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The Conditional Deed of Sale With Assumption of Mortgage is a specialized legal document used in Philippine real estate transactions where a property is sold while encumbered by an existing mortgage. This document is particularly useful when buyers prefer to assume existing mortgage terms rather than securing new financing, or when sellers wish to be released from their mortgage obligations. The document incorporates conditions precedent, particularly the mortgagee's consent, and details both the property sale and mortgage assumption terms. It must comply with Philippine property laws, banking regulations, and registration requirements, making it a complex instrument that requires careful drafting and execution. The document typically includes comprehensive details about the property, existing mortgage terms, payment arrangements, and the specific conditions under which the sale becomes final.

1. Parties: Identification of the Seller (current property owner), Buyer (purchaser assuming mortgage), and Mortgagee (lending institution)

2. Background: Recitals describing the property ownership, existing mortgage details, and intention to sell with mortgage assumption

3. Definitions: Key terms used throughout the deed including Property, Mortgage, Purchase Price, Outstanding Mortgage Amount

4. Property Description: Detailed description of the property being sold, including lot number, technical description, and certificate of title details

5. Purchase Price and Payment Terms: Total purchase price, payment structure, and breakdown of equity payment and assumed mortgage amount

6. Mortgage Assumption Terms: Terms and conditions of the mortgage assumption, including remaining balance, interest rate, and payment schedule

7. Conditions Precedent: Prerequisites that must be fulfilled before the sale becomes final, including mortgagee's consent and documentary requirements

8. Representations and Warranties: Declarations by all parties regarding their capacity, authority, and property status

9. Rights and Obligations: Detailed responsibilities of each party during and after the transaction

10. Transfer of Rights: Process and timing of the transfer of property rights and assumption of mortgage obligations

11. Default and Remedies: Consequences and available remedies in case of default by any party

12. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes

13. Execution: Formal signing section with notarial acknowledgment