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Agreement Of Sale And General Power Of Attorney for Philippines

Agreement Of Sale And General Power Of Attorney Template for Philippines

This document is a comprehensive legal instrument that combines an Agreement of Sale with a General Power of Attorney, structured under Philippine law. It facilitates the transfer of property or assets while simultaneously granting specific powers to an appointed representative to act on behalf of one of the parties. The document complies with the requirements of the Philippine Civil Code, particularly Articles 1305-1422 for contracts of sale and Articles 1868-1932 for agency relationships. It includes detailed provisions for the sale transaction, payment terms, warranties, and an extensive enumeration of powers granted to the attorney-in-fact, all formatted to meet Philippine notarial requirements.

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What is a Agreement Of Sale And General Power Of Attorney?

The Agreement Of Sale And General Power Of Attorney is a specialized legal document used in the Philippines when a party needs to both execute a sale and delegate authority to complete related transactions. This document is particularly useful in situations where parties cannot be physically present for all aspects of the sale process, or when complex, multi-step transactions require ongoing representation. It combines the essential elements of a sale contract (including price, payment terms, and transfer conditions) with comprehensive powers of attorney allowing the appointed representative to handle various aspects of the transaction. Common applications include real estate sales, business asset transfers, and situations where overseas parties are involved. The document must comply with Philippine Civil Code requirements, including proper notarization and witnessing, and typically includes specific provisions about the scope of delegated authority, warranties, and representations.

What sections should be included in a Agreement Of Sale And General Power Of Attorney?

1. Parties: Identification of the Seller and Buyer, including complete names, addresses, and civil status as required by Philippine law

2. Background: Context of the sale and reasons for granting power of attorney

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter of Sale: Detailed description of the property or goods being sold

5. Purchase Price and Payment Terms: Agreed price and payment schedule, including method of payment

6. Grant of Power of Attorney: Explicit grant of authority from principal to attorney-in-fact, specifying powers being conveyed

7. Scope of Authority: Detailed enumeration of specific powers granted to the attorney-in-fact

8. Warranties and Representations: Seller's warranties regarding ownership and condition of the subject matter

9. Delivery and Transfer of Ownership: Terms and conditions for physical and legal transfer of the subject matter

10. Obligations of the Parties: Specific duties and responsibilities of both seller and buyer

11. Term and Termination: Duration of the power of attorney and conditions for termination

12. Governing Law: Specification of Philippine law as governing law

13. Execution: Formal execution requirements including notarization provisions

What sections are optional to include in a Agreement Of Sale And General Power Of Attorney?

1. Conditions Precedent: Used when there are specific conditions that must be met before the sale becomes effective

2. Tax Provisions: Include when specific tax arrangements or responsibilities need to be clearly defined

3. Insurance: Required when insurance arrangements need to be specified during transition of ownership

4. Dispute Resolution: Optional detailed dispute resolution procedures beyond standard court jurisdiction

5. Substitution Clause: Include when the attorney-in-fact needs power to appoint substitutes

6. Special Powers: Include when specific additional powers beyond standard sale transaction are needed

7. Survival Clause: Used when certain provisions need to survive termination of the agreement

What schedules should be included in a Agreement Of Sale And General Power Of Attorney?

1. Property Description Schedule: Detailed technical description of the property or goods being sold

2. Payment Schedule: Detailed breakdown of payment terms and installments if applicable

3. Required Documents: List of documents required for transfer of ownership

4. Specific Powers Appendix: Detailed enumeration of specific powers granted under the power of attorney

5. Due Diligence Checklist: List of documents and verifications completed or required

6. Property Title Documents: Copies of relevant title documents and certificates

7. Tax Certificates: Relevant tax clearances and certificates

Authors

Alex Denne

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

Jurisdiction

Philippines

Publisher

Ƶ

Document Type

Sale Agreement

Cost

Free to use
Relevant legal definitions



































Clauses

































Relevant Industries

Real Estate

Banking and Finance

Property Development

Asset Management

Construction

Manufacturing

Retail

Agriculture

Commercial Trading

Investment

Relevant Teams

Legal

Compliance

Real Estate

Property Management

Business Development

Operations

Finance

Risk Management

Corporate Secretariat

Investment

Relevant Roles

Legal Counsel

Corporate Secretary

Real Estate Manager

Property Manager

Business Development Manager

Contract Administrator

Compliance Officer

Transaction Manager

Asset Manager

Investment Manager

Operations Director

Chief Legal Officer

Chief Financial Officer

Real Estate Broker

Property Developer

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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