For advice on forms, you may contact J.A.B. Bulao & Associates at jabblaw@yahoo.com or send a message to Cell No. 09155205254. Our Address is at BSA Tower, 108 Legaspi St., Makati City (in front of Greenbelt 5).
DEED OF ABSOLUTE SALE
This Deed of Absolute Sale, made and entered into this __________________ at Makati City, Philippines, by and between:
MARCOS AND ASSOCIATES, with office address at Suite 1234 Tower One & Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City, represented in this act by the sole partners ATTY. RAMON MARCOS and ATTY. JUAN MARCOS, hereinafter referred to as the “SELLERS”
– and –
SXS HOLDINGS, INC., a domestic corporation, duly organized and existing under Philippine laws with address at __________________________________, represented in this act by _________________, hereinafter referred to as the “BUYER”
WITNESSETH: that-
WHEREAS, the SELLERS is the legal registered owner of Unit No. 1111 with Parking Unit No. C-1111 and Unit 2222 with Parking Unit No. C-2222 located at the 44th Floor, Ayala Triangle, Tower I, Ayala Avenue, Makati City, respectively covered by Condominium Certificate of Title Nos. 8555 and 8556 issued by the Register of Deeds of Makati City (hereinafter referred to as the “PROPERTY”), more particularly described as follows:
Condominium Certificate of Title No. 85555
Register of Deeds for Makati City
“Unit 1111 with Parking Unit No. C-1111, located on the fourteenth floor of the AYALA TRIANGLE TOWER I, with a Net floor area of 95.00, common area of 26.20 and a total area of 121.20”.
Condominium Certificate of Title No. 85556
Register of Deeds for Makati City
“Unit 2222 with Parking Unit No. 2222, located on the fourteenth floor of the AYALA TRIANGLE TOWER I, with a Net floor area of 100.00, common area of 27.60 and a total area of 127.60”.
WHEREAS, the SELLERS wishes to sell and the BUYER has agreed to purchase the PROPERTY free from all liens and encumbrances of any kind and nature;
NOW, THEREFORE, for and in consideration of the foregoing premises and more particularly for the price of THIRTEEN MILLION PESOS (PHP13,000,000.00), Philippine Currency, the receipt whereof is hereby acknowledged from the BUYER to the entire satisfaction of the SELLERS, the said SELLERS does hereby sell, transfer and convey in a manner absolute and irrevocable unto the said BUYER, their heirs and assigns, the said PROPERTY including all the rights and interests in the
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common areas, and the interests in the condominium corporation appurtenant to such PROPERTY, and subject further to:
a) The provisions of the Condominium Act;
b) The Master Deed with the Declaration of Restrictions;
c) The Articles of Incorporation and the By-Laws of the condominium corporation;
d) The restrictions, limitations and easements of record;
e) The zoning or other restrictions upon the use of the property as may be imposed by the Government and other government authorities having jurisdiction over the same.
The payment of the capital gains tax due on the sale of the Property shall be for the sole account of the SELLERS. The documentary stamp taxes on the sale of the Property from the SELLERS to the BUYER, transfer tax and the expenses for registration of the Property in the name of the BUYER shall be for the sole account of the BUYER.
IN WITNESS HEREOF, we have hereunto set our hands on the date and at the place first indicated above.
MARCOS AND ASSOCIATES SXS HOLDINGS, INC.
Sellers Buyer
By: By: _____________________
_____________________
ATTY. RAMON MARCOS
Partner
ATTY. JUAN MARCOS
Partner
SIGNED IN THE PRESENCE OF
_______________________ _______________________
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ACKNOWLEDGMENT
Republic of the Philippines)
Makati City ) S.S.
BEFORE ME, a Notary Public for and in the above-indicated locality, on this ____________________ personally appeared:
NAME: RES. CERT. NO./ DATE/PLACE ISSUED: Passport No.
ATTY. RAMON
MARCOS _________________ __/__/__/_____________
ATTY. JUAN
MARCOS _________________ __/__/__/_____________
SXS HOLDINGS, INC. _________________ __/__/__/_____________
________________________ _________________ __/__/__/_____________
known to me and to me known to be the same persons who executed the foregoing Deed of Absolute Sale and acknowledged to me that the same is their free and voluntary act and deed.
