KNOW ALL MEN BY THESE PRESENTS:
This DEED OF ABSOLUTE SALE is made and executed this ___
day of ____________, 2024, at __________________, Philippines, by and
between:
MR. X X X X, of legal age, Filipino, with residence at
_______________________________, hereinafter referred to as the
"SELLER";
-AND-
DR. X X X X, of legal age, Filipino, with residence at Purok 8, Tolosa,
Cabadbaran City, Agusan del Norte, hereinafter referred to as the
"BUYER";
WITNESSETH:
WHEREAS, the SELLER is the lawful owner of a motor vehicle, which
he acquired from MR. ROGER X X X X as evidenced by a Deed of Sale
executed between them dated ____________;
WHEREAS, the motor vehicle described as follows:
- Make : Mitsubishi (SEDAN 4-Door )
- Year/Model : 1995
- Plate Number : TLDX X X
- Engine Number :XXXX
- Chassis Number : x x x x
- Certificate of Registration (CR) No.: _____________
- Official Receipt (OR) No.: 1017-00000008598654
(hereinafter referred to as the "MOTOR VEHICLE")
is registered in the name of MR. ROGER X X X X with the Land
Transportation Office (LTO) of the Philippines;
WHEREAS, the SELLER has agreed to sell, transfer, and convey
the above-mentioned MOTOR VEHICLE to the BUYER for a total
consideration of One Hundred Fifteen Thousand Pesos (₱115,000.00),
Philippine Currency, and the BUYER has agreed to purchase the same
under the terms and conditions hereinafter set forth;
NOW THEREFORE, for and in consideration of the sum of One
Hundred Fifteen Thousand Pesos (₱115,000.00), Philippine Currency,
receipt of which is hereby acknowledged by the SELLER, the SELLER
does hereby SELL, TRANSFER, and CONVEY, absolutely and
unconditionally, unto the BUYER, his heirs, successors, and assigns, the
above-described MOTOR VEHICLE, free and clear of any and all liens
and encumbrances.
THE PARTIES HEREBY AGREE TO THE FOLLOWING TERMS AND
CONDITIONS:
1. The SELLER undertakes to furnish the BUYER with a copy of the
Deed of Sale between him and Mr. Roger X X X Xto establish his
legal ownership and right to sell the MOTOR VEHICLE. The SELLER
guarantees that he is the lawful owner of the MOTOR VEHICLE.
2. The SELLER shall be responsible for assisting the BUYER in
facilitating the transfer of ownership of the MOTOR VEHICLE from Mr.
Roger X X X Xto the SELLER, and thereafter from the SELLER to the
BUYER, with the Land Transportation Office (LTO). The SELLER agrees
to sign any and all documents necessary to effect such transfer and to
cover any penalties that may be incurred due to delays in the
registration of the vehicle under his name.
3. The SELLER warrants and represents that the MOTOR VEHICLE is
free from any liens, encumbrances, or adverse claims and that no
other person or entity has any claim, right, or interest over the MOTOR
VEHICLE. Should any third-party claims arise regarding the ownership
or possession of the MOTOR VEHICLE, the SELLER shall indemnify and
hold the BUYER free and harmless from any such claims.
4. The SELLER shall deliver to the BUYER, at the time of execution of
this Deed of Sale, the following documents:
- Original Official Receipt (OR) and Certificate of Registration
(CR) of the MOTOR VEHICLE issued in the name of Mr. Roger x
x x x;
- Copy of the Deed of Sale between the SELLER and Mr. Roger
xxx;
- Any other documents required for the transfer of ownership
with the LTO.
5. The SELLER guarantees that there are no outstanding registration
fees, penalties, or other obligations owed to the LTO for the MOTOR
VEHICLE as of the date of sale. Should there be any such outstanding
obligations, the SELLER shall be responsible for paying these fees and
penalties.
6. Should the transfer of ownership from Mr. Roger X X X Xto the
SELLER, and subsequently from the SELLER to the BUYER, be rendered
impossible due to any legal issues, the BUYER shall have the right to
rescind this contract and demand a full refund of the purchase price,
with interest of six percent (6%) per annum, without prejudice to any
further remedies available under the law.
7. This Deed of Sale shall be governed by and construed in accordance
with the laws of the Republic of the Philippines.
IN WITNESS WHEREOF, the parties hereto have hereunto set
their hands this ___ day of ___________, 2024, at ______________,
Philippines.
__________________________ __________________________
XXXX xx x
Seller Buyer
ID No.:__________ ID No.:__________
SIGNED IN THE PRESENCE OF:
_____________________________ _____________________________
[Name of Witness] [Name of Witness]
ACKNOWLEDGMENT
Republic of the Philippines)
Cabadbaran City ) S.S.
BEFORE ME, a Notary Public for and in the above jurisdiction,
this ___ day
Page No. ____;
Book No. ____;
Series of 2024.
