Document background
The Real Estate Sale Contract By Owner is a crucial legal instrument used in the Philippines for direct property transactions where the owner chooses to sell their property without a broker's involvement. This document is essential when property owners want to maintain direct control over the sale process while ensuring legal compliance. It incorporates requirements from the Civil Code of the Philippines, Property Registration Decree, and local government regulations. The contract is designed to protect both seller and buyer interests by clearly stating all terms of sale, payment conditions, and transfer procedures. It's particularly relevant in the Philippine context where property transactions must comply with specific local requirements, including proper notarization, witness attestation, and registration with appropriate government authorities. The document must address unique aspects of Philippine property law, including restrictions on foreign ownership and local tax obligations.
