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The Post Possession Agreement is a critical document in Philippine real estate transactions where circumstances necessitate a buyer taking possession of a property before the sale's completion. This arrangement might be needed when there are delays in financing, documentation, or other closing requirements, but the parties wish to proceed with the transfer of possession. The agreement must comply with the Civil Code of the Philippines and relevant property laws, providing comprehensive protection for both parties during this interim period. It typically includes detailed provisions for possession fees, maintenance responsibilities, insurance requirements, and risk allocation. The document is particularly relevant in both residential and commercial property transactions, especially in situations involving property development, long-term payment arrangements, or complex closing conditions. The Post Possession Agreement serves as a bridge between the initial sale agreement and final property transfer, ensuring all parties' interests are protected during this transitional phase.

1. Parties: Identification of the seller/owner and buyer/possessor with complete details as required under Philippine law

2. Background: Context of the agreement, including reference to the main purchase agreement and reason for early possession

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Possession Date', 'Completion Date', etc.

4. Grant of Possession: Terms and conditions under which possession is granted, including the specific date and time

5. Duration: Period of possession until final completion of sale

6. Possession Fee: Details of any fees payable for the possession period, payment terms and methods

7. Utilities and Outgoings: Responsibility for utility payments, maintenance costs, and other ongoing expenses

8. Obligations of the Possessor: Buyer's responsibilities during possession, including maintenance, insurance, and use restrictions

9. Seller's Rights and Obligations: Continuing obligations of the seller and rights retained during the possession period

10. Insurance Requirements: Mandatory insurance coverage to be maintained by the possessor

11. Risk and Liability: Allocation of risk and responsibility for damage during the possession period

12. Default and Termination: Consequences of breach and circumstances allowing termination of possession rights

13. Governing Law: Confirmation of Philippine law governance and jurisdiction

14. Execution: Formal signing requirements and witness provisions