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.
NOW THEREFORE, for and in consideration of the foregoing premises and mutual covenants herein contained, the SELLER hereby absolutely and unconditionally, sells, assigns, conveys and transfers upon the BUYER and its successors and assigns, the PROPERTY described above, as follows:
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 2558555 WHEREOF, 252 2552828 5582 52525222 5228525 25285 8822525528 22 252 5522 525 28582 28582 825225 58282.
________
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 ________.
888 22282 22 22 22 22 525 22 22 22282 22 82 252 8522 2258228 852 25285225 252 225222822 8558 82 88582555 5825 525 2522 582228825225 22 22 2552 252 8522 88 25285 2522 525 828522552 582 525 5225.
58 555552888 2858582, 5 5582 52525222 822 22 5525 525 5228525 22 22255858 8258 22 252 5522 525 52 252 28582 8582222 58282.
Doc. No. _________;
Page No. ________;
Book No. ________;
Series of ________.
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.
NOW THEREFORE, for and in consideration of the foregoing premises and mutual covenants herein contained, the SELLER hereby absolutely and unconditionally, sells, assigns, conveys and transfers upon the BUYER and its successors and assigns, the PROPERTY described above, as follows:
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 2558555 WHEREOF, 252 2552828 5582 52525222 5228525 25285 8822525528 22 252 5522 525 28582 28582 825225 58282.
________
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 ________.
888 22282 22 22 22 22 525 22 22 22282 22 82 252 8522 2258228 852 25285225 252 225222822 8558 82 88582555 5825 525 2522 582228825225 22 22 2552 252 8522 88 25285 2522 525 828522552 582 525 5225.
58 555552888 2858582, 5 5582 52525222 822 22 5525 525 5228525 22 22255858 8258 22 252 5522 525 52 252 28582 8582222 58282.
Doc. No. _________;
Page No. ________;
Book No. ________;
Series of ________.
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