The Property Agreement Contract serves as a fundamental legal instrument in Philippine real estate transactions, essential for documenting and formalizing property transfers, sales, or rights assignments. This document is particularly relevant when parties need to establish clear terms for property transactions, whether for residential, commercial, or industrial purposes. It must comply with Philippine property laws, including the Civil Code of the Philippines, Property Registration Decree, and relevant local government regulations. The agreement typically includes comprehensive details about the property, parties involved, financial terms, and specific conditions of the transfer, while ensuring all necessary legal requirements for property transactions in the Philippines are met.
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1. Parties: Identifies and provides complete details of all parties involved in the agreement, including their legal capacity to enter into the contract
2. Background: Provides context for the agreement, including brief history of the property and purpose of the transaction
3. Definitions: Defines key terms used throughout the agreement to ensure clear interpretation
4. Property Details: Comprehensive description of the property including location, boundaries, and technical details as per title
5. Consideration: Details of the purchase price or other consideration, payment terms, and method of payment
6. Representations and Warranties: Statements of fact and guarantees made by both parties regarding the property and their capacity to enter into the agreement
7. Rights and Obligations: Detailed responsibilities of each party before, during, and after the transaction
8. Title and Ownership: Provisions regarding the transfer of title and confirmation of clean title
9. Taxes and Expenses: Allocation of responsibility for various taxes, fees, and expenses related to the transaction
10. Default and Remedies: Consequences of breach and available remedies to the non-defaulting party
11. Governing Law: Specifies Philippine law as governing law and jurisdiction for disputes
12. Execution: Signature blocks and notarization requirements
1. Mortgage Provisions: Include when the property is subject to a mortgage or will be mortgaged as part of the transaction
2. Tenant Provisions: Include when the property is currently leased or will be leased to existing tenants
3. Development Obligations: Include when the agreement involves undeveloped land or property requiring specific development
4. Condominium Provisions: Include for condominium properties to address association rules and common areas
5. Environmental Provisions: Include when there are environmental concerns or requirements
6. Agricultural Land Provisions: Include when the property is agricultural land subject to special regulations
7. Indigenous Peoples' Rights: Include when the property is within or affects ancestral domains
8. Force Majeure: Include specific provisions for natural disasters or other unforeseen events
1. Property Description Schedule: Detailed technical description of the property, including metes and bounds
2. Title Documents: Copies of title, tax declarations, and other ownership documents
3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Due Diligence Results: Summary of property inspection, title search, and other due diligence findings
5. Permits and Licenses: Copies of relevant permits, licenses, and governmental approvals
6. Property Photos and Plans: Visual documentation of the property including surveys and architectural plans
7. Tax Certificates: Current tax clearances and certificates related to the property
8. Power of Attorney: If applicable, documents authorizing representatives to act on behalf of any party
Relevant legal definitions
Agreement
Property
Closing Date
Completion Date
Consideration
Deed of Absolute Sale
Effective Date
Encumbrances
Force Majeure
Improvements
Land
Material Adverse Change
Notice
Parties
Payment Terms
Permitted Use
Property Documents
Property Rights
Purchase Price
Real Estate Taxes
Registration
Related Parties
Representatives
Security Interest
Seller's Warranties
Title
Transfer Date
Transfer Taxes
Zoning Laws
Business Day
Certificate of Title
Common Areas
Due Diligence
Environmental Laws
Liens
Local Government Unit
Property Tax Declaration
Register of Deeds
Survey Plan
Tax Clearance Certificate
Transfer Certificate of Title
Property
Closing Date
Completion Date
Consideration
Deed of Absolute Sale
Effective Date
Encumbrances
Force Majeure
Improvements
Land
Material Adverse Change
Notice
Parties
Payment Terms
Permitted Use
Property Documents
Property Rights
Purchase Price
Real Estate Taxes
Registration
Related Parties
Representatives
Security Interest
Seller's Warranties
Title
Transfer Date
Transfer Taxes
Zoning Laws
Business Day
Certificate of Title
Common Areas
Due Diligence
Environmental Laws
Liens
Local Government Unit
Property Tax Declaration
Register of Deeds
Survey Plan
Tax Clearance Certificate
Transfer Certificate of Title
Clauses
Property Description
Purchase Price
Payment Terms
Transfer of Title
Representations and Warranties
Due Diligence
Conditions Precedent
Closing Conditions
Title Insurance
Property Inspection
Environmental Compliance
Taxes and Fees
Risk and Insurance
Default and Remedies
Force Majeure
Assignment and Transfer
Notices
Governing Law
Dispute Resolution
Indemnification
Severability
Entire Agreement
Amendment and Modification
Registration and Documentation
Zoning Compliance
Property Maintenance
Utilities and Services
Access Rights
Encumbrances
Termination
Survival
Confidentiality
Further Assurances
Time of Essence
Broker Fees
Purchase Price
Payment Terms
Transfer of Title
Representations and Warranties
Due Diligence
Conditions Precedent
Closing Conditions
Title Insurance
Property Inspection
Environmental Compliance
Taxes and Fees
Risk and Insurance
Default and Remedies
Force Majeure
Assignment and Transfer
Notices
Governing Law
Dispute Resolution
Indemnification
Severability
Entire Agreement
Amendment and Modification
Registration and Documentation
Zoning Compliance
Property Maintenance
Utilities and Services
Access Rights
Encumbrances
Termination
Survival
Confidentiality
Further Assurances
Time of Essence
Broker Fees
Relevant Industries
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Property Management
Urban Planning
Agriculture
Hospitality
Retail
Industrial
Commercial
Relevant Teams
Legal
Real Estate Operations
Property Management
Compliance
Risk Management
Business Development
Asset Management
Finance
Investment
Facilities Management
Acquisitions
Contract Administration
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Property Developer
Legal Counsel
Compliance Officer
Real Estate Broker
Title Officer
Property Assessor
Land Developer
Real Estate Investment Manager
Corporate Lawyer
Property Consultant
Real Estate Operations Manager
Contract Administrator
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