Filipino

Only available on StudyMode
  • Download(s) : 256
  • Published : January 30, 2013
Open Document
Text Preview
DEED OF SALE UNDER PACTO DE RETRO
(Sample with Power of Attorney)

KNOW ALL MEN BY THESE PRESENTS:

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

(Full name of Vendor) , Filipino, of legal age, single (or married to ______________ ) with residence and post office address at ________ hereinafter called the VENDOR,

and

(Full name of vendee) , Filipino, of legal age, single (or married to ______________) with residence and post office address at ________ hereinafter called the VENDEE.

WITNESSETH:

That the VENDOR is the absolute owner of a certain parcel of land with all the buildings and improvements thereon, situated in _______________ and more particularly described as follows, to wit:

(Description of the property stated in the Certificate of Title)

his title thereto being evidenced by Transfer (or Original) Certificate of Title No. ______ issued by the Register of Deeds of _______________________.

That the VENDOR, for and in consideration of the sum of ___________ PESOS (Php ______) Philippine Currency, to him in hand paid and receipt whereof is hereby acknowledged, does hereby SELL, TRANSFER and CONVEY, under PACTO DE RETRO unto the said VENDEE, his heirs, and assigns, the above-described property with all the buildings and improvements 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 property herein conveyed within a period of ___ years from and after the date of this instrument, for the same price of _________ PESOS (Php ______) Philippine Currency, 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 law regarding consolidation of...
tracking img