I HEREBY CERTIFY that this instrument which consists of three (3) pages, including this page whereon this Acknowledgement is written, have been signed by the parties and their instrumental witnesses on the appropriate spaces on page two (2) and on the left margin of the other pages, and refers to the Deed of Absolute Sale covering two condominium units located at the 14TH Floor of Ayala Triangle, Tower 1, Ayala Avenue, Makati City, Philippines and covered by Condominium Certificate of Title Nos. 85306 and 85307, issued by the Register of Deeds of Makati City
WITNESS MY HAND AND SEAL on the date and at the place first above-written.
Doc. No. _____;
Page No. _____;
Book No. _____;
Series of ______.
Dear Atty
Would really appreciate for any advice you could give. At the time of my application to purchase a condo in manila I wasnt separated then from my husband, so of course the unit is both in our names. Six months ago, we decided to part and he has signed a quit claim deed, giving up his condo interest and rights to me. We have the Deed notarized/consularized as we both live abroad. I am continuing the repayments myself and I am now on my 7-month repayment. The loan is bank financed for 5years, also both in our names. Please advice as to where to lodge this quit claim deed, to the developer, to the bank or to the Registry of Deeds? I would like the title of condo certificate to have my name only.
I’ll drop by your office on my next visit to philippines and personally meet you Atty!
My thanks, Lou
Dear Lourdes,
Spouses cannot donate or sell property to each other. The deed giving you full rights to the condo is not legal. If it was a special power of attorney giving you right to sell the same to a third party, it is legal. If you want to divide conjugal properties among yourself then you have to go to court and file dissolution of conjugal partnership and thus divide the properties among yourselves. The condo can go touo you. Or he may give all to you. But it must have a court approval.
Atty. Bulao
I have sent you an email Atty. Hope to hear further advice from you. Thank you.
Hi! Atty,
I just bought a condo unit from Phinma properties that is financed thru Pag-ibig housing loan for 25 years. I’m now on my 24th month of payment. I wish to sell the condo unit to one of my neighbors in the condo building. Arrangement is to pay me the 24 months I already paid Pag-ibig and the buyer will continue and assume the condo unit balance fro Pag-ibig. What Deed of Sale form shall I use. I would appreciate if you could give me your advise on the matter. thank you!
Regard.
rene
rene,
you need to execute a deed of absolute sale with assumption of mortgage. but get first the consent of PAG-IBIG. the parties will sign certain forms per their requirements.
atty. bulao
Well,
Atty. is somewhere or whatever until we meet him in his office but maybe he’s not there either until we put our aces down on the table then tah dah by magic he appears, my dear! Still, his responses on my first problem was confirmed with the fact that even my boses at E.U. who were lawyers themselves said the same thing. Wish you luck if he responds.
Jenali
Wow, that’s even worst! at least I didn’t put even a peso down but I’m coming home next year and would ask you to look at and make arrangements for a new deal with a condo owner for a direct sale in cash so no more hulaboo, my cousin a lawyer also in Makati will look at all documents before my arrival that way everything should be in order by then. My promise of champayne is never forgotten.
Best regards,
Jenali
Hello Atty. Bulao,
We purchased a unit from Victoria Towers in Panay Ave QC. Our housing loan from BPI has been approved since February but to date, the developer – New San Jose Builders cannot furnish us with the Deed of Sale, which is the only missing document to complete the process.
Whenever we follow-up from them (on a regular basis), we always get lame excuses that its “under-process”. Rumor has it, that the project is under mortgage, hence they do not have a Deed of Sale on-hand. Can this assumption be true?
We are so frustrated already that we are thinking of terminating the purchase. We have already paid around 2M total unit cost is 4.1M. Can we possibly demand for a full-refund, considering that the negligence is fully on their part? We NEVER had any delinquent accounts since day 1…
Your sound advice would be greatly appreciated…
abby,
i just arrived from a pilgrimage. i will email you soon.
atty. bulao
Dear sir,
I want to buy a unit directly from the owner but he says he cannot change his residence certificate adrress which is on that unit until we both sign a contract with my downpayment. I am worried about this as his name would be tied up with the property even if I make a downpayment. Is he allowed to live there even when I put a downpayment? Could you give me advice on this please?
