Document background
The Contract to Sell Land is a fundamental document in Philippine real estate transactions, used when a seller agrees to transfer land ownership to a buyer upon completion of payment. This differs from a Deed of Absolute Sale as it does not immediately transfer title. The document is particularly useful in installment sales of real property, providing protection for both seller and buyer under Philippine law. It must comply with the Civil Code, Property Registration Decree, and local regulations, and requires notarization. The contract includes detailed property descriptions, payment terms, conditions for title transfer, and remedies for default, making it essential for both residential and commercial property transactions.
