parties, clear description of the property being sold, specification of the purchase price, and terms of payment. The document is particularly critical for real estate transactions as it serves as the basis for transferring title in the Register of Deeds. It must be notarized to be legally binding and is often required by various institutions such as banks, government agencies, and property registries.
