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Quitclaim Deed Mortgage for Philippines

Quitclaim Deed Mortgage Template for Philippines

A Quitclaim Deed Mortgage is a specialized legal document used in the Philippines that combines elements of both a quitclaim deed and a mortgage agreement. Operating under Philippine civil law and property law, this document facilitates the transfer of property rights from a grantor to a grantee while simultaneously creating a mortgage interest in favor of a mortgagee. The document must comply with the requirements of the Civil Code of the Philippines, the Property Registration Decree (PD 1529), and relevant regulations of the Land Registration Authority. It serves as both a conveyancing instrument and a security document, requiring proper execution, notarization, and registration with appropriate government authorities.

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What is a Quitclaim Deed Mortgage?

The Quitclaim Deed Mortgage is a crucial legal instrument in Philippine real estate transactions where property transfer and mortgage financing occur simultaneously. This document is typically used when a party wishes to release any claim to a property while the receiving party secures financing through a mortgage. The document must conform to Philippine legal requirements, including those set forth in the Civil Code of the Philippines and the Property Registration Decree. It contains detailed property descriptions, precise terms of both the quitclaim and mortgage arrangements, and requires proper notarization and registration with the Land Registration Authority. The document is particularly important in situations involving property settlements, family transfers, or corporate restructuring where clean title transfer and immediate financing are needed.

What sections should be included in a Quitclaim Deed Mortgage?

1. Title and Date: Formal title of the document identifying it as a Quitclaim Deed Mortgage and the date of execution

2. Parties: Identification of the Grantor (person releasing rights), Grantee (person receiving rights), and Mortgagee with complete legal names and addresses

3. Recitals: Background information establishing the Grantor's ownership and intent to transfer and mortgage the property

4. Property Description: Detailed legal description of the property including lot number, survey number, and boundaries as per technical description

5. Consideration: Statement of the consideration paid for the quitclaim and the mortgage amount

6. Granting Clause: Express language releasing and quitclaiming all rights, title, and interest to the property

7. Mortgage Terms: Details of the mortgage including principal amount, interest rate, payment terms, and duration

8. Warranties and Representations: Grantor's declarations regarding property ownership, absence of encumbrances, and authority to transfer

9. Default Provisions: Conditions constituting default and remedies available to the Mortgagee

10. Execution: Signature blocks for all parties with notarial acknowledgment

What sections are optional to include in a Quitclaim Deed Mortgage?

1. Spousal Consent: Required when the Grantor is married, containing spouse's consent to the transfer and mortgage

2. Corporate Authorization: Required when any party is a corporation, including board resolutions authorizing the transaction

3. Special Powers of Attorney: Required when any party is acting through an attorney-in-fact

4. Tax Declarations: Statements regarding payment of real property taxes and other applicable taxes

5. Environmental Warranties: Required for properties with potential environmental concerns or obligations

6. Tenant Rights: Required when the property is subject to existing lease agreements

7. Prior Encumbrances: Required when there are existing liens or encumbrances that need to be addressed

What schedules should be included in a Quitclaim Deed Mortgage?

1. Schedule A - Property Technical Description: Detailed technical description of the property including surveys, boundaries, and improvements

2. Schedule B - Transfer Certificates of Title: Copies of relevant land titles and registration documents

3. Schedule C - Tax Clearances: Property tax receipts and clearances from local government units

4. Schedule D - Payment Schedule: Detailed amortization schedule for the mortgage payments

5. Appendix 1 - Property Photos: Recent photographs of the property and improvements

6. Appendix 2 - Corporate Documents: If applicable, corporate authorization documents and SEC registrations

7. Appendix 3 - Special Powers of Attorney: If applicable, notarized special powers of attorney for representatives

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

抖阴视频

Document Type

Mortgage Document

Cost

Free to use
Relevant legal definitions



































Clauses





























Relevant Industries

Real Estate

Banking and Finance

Construction

Property Development

Agriculture (for agricultural lands)

Commercial Property

Residential Property

Industrial Property

Legal Services

Financial Services

Relevant Teams

Legal

Real Estate

Property Management

Finance

Compliance

Corporate Secretarial

Documentation

Risk Management

Business Development

Operations

Relevant Roles

Real Estate Lawyer

Property Manager

Bank Officer

Mortgage Specialist

Real Estate Broker

Title Officer

Legal Counsel

Corporate Secretary

Compliance Officer

Property Developer

Land Registration Officer

Real Estate Manager

Finance Manager

Document Controller

Legal Administrator

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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