Document background
The Real Property Contract is a fundamental legal instrument in Philippine property transactions, essential for documenting and formalizing the transfer of real estate ownership. This document is required whenever real property is bought, sold, or transferred in the Philippines, whether involving residential, commercial, or industrial properties. The contract must strictly comply with Philippine civil law requirements, including proper identification of parties, detailed property description, clear payment terms, and specific provisions required by local regulations. It serves as the primary evidence of the transaction and forms the basis for property registration with the Register of Deeds. The document must address unique aspects of Philippine property law, such as restrictions on foreign ownership of land and local government requirements. Whether used for simple residential transfers or complex commercial transactions, the Real Property Contract must be notarized and registered to be legally effective.
