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Closed Deed Of Sale

Closed Deed Of Sale Template for Philippines

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Key Requirements PROMPT example:

Closed Deed Of Sale

"I need a Closed Deed of Sale for a commercial property in Manila, with installment payments over 12 months starting March 2025, including provisions for a broker's commission and specific conditions about existing tenant agreements."

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Document background
The Closed Deed of Sale is a crucial legal instrument in Philippine property transactions, used when there is an absolute and final transfer of property ownership. This document type is specifically required under Philippine civil law and must comply with the provisions of the Civil Code of the Philippines and related property laws. The deed contains comprehensive details about the property being sold, including its technical description, purchase price, and payment terms. A Closed Deed of Sale differs from a Contract to Sell as it represents the actual transfer of ownership, not just a promise to sell. The document requires proper notarization and must be registered with the Register of Deeds to be fully effective. It is commonly used in both residential and commercial property transactions, and its proper execution is essential for protecting the interests of both parties and ensuring the legal validity of the property transfer.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with complete legal names, civil status, citizenship, and addresses

2. Background: Brief context of the sale and statement of the Vendor's ownership and right to sell

3. Definitions: Key terms used throughout the deed, including Property, Purchase Price, Closing Date, etc.

4. Property Description: Detailed description of the property including lot number, location, boundaries, and certificate of title details

5. Consideration: Purchase price, payment terms, and method of payment

6. Warranties of the Vendor: Vendor's representations regarding property ownership, absence of liens, and authority to sell

7. Property Transfer: Terms of actual transfer of ownership and possession

8. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs

9. Execution Requirements: Notarization requirements and number of copies to be executed

Optional Sections

1. Broker's Commission: Include when a broker is involved in the transaction, detailing commission arrangements

2. Spousal Consent: Required when the property is conjugal or when seller is married

3. Conditions Precedent: Include when there are specific conditions that must be met before closing

4. Due Diligence: Include when buyer requires specific property inspections or document verification period

5. Holdback Provisions: Include when part of the purchase price is to be held in escrow

6. Property Inspection Results: Include when specific property inspections have been conducted and results need to be acknowledged

Suggested Schedules

1. Schedule A - Property Details: Technical description of the property, including lot plan, boundaries, and technical specifications

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms if not made in full at closing

3. Schedule C - Property Documents: List of all property-related documents transferred to the buyer

4. Schedule D - Tax Certificates: Copies of relevant tax clearances and certificates

5. Appendix 1 - Property Photos: Recent photographs of the property being sold

6. Appendix 2 - Transfer Documents: Forms and documents required for property registration transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions



































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Relevant Industries

Real Estate

Construction

Banking and Finance

Legal Services

Property Development

Agriculture (for agricultural land)

Commercial Property

Residential Property

Industrial Property

Hospitality

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Corporate Secretariat

Document Control

Risk Management

Finance

Operations

Business Development

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Broker

Compliance Officer

Legal Counsel

Contract Administrator

Real Estate Developer

Title Examiner

Property Assessor

Corporate Secretary

Real Estate Transaction Manager

Legal Document Specialist

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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