[Note: The following is a sample Deed of Absolute Sale tailored for the Philippine setting. 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
KNOW ALL MEN BY THESE PRESENTS:
This Deed of Absolute Sale, 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 the absolute and registered owner of a certain real property, 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 BUYER has expressed a desire to purchase the said property, and the SELLER has agreed to sell the same under the terms and conditions herein stipulated;
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.
- Default: In the event of default by any Party, the defaulting Party shall be liable for all damages, losses, and expenses incurred by the non-defaulting Party, including attorney’s fees.
- Governing Law: This Deed of Absolute Sale 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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