There are different types of deeds of sale depending on the asset being sold:
1. Absolute Deed of Sale This document signifies that the full payment has been made and ownership has been transferred unconditionally. There are no remaining conditions or obligations, and the buyer gains full rights over the asset.
2. Conditional Deed of Sale Ownership transfer is subject to certain conditions, such as installment payments, pending documentation, or other obligations. The sale is only considered final once the specified conditions are met.
3. Real Estate Deed of Sale Used for property transactions, this includes details such as land title numbers, location, property dimensions, and encumbrances (if any). In many jurisdictions, a real estate deed of sale must be notarized and registered with the local land registry to be legally binding.
4. Vehicle Deed of Sale Commonly used for selling cars, motorcycles, or other motor vehicles, this document includes details like the chassis number, engine number, plate number, and registration details. Some regions require additional documents such as a clearance from relevant transport authorities.
Key Elements of a Deed of Sale A legally valid deed of sale should include the following:
Title – Clearly stating that the document is a “Deed of Sale.”Date of Transaction – The date when the sale is executed.Parties Involved – Full legal names, addresses, and identification details of the buyer and seller.Description of the Asset – Detailed information about the asset being sold, including serial numbers, size, specifications, and any unique identifiers.Sale Price – The agreed amount for the sale, expressed in words and figures to prevent discrepancies.Payment Terms – Whether the payment is in full or installments, including due dates and agreed methods of payment.Signatures – Signatures of both parties and witnesses, verifying mutual agreement.Notarization – Some jurisdictions require the document to be notarized for legal enforcement.Warranties and Liabilities – A section outlining any warranties provided by the seller and potential liabilities assumed by the buyer.Transfer of Ownership Clause – A clear statement indicating when ownership officially transfers from the seller to the buyer. REPUBLIC OF THE PHILIPPINES PROVINCE OF [Province] CITY/MUNICIPALITY OF [City/Municipality]
DEED OF ABSOLUTE SALE This Deed of Absolute Sale is made and executed this [Date] at [Location], Philippines, by and between:
SELLER , [Full Name], of legal age, Filipino, single/married, with residence at [Address], hereinafter referred to as the “SELLER”;
BUYER , [Full Name], of legal age, Filipino, single/married, with residence at [Address], hereinafter referred to as the “BUYER”;
WITNESSETH:
WHEREAS, the SELLER is the lawful and absolute owner of a certain property described as follows:
PROPERTY DESCRIPTION:
Type: [Type of Property, e.g., Vehicle, Real Estate, Equipment] Identification No.: [Chassis No., Serial No., Title No., etc.] Location: [Complete Address or Location] Additional details: [Any unique identifying features] NOW, THEREFORE, for and in consideration of the total sum of [Amount in Words] ([Amount in Figures]) Philippine Pesos, paid in full by the BUYER to the SELLER, the SELLER does hereby SELL, TRANSFER, and CONVEY, by way of absolute sale, unto the BUYER, his/her heirs, successors, and assigns, the above-described property, free from all liens and encumbrances.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this [Date] at [Location], Philippines.
SELLER:
BUYER:
SIGNED IN THE PRESENCE OF:
[Signature] [Printed Name] [Signature] [Printed Name] ACKNOWLEDGMENT REPUBLIC OF THE PHILIPPINES )
BEFORE ME, a Notary Public for and in the City/Municipality of [Location], this [Date], personally appeared:
[Seller’s Name] , with valid government-issued ID No. [ID Number], known to me and to me known to be the same person who executed this Deed of Sale.[Buyer’s Name] , with valid government-issued ID No. [ID Number], known to me and to me known to be the same person who executed this Deed of Sale. Both parties have acknowledged that this document is their free and voluntary act and deed.
WITNESS MY HAND AND SEAL this [Date] at [Location], Philippines.
Notary Public
DEED OF SALE KNOW ALL MEN BY THESE PRESENTS:
This Deed of Sale is made and executed this [Date] at [Location] by and between:
SELLER: [Full Name], of legal age, [Nationality], with residence at [Address], holder of [ID Type] with ID Number [ID Number].
BUYER: [Full Name], of legal age, [Nationality], with residence at [Address], holder of [ID Type] with ID Number [ID Number].
WHEREAS, the Seller is the legal and absolute owner of the property described as follows:
Property Details:
Type: [Property Type, e.g., Vehicle, Land, House] Identification Number: [VIN, Title Number, Serial Number] Location: [Address or Registered Location] Other Relevant Details: [Any Specific Features, Liens, or Conditions] NOW, THEREFORE, for and in consideration of the total sum of [Amount in Words and Figures], which has been fully paid by the Buyer to the Seller, the Seller does hereby absolutely and unconditionally sell, transfer, and convey to the Buyer the above-described property.
The Seller further warrants that the said property is free from any encumbrances, claims, or liabilities of any kind.
IN WITNESS WHEREOF, the parties have signed this document on this [Date] at [Location].
SELLER:
BUYER:
Witnesses:
[Signature] [Printed Name] [Signature] [Printed Name] Free Deed of Sale Sample and Template Download our free Deed of Sale template in both Word PDF
1. Is a Deed of Sale legally binding? Yes, a Deed of Sale is legally binding as long as it is signed by both parties and meets the legal requirements in your jurisdiction.
2. Do I need a lawyer to draft a Deed of Sale? While it is not always required, having a lawyer review the document ensures legal compliance and protection against potential disputes.
3. Is notarization required for a Deed of Sale? In many cases, notarization is required to make the document legally enforceable, especially for real estate transactions.
4. What should I do after signing a Deed of Sale? After signing, the document should be notarized (if applicable) and submitted to the relevant government office for registration and ownership transfer.
5. Can a Deed of Sale be revoked? A Deed of Sale can be revoked under specific conditions, such as fraud, misrepresentation, or failure to meet agreed terms.
A Deed of Sale is a crucial document in any property or asset transaction. Ensuring all necessary details are included and correctly documented can prevent disputes and legal issues in the future. Always consult a legal professional when drafting or signing a Deed of Sale for added security.
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