[Note: The following is a sample Deed of Absolute Sale with Extra Judicial Settlement. However, please consult with a legal professional to ensure compliance with current laws and regulations, as well as to customize the deed to specific circumstances.]
DEED OF ABSOLUTE SALE WITH EXTRA JUDICIAL SETTLEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Deed of Absolute Sale with Extra Judicial Settlement is made and executed on this ____ day of _______, 20, by and between:
SELLER: Name: [Seller’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal age Residential Address: [Complete Residential Address] Tax Identification Number (TIN): [TIN Number]
And
BUYER: Name: [Buyer’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal age Residential Address: [Complete Residential Address] Tax Identification Number (TIN): [TIN Number]
Collectively referred to as the “PARTIES.”
WITNESSETH, that:
WHEREAS, the SELLER is one of the lawful heirs and beneficiaries of the Estate of the late [Name of the deceased], who died intestate on [Date of death], and who was survived by the following lawful heirs, to wit:
[Name and Relationship to the deceased of each lawful heir]
WHEREAS, the said heirs, including the SELLER, have executed an Extra Judicial Settlement of the Estate of the late [Name of the deceased], dividing and adjudicating among themselves the real property described below;
WHEREAS, as a result of the said Extra Judicial Settlement, the SELLER has been duly adjudicated the absolute ownership and title over a certain parcel of land, situated in the City/Municipality of [City/Municipality], Province of [Province], Philippines, particularly described as follows:
(Insert Property Description here, including the title information, lot number, boundaries, and technical details as per the Transfer Certificate of Title or Tax Declaration.)
WHEREAS, the SELLER has agreed to sell and transfer the aforementioned real property to the BUYER, who has expressed a desire to purchase the same;
NOW, THEREFORE, for and in consideration of the total sum of [Purchase Amount in words and figures] Philippine Pesos (PHP ________), paid by the BUYER to the SELLER, the receipt and sufficiency of which is hereby acknowledged, the SELLER hereby SELLS, TRANSFERS, and CONVEYS, by way of Absolute Sale, unto the BUYER, his/her heirs, successors, and assigns, the aforementioned real property, together with all the improvements found thereon.
The BUYER hereby acknowledges that he/she has thoroughly inspected the said property and accepts it on an “as-is, where-is” basis, assuming full responsibility for any existing defects, hidden faults, or encumbrances known or unknown at the time of this sale.
The Parties further declare and agree to the following terms and conditions:
- Transfer of Ownership: The SELLER agrees to transfer the ownership of the property to the BUYER upon the execution of this Deed of Absolute Sale and payment of the agreed purchase price.
- Documentary Requirements: The Parties shall jointly prepare and execute all necessary documents, including but not limited to a Deed of Sale, Certificate Authorizing Registration (CAR), and other instruments required by the Register of Deeds for the registration of this sale.
- Taxes and Expenses: The BUYER shall be responsible for all taxes, fees, and expenses related to the transfer of ownership, including but not limited to the Capital Gains Tax, Documentary Stamp Tax, Registration Fees, and other incidental expenses.
- Governing Law: This Deed of Absolute Sale with Extra Judicial Settlement shall be governed by and construed in accordance with the laws of the Republic of the Philippines.
IN WITNESS WHEREOF, the PARTIES have hereunto set their hands on the date and place first above written.
[Seller’s Full Name and Signature] Seller
[Buyer’s Full Name and Signature] Buyer
SIGNED IN THE PRESENCE OF:
[Witness 1 Name and Signature] Address: ___________________
[Witness 2 Name and Signature] Address: ___________________
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