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PACTO de RETRO Deed of Sale With Right of Repurchase

PACTO de RETRO Deed of Sale With Right of Repurchase

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Published by: Ralph Gene Trabasas Flora on Oct 01, 2010
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08/12/2013

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(Deed of Sale with Right of Repurchase) DEED OF SALE WITH RIGHT OF REPURCHASE KNOW ALL MEN BY THESE PRESENTS

: This Deed of Sale with Right of Repurchase, made and executed by and between: _____________, Filipino, of legal age, (single / married / widow), with residence at _____________, Philippines, hereinafter referred to as the VENDOR; - and _____________, Filipino, of legal age, (single / married / widow), and with residence at _____________, Philippines, hereinafter referred to as the VENDEE; WITNESSETH; That: WHEREAS, the VENDOR is the true and absolute owner of a certain parcel of land covered by Transfer Certificate of Title No. _____________, situated in _____________, and more particularly described as follows:

(Technical Description of Property) NOW, THEREFORE, for and in consideration of the amount of __________________________ PESOS (P_____________), Philippine Currency, receipt of which is hereby acknowledged by the VENDOR to his full and complete satisfaction, the VENDOR does hereby SELL, TRANSFER, and CONVEY under PACTO DE RETRO unto the said VENDEE, his heirs, successors and assigns, the above-described parcel of land, free from any and all liens and encumbrances; That the VENDOR, in executing this assignment and conveyance, hereby reserves the right to REPURCHASE, and the VENDEE, in accepting the same, hereby obligates himself to RESELL, RETRANSFER, and RECONVEY, the above-described parcel of land herein conveyed within a period of _____________ (________) (years/months/days), from and after the date of this instrument, for the price of __________________________ Pesos (P_____________), Philippine Currency; Provided, however, that if the VENDOR shall fail to exercise his right to repurchase by fully and completely paying the said price within the period stipulated, then this conveyance shall become ABSOLUTE AND IRREVOCABLE, without necessity of drawing up a new deed of absolute sale.

IN WITNESS WHEREOF. the parties hereto have hereunto set their hands this _____________ at _____________. Philippines. VENDOR VENDEE SIGNED IN THE PRESENCE OF: __________________ __________________ (ACKNOWLEDGMENT) .

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