The Deed of Sale of Real Property Form is a crucial legal instrument in Philippine real estate transactions, essential for documenting and effectuating the transfer of real property ownership. This document is required whenever real property is sold in the Philippines, whether the transaction involves residential, commercial, or industrial property. It must comply with the Civil Code of the Philippines, the Property Registration Decree (PD 1529), and various local government regulations. The deed includes critical information such as the parties' details, property description, purchase price, payment terms, and various warranties and representations required by Philippine law. It serves as the basis for transferring the property's title and must be notarized and registered with the Register of Deeds to be fully effective.
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Key Requirements PROMPT example:
Deed Of Sale Of Real Property Form
"I need a standard Deed of Sale of Real Property Form for selling my residential house and lot in Manila to an individual buyer, with full payment to be made upon signing in March 2025."
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1. Parties: Identification of the Vendor/Seller and Purchaser/Buyer with complete names, civil status, citizenship, and addresses as required by Philippine law
2. Background: Brief recital of the Vendor's ownership of the property and intention to sell
3. Definitions: Definitions of key terms used throughout the deed
4. Property Description: Detailed technical description of the property including lot number, survey number, certificate of title number, boundaries, and area
5. Consideration: Purchase price, payment terms, and acknowledgment of receipt
6. Free and Clear Title: Vendor's warranty that the property is free from liens, encumbrances, and adverse claims
7. Possession and Transfer: Terms for the delivery of possession and transfer of title to the Purchaser
8. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs
9. Representations and Warranties: Standard warranties about property ownership, authority to sell, and compliance with laws
10. Execution Requirements: Formal requirements for signing, witnessing, and notarization
1. Broker's Clause: Include when a licensed real estate broker is involved in the transaction
2. Mortgage Assumption: Include when the Purchaser is assuming an existing mortgage on the property
3. Tenant Rights: Include when the property is subject to existing lease agreements
4. Construction Warranties: Include for newly constructed properties with ongoing builder warranties
5. Zoning Compliance: Include when there are specific zoning requirements or restrictions that affect the property's use
6. Foreign Ownership Declaration: Include when either party is a foreign national, addressing compliance with foreign ownership restrictions
1. Property Documents: Copy of the title certificate, tax declarations, and survey plan
2. Payment Schedule: Detailed breakdown of installment payments if not paid in full
3. Property Inventory: List of included fixtures, fittings, and other personal property being transferred
4. Tax Clearances: Copies of real property tax clearances and other tax certificates
5. Required Permits: Copies of necessary permits, certificates, and local government clearances
6. Power of Attorney: If applicable, documentation authorizing representatives to act on behalf of either party
Authors
Relevant legal definitions
Property
Purchase Price
Closing Date
Transfer Date
Certificate of Title
Deed of Absolute Sale
Encumbrances
Improvements
Transfer Tax
Documentary Stamps
Real Estate Tax
Register of Deeds
Tax Declaration
Technical Description
Liens
Title Insurance
Closing Costs
Due Diligence Period
Effective Date
Force Majeure
Governing Law
Local Government Unit
Notice
Parties
Possession
Real Property
Registration Fees
Taxes and Assessments
Title Defects
Warranties
Zoning Laws
Business Day
Completion
Default
Earnest Money
Purchase Price
Closing Date
Transfer Date
Certificate of Title
Deed of Absolute Sale
Encumbrances
Improvements
Transfer Tax
Documentary Stamps
Real Estate Tax
Register of Deeds
Tax Declaration
Technical Description
Liens
Title Insurance
Closing Costs
Due Diligence Period
Effective Date
Force Majeure
Governing Law
Local Government Unit
Notice
Parties
Possession
Real Property
Registration Fees
Taxes and Assessments
Title Defects
Warranties
Zoning Laws
Business Day
Completion
Default
Earnest Money
Clauses
Property Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Handover
Taxes and Fees
Default and Remedies
Force Majeure
Governing Law
Dispute Resolution
Registration and Recordation
Title Insurance
Due Diligence
Environmental Compliance
Zoning Compliance
Broker Representation
Property Condition
Liens and Encumbrances
Assignment
Severability
Entire Agreement
Notices
Survival
Further Assurances
Local Government Compliance
Foreign Ownership Compliance
Real Estate Tax Clearance
Title Examination
Closing Conditions
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Property Handover
Taxes and Fees
Default and Remedies
Force Majeure
Governing Law
Dispute Resolution
Registration and Recordation
Title Insurance
Due Diligence
Environmental Compliance
Zoning Compliance
Broker Representation
Property Condition
Liens and Encumbrances
Assignment
Severability
Entire Agreement
Notices
Survival
Further Assurances
Local Government Compliance
Foreign Ownership Compliance
Real Estate Tax Clearance
Title Examination
Closing Conditions
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Agriculture (for agricultural land)
Commercial Real Estate
Residential Real Estate
Industrial Real Estate
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Business Development
Sales
Corporate Affairs
Risk Management
Operations
Document Management
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Broker
Corporate Lawyer
Legal Counsel
Compliance Officer
Real Estate Developer
Land Registration Officer
Property Assessor
Title Examiner
Real Estate Agent
Business Development Manager
Property Investment Manager
Conveyancing Lawyer
Legal Administrator
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