Notice Of Intent To Sell Property for Philippines

Notice Of Intent To Sell Property Template for Philippines

A formal written notification document used in the Philippines to officially inform relevant parties of the owner's intention to sell a property. This document is governed by Philippine property law, including the Civil Code of the Philippines and the Real Estate Service Act. It serves as a legal prerequisite in many property transactions, particularly when there are parties with rights of first refusal or when specific notice periods are required by law. The document includes essential details about the property, proposed sale terms, and timeframes for response, while ensuring compliance with local legal requirements and protecting the interests of all parties involved.

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What is a Notice Of Intent To Sell Property?

The Notice of Intent to Sell Property is a crucial document in Philippine real estate transactions that must be prepared and served before proceeding with many property sales. This notice is particularly important when there are parties with legal rights that might be affected by the sale, such as tenants with rights of first refusal or co-owners. The document must comply with the Civil Code of the Philippines and local regulations, requiring specific information about the property, proposed sale terms, and response periods. A properly prepared Notice of Intent to Sell Property helps prevent future legal disputes and ensures transparency in the transaction process. It's commonly used in both residential and commercial property sales, and may need to be notarized depending on the circumstances of the sale.

What sections should be included in a Notice Of Intent To Sell Property?

1. Sender's Information: Complete name and contact details of the property owner/seller

2. Date: Date when the notice is issued

3. Recipient's Information: Name and address of the party receiving the notice (e.g., tenant, co-owner, or relevant authority)

4. Subject Line: Clear indication that this is a Notice of Intent to Sell Property

5. Property Details: Complete description and location of the property being sold, including lot number, title details, and exact address

6. Declaration of Intent: Clear statement of intention to sell the property

7. Proposed Sale Terms: Basic information about the proposed sale including asking price and preferred timeline

8. Response Period: Specified timeframe for the recipient to respond or exercise any rights they may have

9. Closing and Signature: Formal closing, signature of the seller, and any required witnessing or notarization

What sections are optional to include in a Notice Of Intent To Sell Property?

1. Right of First Refusal Notice: Required when the recipient has a legal right of first refusal, such as a tenant or co-owner

2. Current Lease Details: Include when the property is currently leased and tenant rights need to be addressed

3. Property Improvements: Description of any significant improvements or modifications to the property when relevant to the sale

4. Special Conditions: Any specific conditions or requirements attached to the sale

5. Legal Representative Information: Contact information for the seller's legal representative if applicable

What schedules should be included in a Notice Of Intent To Sell Property?

1. Property Title: Copy of the property title or title abstract

2. Property Photos: Recent photographs of the property

3. Property Survey: Recent property survey or plot plan

4. Tax Declaration: Current tax declaration for the property

5. Existing Lease Agreement: If applicable, copy of current lease agreement affecting the property

6. Zoning Certificate: Current zoning certificate or land use classification

7. Outstanding Liens: List of any existing liens or encumbrances on the property

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

Jurisdiction

Philippines

Publisher

Genie AI

Document Type

Notice of Intent

Cost

Free to use

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