Deed of Sale of Real Property - Template, Sample Form

DEED OF ABSOLUTE SALE
OF REAL PROPERTY WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF ABSOLUTE SALE (the "AGREEMENT") is made and executed at the City/Municipality of _____________________, Province of _____________________, this day of _________________, by and between:

________, Filipino, of legal age, single, and with address at ________, hereinafter referred to as the "SELLER",

-and-

________, Filipino, of legal age, single, and with address at ________, hereinafter referred to as the "BUYER",

and are collectively known as the "PARTIES"

WITNESSETH:

WHEREAS, the SELLER is the registered owner of the following property:

A parcel of land, situated at ________ more particularly described as follows:

________ (the "PROPERTY")

WHEREAS, the SELLER desires to sell the PROPERTY to the BUYER and the BUYER desires to buy the same from the SELLER.

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor.

1. Purchase Price. The purchase price for the PROPERTY shall be ________ (₱________), the receipt of which is duly acknowledged by the SELLER.

2. Possession. The BUYER can take possession of the PROPERTY upon signing this Agreement.

3. Existing Mortgage. The SELLER has an existing mortgage with ________, (the "MORTGAGEE") as evidenced by the following document: ________, entered in the Notarial Register of the Notary Public: ________, and docketed as: Doc No.: ________, Page No.: ________, Book No.: ________, and Series No. ________, which is attached herewith. (the "EXISTING MORTGAGE")

4. Assumption of Mortgage. Starting on ________, the BUYER may assume the EXISTING MORTGAGE including all the obligations and duties imposed on the SELLER, as if the BUYER is the mortgagor in the EXISTING MORTGAGE.

Further, the BUYER shall be authorized by the SELLER to make transactions with the MORTGAGEE. The SELLER further agrees to extend any and other necessary assistance to effect the transfer of the PROPERTY and the assumption of the EXISTING MORTGAGE.

5. Liens and Encumbrances. The PROPERTY has the following liens and encumbrances:

________

6. Warranties. The SELLER hereby warrants and represents that:

a. The SELLER is the full and absolute owner of the PROPERTY with the requisite right, power, and authority to sell and convey the same to the BUYER;

b. The SELLER will defend that title and rights of the BUYER from any claims of whatsoever kind and nature.

7. Taxes and other costs. The transfer taxes, capital gains tax, documentary stamp tax and other fees and expenses arising out of or in relation to the registration and transfer of the title to the BUYER shall be paid and borne by the BUYER

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: ________________________ ________________________

________
Seller

________
Buyer

ACKNOWLEDGMENT

Republic of the Philippines
Province of _____________________ )
City or Municipality of _____________________ )S.S.

BEFORE ME, a Notary Public, for and in City or Municipality of _____________________, _____________________, this _______ day of _____________________, 20______, personally appeared the following persons:

1. ________, with the following competent proof of identification: Driver's License with number ________ which expires on ________

2. ________, with the following competent proof of identification: Driver's License with number ________ which expires on ________.

Lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat duis aute irure dolor in reprehenderit voluptate velit esse cillum dolore eu fugiat nulla pariatur lorem ipsum dolor sit amet consectetur adipiscing elit sed do eiusmod tempor incididunt ut labore et dolore magna aliqua ut enim ad minim veniam quis nostrud exercitation ullamco laboris.

_________________________ Notary Public

Doc. No. _________;
Page No. ________;
Book No. ________;
Series of ________.