DEED OF SALE WITH PACTO DE RETRO
KNOW ALL MEN BY THESE PRESENTS:
This Deed of Absolute Sale with Pacto de Retro is made and executed by:
(NAME OF SELLER), of legal age, single/married to (Name of spouse if any), Filipino, and with residence at (Address of Seller) hereinafter referred to as the SELLER;
(NAME OF BUYER), Filipino and with residence and postal address at (Address of Buyer), hereinafter referred to as the BUYER.
WHEREAS, the SELLER is the registered owner of a parcel of land with improvements located at (Address of property to be sold) and covered by Transfer Certificate of Title No. (TCT Number) containing a total area of (Land Area of Property in Words) (000) SQUARE METERS, more or less, and more particularly described as follows:
TRANSFER CERTIFICATE OF TITLE NO. 0000
"(Insert the technical description of the property on the title) Example: A PARCEL OF LAND (Lot 2 Blk 15 of consolidation subdivision plan (LRC) Pcs-0000, being a portion of the consolidation of Lots 0000-A and 0000-B (LRC) Psd-0000, Lot 3, Psd-0000, Lot 1, Psd-0000, LRC Rec. Nos. Nos. N-27024, 0000, 0000, N-0000, N-0000, and 0000 situated in the Bo. of San Andres, City of Kabankalan, Prov of Negros, Is. of Visayas. Bounded on NE., point 3 to 1 by Road Lot 2, on...to the point of beginning; containing an area of (300) square meters more or less..."
THAT the SELLER, for and in consideration of the amount of TWO MILLION PESOS (P2,00,000.00), Philippine Currency, receipt in full is hereby acknowledged by her to her satisfaction, hereby SELL, TRANSFER and CONVEY under PACTO DE RETRO unto said BUYER, his heirs and assigns, the above described property with all the buildings and improvement thereon, free from liens and encumbrances whatsoever;
THAT the SELLER, in executing this conveyance, hereby reserves the right to REPURCHASE, and the BUYER, in accepting the same, hereby obligates himself to RESELL the property herein conveyed within a period of five (5) years from and after the date of this instrument for the same price of TWO MILLION PESOS (P2,00,000.00), Philippine Currency: Provided however, that if the SELLER fails to exercise her right to repurchase as herein granted within the period stipulated, then this conveyance shall become absolute and irrevocable, without the necessity of drawing up a new deed of absolute sale, subject to the requirements of the law regarding consolidation of ownership of real property.
(NAME OF SELLER) (NAME OF BUYER)
WITH MARITAL CONSENT:
Name of Seller's Spouse Name of Buyer's Spouse
SIGNED IN THE PRESENCE OF:
REPUBLIC OF THE PHILIPPINES)
_____________________________ ) SS.
BEFORE ME, a Notary Public for and in the City of ___________________, personally appeared:
Name CTC Number Date/Place Issued
(Name of Seller) 00000000 June 18, 20__ / Kabankalan City
(Name of Buyer) 00000000 June 3, 20__ / Bacolod City
Known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same are their free act and voluntary deed.
This instrument, consisting of (__) pages, including the page on which this acknowledgment is written, has been signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND SEAL on this ___day of __________________20__ at_______________.
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.