This document is a contract of lease with an option to purchase a 400 square meter parcel of land in Puerto Princesa City. The contract establishes XXX as the owner renting the property to XXX. XXX will pay monthly rent of PhP xxx starting on DD/MM/YYYY, with XX% of each payment going towards the PhP xxx purchase price. Upon completing purchase price payments, ownership will transfer to XXX. If XXX fails to make two consecutive monthly payments, she must surrender the property back to XXX.
This document is a contract of lease with an option to purchase a 400 square meter parcel of land in Puerto Princesa City. The contract establishes XXX as the owner renting the property to XXX. XXX will pay monthly rent of PhP xxx starting on DD/MM/YYYY, with XX% of each payment going towards the PhP xxx purchase price. Upon completing purchase price payments, ownership will transfer to XXX. If XXX fails to make two consecutive monthly payments, she must surrender the property back to XXX.
This document is a contract of lease with an option to purchase a 400 square meter parcel of land in Puerto Princesa City. The contract establishes XXX as the owner renting the property to XXX. XXX will pay monthly rent of PhP xxx starting on DD/MM/YYYY, with XX% of each payment going towards the PhP xxx purchase price. Upon completing purchase price payments, ownership will transfer to XXX. If XXX fails to make two consecutive monthly payments, she must surrender the property back to XXX.
The Parties of the agreement are, XXX, resident of the Republic of the Philippines and of legal age, and XXX, a corporation duly organized and existing under Philippine law, represented by its President Pedro C. Tabaquin. XXX is the owner of a 400sq. meter parcel of land in Puerto Princesa City. XXX approached XXX with a desire to rent and purchase the said premises along with its improvements. Terms and conditions: This XXX shall commence on DD/MM/YYYY. XXX agrees to lease and sold the above-mentioned premises to XXX. XXX shall pay XXX the sum of PhP xxx on commencement of this rent to own agreement and the same sum on every 3 rd day of each succeeding months for rental of the property. The parties agree that the purchase price of the property is PhP xxx The parties agree that XX% of each month's rent payment shall be applied towards purchase of the property. The parties agree that ownership of the property shall transfer to XXX upon completion of purchase price as described above. The parties agree that if XXX fails to complete the contemplated purchase of the property for any reason, no refunds or credits shall be due to her.
If XXX fails to make a payment within 2 months of its due date,
she agrees to surrender the property to XXX upon demand.
Paz Y. Ocampo, Josefa Y. Ocampo, Isidro Y. Ocampo, Gil Y. Ocampo, Mauro Y. Ocampo, and Vicente Y. Ocampo vs. Conrado Potenciano, Victor Potenciano and Lourdes Potenciano