The Deed of Sale of House and Lot is a fundamental legal instrument in Philippine real estate transactions, used whenever ownership of residential property is transferred between parties. This document, essential under Philippine property law, serves as the primary evidence of the transfer of ownership and the terms agreed upon between the seller and buyer. It must contain specific elements required by Philippine civil law, including detailed property descriptions, price, payment terms, and warranties. The deed must be notarized and registered with appropriate authorities to be fully effective. This document type is particularly important as it protects both parties' interests and ensures compliance with local property registration requirements, tax obligations, and other regulatory requirements specific to Philippine real estate transactions.
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1. Parties: Identifies and provides complete details of the Vendor/Seller and Purchaser/Buyer, including their legal capacity to enter into the contract
2. Background: States the context of the sale, including the Vendor's ownership and authority to sell the property
3. Definitions: Defines key terms used throughout the deed for clarity and legal certainty
4. Property Description: Detailed description of the house and lot, including exact measurements, boundaries, and technical description as per title
5. Purchase Price: States the total purchase price and payment terms, including any deposits or installment arrangements
6. Mode of Payment: Specifies how payments will be made, including banking details if applicable
7. Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and other material facts
8. Possession and Transfer of Title: Specifies when and how possession and legal title will be transferred to the buyer
9. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs
10. Execution Requirements: Details about signing, witnessing, and notarization requirements
1. Broker's Commission: Include when a real estate broker is involved in the transaction
2. Existing Tenancies: Required when the property has current tenants and specifies handling of lease agreements
3. Mortgage Details: Include when the property has an existing mortgage or if the purchase is through bank financing
4. Construction Warranties: Include for newly constructed properties with ongoing builder's warranties
5. Property Management Transition: Include when the property is part of a managed complex or subdivision
6. Renovation Agreement: Include when specific renovations are agreed to be completed before or after the sale
1. Property Title: Copy of the Transfer Certificate of Title (TCT) or other title document
2. Property Plans: Technical drawings, lot plans, and house floor plans
3. Tax Declarations: Current real property tax declarations and tax clearances
4. Payment Schedule: Detailed breakdown of payment terms if not made in full
5. Inventory of Fixtures: List of fixtures and fittings included in the sale
6. Property Photos: Recent photographs of the property's interior and exterior
7. Local Permits: Copies of relevant building permits and local government clearances
Relevant legal definitions
Property
House
Lot
Vendor
Purchaser
Purchase Price
Completion Date
Transfer Date
Certificate of Title
Transfer Certificate of Title
Tax Declaration
Encumbrances
Improvements
Fixtures and Fittings
Real Estate Taxes
Documentary Stamps
Capital Gains Tax
Registration Fees
Local Government Unit
Registry of Deeds
Deed of Absolute Sale
Earnest Money
Down Payment
Contract to Sell
Closing Costs
Transfer Taxes
Title Insurance
Possession
Technical Description
Zonal Value
Building Permits
Occupancy Permit
Property Insurance
Force Majeure
Warranties
House
Lot
Vendor
Purchaser
Purchase Price
Completion Date
Transfer Date
Certificate of Title
Transfer Certificate of Title
Tax Declaration
Encumbrances
Improvements
Fixtures and Fittings
Real Estate Taxes
Documentary Stamps
Capital Gains Tax
Registration Fees
Local Government Unit
Registry of Deeds
Deed of Absolute Sale
Earnest Money
Down Payment
Contract to Sell
Closing Costs
Transfer Taxes
Title Insurance
Possession
Technical Description
Zonal Value
Building Permits
Occupancy Permit
Property Insurance
Force Majeure
Warranties
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Possession
Warranties and Representations
Property Condition
Taxes and Fees
Risk and Insurance
Default and Remedies
Registration Requirements
Local Government Compliance
Broker Commission
Due Diligence
Encumbrances
Force Majeure
Governing Law
Dispute Resolution
Severability
Entire Agreement
Assignment
Notices
Closing Conditions
Property Maintenance
Utilities Transfer
Environmental Compliance
Zoning Compliance
Real Estate Tax Obligations
Notarial Requirements
Amendment Provisions
Purchase Price
Payment Terms
Title Transfer
Possession
Warranties and Representations
Property Condition
Taxes and Fees
Risk and Insurance
Default and Remedies
Registration Requirements
Local Government Compliance
Broker Commission
Due Diligence
Encumbrances
Force Majeure
Governing Law
Dispute Resolution
Severability
Entire Agreement
Assignment
Notices
Closing Conditions
Property Maintenance
Utilities Transfer
Environmental Compliance
Zoning Compliance
Real Estate Tax Obligations
Notarial Requirements
Amendment Provisions
Relevant Industries
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Insurance
Property Management
Local Government
Public Notary Services
Tax Services
Relevant Teams
Legal
Real Estate
Property Management
Sales
Corporate Affairs
Risk Management
Compliance
Finance
Documentation
Corporate Secretarial
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Officer
Property Developer
Bank Manager
Mortgage Officer
Property Assessor
Title Examiner
Real Estate Broker
Property Manager
Legal Counsel
Notary Public
Tax Consultant
Real Estate Administrator
Property Acquisition Manager
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