DEED OF ABSOLUTE SALE
OF A MOTOR VEHICLE
KNOW ALL MEN BY THESE PRESENTS:
This DEED OF ABSOLUTE SALE (the “Deed”) is made and executed at the City/Municipality of ________, Province of ________, this ________ day of ________, by and between:
________, Filipino, of legal age, with civil status of ________, holding Tax Identification No. ________, and with residence and postal address at ________, hereinafter referred to as the SELLER;
-and-
________, Filipino, of legal age, with civil status of ________, holding Tax Identification No. ________, and with residence and postal address at ________, hereinafter referred to as the BUYER.
(The SELLER and the BUYER are hereinafter sometimes referred to individually as a “Party” and collectively as the “Parties.”)
WITNESSETH: That —
WHEREAS, the SELLER is the lawful and registered owner of a motor vehicle (the “Motor Vehicle”) as evidenced by Land Transportation Office Certificate of Registration No. ________ and Official Receipt No. ________, copies of which are attached hereto and made integral parts hereof, the said Motor Vehicle being more particularly described as follows:
Make: ________
Series: ________
Type of Body: ________
Year Model: ________
Motor No.: ________
Serial or Chassis No.: ________
Plate No.: ________
Color: ________;
WHEREAS, the SELLER desires to sell, transfer, and convey the Motor Vehicle unto the BUYER, and the BUYER desires to purchase and acquire the same from the SELLER, under the terms and conditions hereinafter set forth.
NOW, THEREFORE, for and in consideration of the foregoing premises and of the purchase price hereinafter stipulated, and pursuant to the pertinent provisions of the Civil Code of the Philippines (Republic Act No. 386), particularly Articles 1458 to 1637 thereof on Contracts of Sale, the Parties hereby covenant and agree as follows:
§ 1. Sale and Conveyance. The SELLER, for value received, hereby SELLS, TRANSFERS, ASSIGNS, and CONVEYS, absolutely and unconditionally, unto the BUYER, his/her heirs, successors, and assigns, all the SELLER’s rights, title, interest, and participation in and to the Motor Vehicle above-described, free and clear of any lien, mortgage, charge, or encumbrance of whatever kind.
§ 2. Purchase Price. The total purchase price for the Motor Vehicle is ________ (₱________), Philippine Currency, the full receipt of which to the SELLER’s entire and complete satisfaction is hereby acknowledged and confessed.
§ 3. Delivery. The SELLER shall deliver the Motor Vehicle, together with its Certificate of Registration, Official Receipt, and all other documents evidencing ownership, to the BUYER upon the signing of this Deed at:
________.
Ownership of and risk of loss over the Motor Vehicle shall pass to the BUYER upon such delivery, in accordance with Articles 1496 to 1504 of the Civil Code of the Philippines.
§ 4. Warranties of the SELLER. The SELLER hereby warrants and represents unto the BUYER that:
(a) The SELLER is the true, lawful, and absolute owner of the Motor Vehicle and possesses the full right, power, and authority to sell, transfer, and convey the same;
(b) The Motor Vehicle is free and clear from any and all liens, encumbrances, claims, mortgages, chattel mortgages, attachments, or adverse interests of whatever nature; should any exist, the SELLER shall answer for and discharge all liabilities arising therefrom, and in the event the SELLER fails to do so, the BUYER shall have the right to rescind this Deed pursuant to Article 1191 of the Civil Code, without prejudice to damages;
(c) The SELLER warrants against eviction and against hidden faults or defects in the Motor Vehicle pursuant to Articles 1547, 1548, and 1561 of the Civil Code, and shall defend the title and peaceful possession of the BUYER against any and all claims of whatever kind and nature;
(d) The SELLER shall execute and deliver to the BUYER any and all documents, and shall perform such further acts, as may be necessary or proper to effect the transfer of the registration and ownership of the Motor Vehicle to the BUYER before the Land Transportation Office.
§ 5. Taxes and Registration Expenses. All taxes, fees, and expenses incident to this sale and to the transfer of registration of the Motor Vehicle, including but not limited to the documentary stamp tax and transfer fees, shall be for the account of ________, unless otherwise provided by law.
§ 6. Entire Agreement. This Deed constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and representations, whether oral or written.
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§ 8. Separability. Should any provision of this Deed be declared invalid or unenforceable, the remaining provisions shall continue in full force and effect.
§ 9. Governing Law and Venue. This Deed shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Any dispute arising herefrom shall be brought exclusively before the competent courts of ________, to the exclusion of all other venues.
IN WITNESS WHEREOF, the Parties have hereunto affixed their signatures on the date and at the place first above written.
________
SELLER
________
BUYER
SIGNED IN THE PRESENCE OF:
________ ________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
________, ________ ) S.S.
BEFORE ME, a Notary Public for and in the above jurisdiction, this ________ day of ________, 20________, personally appeared the following persons, exhibiting to me their respective competent evidence of identity as defined under the 2004 Rules on Notarial Practice:
1. ________, with competent evidence of identity consisting of ________ No. ________ issued at ________ on ________;
2. ________, with competent evidence of identity consisting of ________ No. ________ issued at ________ on ________.
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This instrument, consisting of ________ pages, including the page on which this acknowledgment is written, has been signed on each and every page thereof by the Parties and their instrumental witnesses, and refers to a Deed of Absolute Sale of a Motor Vehicle.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my notarial seal on the date and at the place above written.
________
NOTARY PUBLIC
Doc. No. ________;
Page No. ________;
Book No. ________;
Series of ________.