Contract to Sell

CONTRACT TO SELL

KNOW ALL PERSONS BY THESE PRESENTS:

This Contract to Sell is made and entered into by and between:

seller's full name, age years old, Filipino, civil status, and residing at seller's address, hereinafter called the SELLER;

– and –

buyer's full name, age years old, Filipino, civil status, and residing at buyer's address, hereinafter called the BUYER.

WITNESSETH:

1. The SELLER is the registered owner of a parcel of land, lot number and location, with an area of area square meters, covered by title number of the Registry of Deeds, and more particularly described in that title (the "Property");
2. The SELLER agrees to sell, and the BUYER agrees to buy, the Property for the total price of amount in words (₱price), Philippine Currency, payable as follows:
   1. a down payment of amount in words (₱down payment), paid upon the signing of this contract, receipt of which the SELLER acknowledges; and
   2. the balance of amount in words (₱balance), in number monthly instalments of amount in words (₱monthly instalment) each, due on the day day of each month, the first instalment being due on date;
3. Ownership of the Property remains with the SELLER until the full price has been paid. Upon full payment, the SELLER shall execute a Deed of Absolute Sale in favor of the BUYER and deliver the Owner's Duplicate Copy of the title and the other documents needed to transfer the title to the BUYER;
4. Until full payment, the SELLER shall not sell, mortgage or otherwise encumber the Property to any other person;
5. The BUYER may take possession of the Property when. The BUYER shall not sell or assign rights under this contract without the written consent of the SELLER;
6. If the BUYER fails to pay any instalment, the BUYER shall have the rights given by Republic Act No. 6552 (the Realty Installment Buyer Protection Act), and the SELLER may cancel this contract only in the manner and after the notice that law provides;
7. The real property taxes on the Property from the date of this contract until full payment shall be paid by the party. On the final sale, the capital gains tax shall be paid by the SELLER, and the documentary stamp tax, transfer tax and registration fees by the BUYER, unless the parties agree otherwise in writing;
8. The SELLER warrants that the Property is free from all liens and encumbrances, and that the real property taxes on it have been paid up to the current year.

IN WITNESS WHEREOF, the parties have hereunto set their hands this ____ day of ______________ 20___ at city or municipality, Philippines.

SIGNED IN THE PRESENCE OF:

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES )
city or municipality ) S.S.

BEFORE ME, a Notary Public for and in city or municipality, this ____ day of ______________ 20___, personally appeared:

Name	Competent Evidence of Identity
seller's full name	ID type and number
buyer's full name	ID type and number

known to me and to me known to be the same persons who executed the foregoing Contract to Sell, and who acknowledged to me that the same is their free and voluntary act and deed.

This instrument, consisting of ____ pages including this page on which the acknowledgment is written, refers to the parcel of land covered by title number, and has been signed by the parties and their instrumental witnesses on each and every page.

WITNESS MY HAND AND SEAL on the date and at the place first above written.

Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 20___.