The Sale of Vehicle Form is a crucial legal document used in the Philippines for documenting and executing the transfer of vehicle ownership between parties. This document is essential for compliance with Philippine transportation laws and regulations, particularly those enforced by the Land Transportation Office (LTO) and the Land Transportation Franchising and Regulatory Board (LTFRB). The form captures all necessary details including vehicle specifications, seller and buyer information, purchase price, payment terms, and warranties. It serves as both a binding contract and an official record for registration purposes, incorporating requirements from the Civil Code of the Philippines and various transportation and tax regulations. The document is designed to protect both parties' interests while ensuring a smooth and legal transfer of vehicle ownership.
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1. Parties: Identification of the Seller and Buyer with complete names, addresses, and government-issued ID details
2. Background: Brief context of the transaction and confirmation of vehicle ownership
3. Definitions: Key terms used in the agreement including 'Vehicle', 'Purchase Price', 'Transfer Date', etc.
4. Vehicle Details: Complete specification of the vehicle including make, model, year, color, engine/chassis numbers, plate number, and current registration details
5. Purchase Price: Agreed purchase price, payment terms, and method of payment
6. Warranties and Representations: Seller's declarations regarding vehicle condition, ownership, and absence of liens or encumbrances
7. Transfer of Ownership: Process and timeline for transferring vehicle registration and other relevant documents
8. Responsibilities: Specific obligations of both parties regarding registration transfer, payments, and document processing
9. Governing Law: Specification that the agreement is governed by Philippine law
10. Execution: Signature blocks for both parties and witnesses
1. Financing Terms: Include when the purchase involves installment payments or third-party financing
2. Insurance: Include when transferring existing insurance or requiring new insurance arrangements
3. Special Conditions: Include when there are specific conditions like repairs needed or pending regulatory clearances
4. Dealer Warranty: Include when the seller is a dealer providing additional warranties
5. Return Policy: Include when there's an agreed testing period or conditional return arrangement
6. LTFRB Clearance: Include when the vehicle was previously used for public transportation
1. Vehicle Inspection Report: Detailed report of vehicle condition including photographs and noted defects
2. Payment Schedule: If installment payment is agreed, detailed breakdown of payment dates and amounts
3. Original Registration Documents: Copies of current registration papers, OR/CR, and insurance policies
4. Maintenance Records: History of vehicle maintenance and repairs
5. Tax Clearance Certificates: Proof that all relevant taxes have been paid
6. Deed of Absolute Sale: Standard LTO form for vehicle transfer
Relevant legal definitions
Clauses
Relevant Industries
Automotive
Transportation
Fleet Management
Car Dealership
Insurance
Banking and Finance
Legal Services
Private Transportation
Public Transportation
Vehicle Leasing
Relevant Teams
Legal
Administration
Fleet Management
Procurement
Sales
Compliance
Finance
Operations
Risk Management
Corporate Services
Relevant Roles
Fleet Manager
Legal Counsel
Administrative Officer
Compliance Officer
Sales Manager
Procurement Manager
Vehicle Registration Officer
Corporate Secretary
Finance Manager
Operations Manager
Transportation Manager
Business Owner
Car Dealer
Legal Administrator
Risk Manager
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