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The Contract to Buy and Sell (Real Estate) is a fundamental legal document used in Philippine real estate transactions to formalize the agreement between a buyer and seller for the transfer of real property. This document is essential when conducting property transactions in the Philippines and must comply with various local laws including the Civil Code of the Philippines, Property Registration Decree, and relevant tax regulations. It serves as the primary agreement outlining the terms of sale, including property details, purchase price, payment terms, conditions precedent to closing, and obligations of both parties. The contract typically requires notarization and proper registration with relevant government authorities to be fully effective. It's particularly important as it forms the basis for the eventual transfer of title and serves as evidence of the parties' rights and obligations throughout the transaction process.

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal names, civil status, addresses, and tax identification numbers

2. Background: Establishes the context of the transaction, including a brief description of the property and the parties' intention to enter into a sale

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Property Description: Detailed description of the real property including lot number, location, boundaries, title details, and improvements

5. Purchase Price: States the total purchase price and currency

6. Payment Terms: Details the payment schedule, including earnest money, down payment, and balance payment arrangements

7. Conditions of Sale: Specifies the conditions that must be met before the sale can be completed

8. Representations and Warranties: Statements by both parties regarding their capacity to enter into the contract and the status of the property

9. Title and Transfer: Provisions regarding the transfer of title, including requirements for clear title and registration procedures

10. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs

11. Possession and Risk: Specifies when possession will be transferred and who bears risk before and after closing

12. Default and Remedies: Outlines what constitutes default and the remedies available to either party

13. Governing Law: Confirms Philippine law as governing law and specifies jurisdiction for disputes

14. Notices: Specifies how and where formal notices between parties should be delivered

15. Execution: Signature blocks and notarization requirements