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The Automobile Release Of Liability Form is a crucial legal document used in the Philippines when transferring ownership of a vehicle. This document serves as a formal declaration that releases the seller from any future responsibility or liability associated with the vehicle once it has been sold or transferred to a new owner. It is particularly important in the Philippine context, where vehicle-related liabilities can have significant legal and financial implications. The form should comply with requirements set forth in the Civil Code of the Philippines and the Land Transportation and Traffic Code, typically including comprehensive vehicle information, party details, and explicit release language. It's commonly used in both private sales and commercial transactions, requiring notarization to ensure legal validity and enforceability under Philippine law.

1. Parties: Identification of the Releasor (current owner/seller) and Releasee (buyer/new owner), including complete names, addresses, and contact information

2. Background: Brief context about the vehicle sale/transfer and purpose of the release of liability

3. Definitions: Clear definitions of key terms used in the document, including 'Vehicle', 'Liability', 'Effective Date', and other relevant terms

4. Vehicle Information: Detailed description of the vehicle including make, model, year, VIN/chassis number, plate number, and registration details

5. Release Statement: Clear and explicit statement releasing the seller from all future liability related to the vehicle

6. Effective Date: Specific date and time when the release of liability becomes effective

7. Representations and Warranties: Statements confirming the vehicle's condition and that both parties understand the implications of the release

8. Governing Law: Statement specifying that the agreement is governed by Philippine law

9. Execution: Signature blocks for both parties and notary public