The 3rd Owner Deed of Sale is a crucial legal instrument in Philippine property transactions where a property has changed hands multiple times. This document is specifically used when transferring property that has had two previous owners, requiring detailed documentation of the ownership chain. It must comply with Philippine property laws, including the Civil Code and Property Registration Decree, and requires proper notarization and registration with the Register of Deeds. The deed includes comprehensive information about the current sale, previous ownership transfers, property details, and all necessary declarations and warranties. It's particularly important for establishing clear title and preventing future ownership disputes, making it essential for property transactions in the Philippines where proper documentation of ownership history is required.
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1. Parties: Identification of all parties: current owner (seller), buyer, and details of the previous two owners of the property
2. Background: History of property ownership, including dates and details of previous transfers
3. Definitions: Key terms used in the deed, including property description terminology and legal terms
4. Property Description: Detailed description of the property including lot number, area, boundaries, and technical description as per tax declaration and title
5. Ownership History Declaration: Statement detailing the chain of ownership from the first to current owner
6. Consideration: Purchase price and payment terms, including method and timing of payment
7. Free and Clear Title Declaration: Seller's declaration that the property is free from liens and encumbrances
8. Warranties: Seller's warranties regarding ownership, right to sell, and property condition
9. Tax Declarations: Statements regarding payment of taxes and fees related to the property
10. Transfer of Rights: Terms of transfer of all rights, titles, and interests in the property
11. Execution Requirements: Requirements for notarization and registration of the deed
12. Governing Law: Statement that the deed is governed by Philippine law
1. Existing Tenancy: Required if the property is currently leased or occupied by tenants
2. Encumbrances: Detailed section needed if there are any existing liens or encumbrances on the property
3. Special Power of Attorney: Required if any party is represented by an attorney-in-fact
4. Spouse's Consent: Required if the seller is married, for conjugal property
5. Payment Terms: Detailed section needed if payment is not made in full at closing
6. Improvements: Description of improvements on the land, required for properties with structures
7. Conditions Precedent: Required if there are conditions that must be met before closing
1. Property Title: Copy of the current Transfer Certificate of Title (TCT) or Original Certificate of Title (OCT)
2. Tax Clearance Certificates: Current real property tax clearances and tax declarations
3. Previous Deeds: Copies of previous deeds of sale showing chain of ownership
4. Technical Description: Detailed technical description of the property with survey plans
5. Property Photos: Recent photographs of the property and its boundaries
6. Tax Receipts: Proof of payment of relevant taxes (capital gains, transfer tax, etc.)
7. Identity Documents: Copies of valid government IDs of all parties
Relevant legal definitions
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Real Estate
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Banking and Finance
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Property Investment
Real Estate Investment Trusts (REITs)
Property Management
Urban Development
Housing Development
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Real Estate
Compliance
Property Management
Asset Management
Documentation
Property Acquisition
Risk Management
Finance
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Real Estate Lawyer
Property Manager
Real Estate Broker
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Title Examiner
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Legal Documentation Specialist
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