DEED OF SALE WITH RIGHT TO REPURCHASE
KNOW ALL
MEN BY THESE PRESENTS:
This Deed
of Sale with Right of Repurchase, made and executed by and between:
(NAME OF SELLER), Filipino, of legal age, single/married
to (Name of Spouse), with residence at (Place of Residence),
Philippines, hereinafter referred to as the SELLER;
– and –
(NAME OF BUYER), Filipino, of legal age, single/married
to (Name of Spouse), with residence at (Place of Residence),
Philippines, hereinafter referred to as the BUYER;
WITNESSETH, That:
WHEREAS, the VENDOR is the true
and absolute owner of a certain parcel of land covered by Transfer Certificate
of Title No. ___________ , situated in ___________ , and more
particularly described as follows:
A parcel of
land (Lot ___, Block ___, of the consolidation-subdivision plan, Pcs-_________,
being a portion of _______, and _______, Psd-_______), situated in the Barrio
of _______, City of _______, Island of _______. Bounded on the NW. and NE.
along lines 1-2-3-4-5 by Road Lot 6, on the SE. along line 5-6 by Lot 35, Block
13, along line 6-7 by Lot 34, Block 13, on the SW. along line 7-1 by Lot 37,
Block 13, all of the consolidation-subdivision plan; containing an area of TWO
HUNDRED (200) SQUARE METERS, more or less. (A copy of TCT _______ is herein
attached as Annex “A”)
NOW, THEREFORE, for and in
consideration of the amount of (AMOUNT IN WORDS) PESOS (Amount in
Figures), Philippine Currency, receipt of which is hereby acknowledged by
the SELLER to his full and complete satisfaction, the SELLER does hereby SELL,
TRANSFER, and CONVEY under PACTO DE RETRO unto the said BUYER, his heirs,
successors and assigns, the above-described parcel of land, free from any and
all liens and encumbrances;
That the SELLER, in executing
this assignment and conveyance, hereby reserves the right to REPURCHASE, and
the BUYER, in accepting the same, hereby obligates himself to RESELL,
RETRANSFER, and RECONVEY, the above-described parcel of land herein conveyed
within a period of TWO (2) YEARS , from and after the date of this
instrument, for the price of (AMOUNT IN WORDS) PESOS (Amount in
Figures), Philippine Currency;
Provided, however, that if the SELLER
shall fail to exercise his right to repurchase by fully and completely paying
the said price within the period stipulated, then this conveyance shall become
ABSOLUTE AND IRREVOCABLE, without necessity of drawing up a new Deed of Absolute
Sale.
IN WITNESS WHEREOF, we have hereunto set our hands this (Date) at
(Place), Philippines.
(NAME
OF SELLER)
Seller
With my
marital consent: (NAME OF SELLER’S SPOUSE)
(NAME
OF BUYER)
Buyer
Signe in the presence of:
___________________ ___________________
ACKNOWLEDGMENT
Republic
of the Philippines )
City of
_______________ ) S.S.
BEFORE ME, a Notary
Public for and in the city named above, this ____ day of _________________,
personally appeared the following
NAME
|
I.D. NO.
|
DATE & PLACE
ISSUED
|
SELLER
|
||
SPOUSE OF SELLER
|
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BUYER
|
known to me and to me known to be
the same persons who executed this Deed of Sale with Right to Repurchase and
acknowledged to me that the same is their free and voluntary act and deed.
The foregoing document
relates to a Deed of Sale with Right to Repurchase of a parcel of land,
consisting of ________ (___) pages including the page on which this
acknowledgment is written and has been signed on each page by the parties and
their instrumental witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND
NOTARIAL SEAL on the date and place first above written.
Doc. No. _____;
Page No. _____;
Book No._____;
