Deed of Sale by Pacto de Retro

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Deed of Sale by Pacto de Retro

By | March 2009
Page 1 of 3
DEED OF SALE BY PACTO DE RETRO

KNOW ALL MEN BY THESE PRESENTS:

This DEED OF SALE BY PACTO DE RETRO made and executed between:

__________________, of legal age, single, Filipino, and with residence and postal address at Candanay Sur, Siquijor, Siquijor, Philippines hereinafter called the VENDOR;

- AND -

________________, of legal age, married to ALBERT MAGHANOY both Filipinos, and with residence and postal address at Pangi, Siquijor, Siquijor hereinafter called the VENDEE;

WITNESSETH:

The VENDOR is the registered owner of a parcel of land together with a one-storey concrete house built and including all improvements found thereon, situated in the _______________and covered by Transfer Certificate of Title No. ____________containing a total area of ____________________________________, more or less, and more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE NO. T-(FP-5971)-2174

“”

That the VENDOR, for and in consideration of the sum of _________________________________Philippine currency, to her in hand paid and receipt whereof is hereby acknowledged, does hereby SELL, TRANSFER and CONVEY, by PACTO DE RETRO unto the said VENDEE, his heirs, and assigns, the above described parcel of land together with the one-storey concrete house and all the improvements found thereon, free from all liens and encumbrances whatsoever:

That the VENDOR in executing this conveyance, hereby reserves the right to REPURCHASE, and the VENDEE is accepting same, hereby obligates himself to RESELL the above-described real property together with all the improvements found thereon, herein conveyed within a period of two (2) years from and after the date of this instrument particularly on the 14th of March 2011, provided, however that if the VENDOR shall fail to exercise his right to become absolute and irrevocable without the necessity of drawing up a new DEED OF ABSOLUTE SALE, subject to the requirements of the...
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