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1. Parties: Identification of all parties involved: current mortgagor, mortgagee, and the party executing the buyout
2. Background: Context of the existing mortgage, property details, and reason for the buyout
3. Definitions: Key terms used throughout the agreement
4. Subject Matter: Details of the mortgaged property and existing mortgage arrangement
5. Buyout Terms: Specific terms of the buyout including purchase price, payment method, and timeline
6. Payment Terms: Detailed payment schedule, mechanisms, and conditions
7. Closing Conditions: Prerequisites and conditions that must be met before the buyout can be completed
8. Representations and Warranties: Statements of fact and guarantees from all parties regarding their capacity and the property status
9. Transfer of Rights: Process and terms for transferring mortgage rights and obligations
10. Tax Provisions: Allocation of tax responsibilities and requirements
11. Default and Remedies: Consequences and available remedies in case of default by any party
12. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction details
13. Execution: Signature blocks and execution requirements
1. Multiple Properties: Additional section needed when the buyout involves multiple properties
2. Third-Party Consents: Required when the buyout needs approval from other parties such as banks or co-owners
3. Special Conditions: Used when there are unique circumstances or requirements specific to the transaction
4. Insurance: Included when specific insurance requirements need to be maintained or transferred
5. Environmental Provisions: Required for properties with potential environmental concerns or obligations
6. Broker Provisions: Included when real estate brokers are involved in the transaction
7. Property Management Transition: Needed when the property involves ongoing management responsibilities
1. Schedule A - Property Description: Detailed legal description of the mortgaged property
2. Schedule B - Existing Mortgage Details: Complete details of the current mortgage arrangement
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and schedule
4. Schedule D - Required Documents: List of documents required for closing
5. Schedule E - Tax Computations: Breakdown of applicable taxes and calculations
6. Appendix 1 - Property Documents: Copies of relevant property titles and certificates
7. Appendix 2 - Existing Mortgage Agreement: Copy of the original mortgage agreement
8. Appendix 3 - Consent Documents: Required third-party consents and approvals
Banking & Financial Services
Real Estate
Property Development
Mortgage Lending
Investment Management
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Financial Advisory Services
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Real Estate
Finance
Credit Risk
Compliance
Property Management
Investment
Mortgage Processing
Documentation
Risk Management
Mortgage Officer
Real Estate Attorney
Property Manager
Financial Advisor
Banking Officer
Credit Officer
Real Estate Broker
Investment Manager
Legal Counsel
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Compliance Officer
Property Developer
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Real Estate Investment Officer
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