Contract to Sell
Kasunduan sa Pagbebenta · Installment sale: title stays with the seller until the price is fully paid (Maceda Law applies).
This is a general template, NOT legal advice. Have a lawyer review it and notarize it before use.
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CONTRACT TO SELL
This Contract to Sell is made between ______________, of ______________ (the "SELLER"), and ______________, of ______________ (the "BUYER").
1. PROPERTY. ______________, covered by Title No. ______________, situated in ______________.
2. PRICE & TERMS. Total contract price: ₱__________. A down payment of ₱__________, with the balance payable in __ monthly installments of ₱__________ each.
3. RESERVATION OF TITLE. Title to the property shall remain with the SELLER and shall transfer to the BUYER, by a Deed of Absolute Sale, only upon FULL payment of the total contract price.
4. DEFAULT (MACEDA LAW). This installment sale is covered by Republic Act No. 6552 (the Maceda Law): the BUYER is entitled to grace periods and, after paying at least two years, to a refund of the cash surrender value before the contract may be cancelled by notarized notice.
5. POSSESSION & UPKEEP. The BUYER shall maintain the property in good condition and pay the taxes and dues during the period of possession.
IN WITNESS WHEREOF, the parties have signed this Contract at ______________, Philippines on ____________.
______________
SELLER
______________
BUYER
SIGNED IN THE PRESENCE OF:
ACKNOWLEDGMENT — Before me, a Notary Public, the parties acknowledged this instrument as their free and voluntary act.
Doc. No. ______;
Page No. ______;
Book No. ______;
Series of 20____.
Template by BalayHub — general guidance only, not legal advice. Have a lawyer review and a notary public notarize before use.
Other templates: all contracts