I’m the same person who posted questions regarding” who owns the unit” and as it is over now could you kindly erase it?
I promised you something before but I can’t be in Manila until I’m sure that I have a sound agreement to buy a unit and I would need you to fix the legalities of the contract.
Thank you for your response.
Jenali
Dear Jenali,
I am into several meetings until tonite. I will give you response soon.
Atty. Bulao
Dear Atty. Bulao,
I read your response to my question but I’m still confused so I’ll re-phrase my questions in simple
terms. Here it is…
John and Mary in 2004 are in a boyfriend/girlfriend relationship, then John paid for a condo unit
in cash but put Mary on the title of the unit, John only put his name on the list of owners of the
building. A few years later, they broke up. Now John wants to sell the unit without the knowledge
of Mary. Is that possible? Can John transfer the title to his name using notarized affidavits that
shows he was paying the dues and taxes since the unit was bought? The title from the Re-
gistry of Deeds is clean, no annotations, no mortgages etc. but in the name of Mary, also there
was no legal agreement between them. Thanks again for your response.
Jennifer
Dear Jennifer,
John cannot sell the unit without the participation of Mary, i.e. Mary must sign the deed of conveyance. John cannot also transfer the title using only notarized affidavits that show he was paying the dues and taxes. Transfer requires a notarized deed of conveyance from whoever is the registered owner to the buyer.
Atty. Bulao
Dear Atty. Bulao,
You might not know me but I want you to know how grateful I am for your answers, I was
right all along that there is no short cut regarding the transfer of properties and if there is
then…. of course it is FAKE! People in between were pushing me to buy the said unit but I
resisted due to the fact that the person on the title won’t be present or notified of the sale.
I owe you a bottle of champayne when I get back to Manila. Thanks a million and wish you
great success in your career!
Best regards,
Jenali
Jenali,
You are most welcome. If you visit Makati, drop by the office if you have time. We are just in front of Greenbelt 5.
Atty. Bulao
Dear Atty,
The real owner is actually Mr. X and he just entrust his property to his girlfriend but all payment in terms of related bills of the unit is paid for Mr. X.
Mr. X is holding the title and not the title owner since it was just entrust to her. Now, they were separated long time ago and had no contact or communication between them.
Mr. X has no option but to transfer the title under his ownership.
My question,is this action is legal or legitimate?
Thank you and God bless.
Dear Gel,
Mr. X cannot transfer the title to his name unless he presents to the Register of Deeds a deed of conveyance signed by his girlfriend, who is the registered owner. Some just submit a fake deed of sale. But this is not legal.Mr. X must look for the girlfriend and convince her to sign the deed of conveyance.
Atty. Bulao
Hi,
Who is the real owner of a condo unit ? Is it that person who’s name is on the title? Or is it
the person on the list of codominium owners? I’m talking of the same condo unit with 2
people on different documents. Thanks
jennifer,
The person whose name appears in the title is the owner as far as the whole world is concerned except if there is an annotation in the title that such condominium unit was already conveyed to another either by sale, donation, etc.
Suppose the registered owner has already sold the condominium unit to X and in some lists X appears therein as the owner, will that list now constitute evidence of ownership. No. But the deed of sale is evidence that the real owner is now X. That evidence is however binding only between the registered owner and X and whoever has personal knowledge of the sale. As to third parties the presumed owner is still the one appearing in the title.
Can X transfer the unit to his name. Yes, by paying the transfer-related taxes and submitting the owner’s copy of the title, deed of sale and tax clearances to the Register of Deeds.
I hope I have answered your questions.
Atty. Bulao
Who owns the condo unit? Is it the person on the title or the person on the list of condominium
owners? And it possible for the person on the list of owners to transfer the title to himself without
proper consultation with the person who hold the title? Thanks a million for your response.