You are on page 1of 6

Rodrigo Carpio, Filipino and married to Honeylet Carpio wants to sell a residential lot in Ayala

Alabang to Alan Pete Cayetano, Filipino, single and resident of Taguig City. The property is
covered by TCT No. 56789 and consists of 500 square meters, more or less. The agreed purchase
price is P 10, 000.00 per square meter. They have also agreed that the Capital Gains Tax and
Real Estate Tax shall be to the account of the seller while the Documentary Stamps Tax,
Registration Fee, registration expenses, and all other miscellaneous fees and expenses shall be to
the account of the buyer. An earnest money in the amount of P 1, 000, 000.00 shall be paid by
the buyer upon the execution of their contract to sell while the remaining balance shall be paid
within forty eight (48) months. Failure to pay by the buyer of the remaining balance shall
authorize the seller to forfeit the earnest money paid. Finally, they have agreed that upon
payment of the total contract price, the seller shall execute and sign a deed of absolute sale in
favor of the buyer and the seller shall surrender all the documents necessary for the transfer of
ownership of the property. Considering that Rodrigo Carpio is already 70 years old and has other
important matters to attend to, he authorized his “most trusted aide” Bong Co, single and resident
of Manila to represent him in the said transaction. In order to raise money, Alan Pete mortgaged
his BMW X5 (E70) with Plate No. ASS 690 to her sister Piyaya Cayetano for P 2, 000, 000.00.
He executed a promissory note payable on or a fixed determinable future time in favor of his
sister.

For question no. 5,


1. Prepare the contract to sell together with the notarial certificate. (20 points)
2. Prepare the Chattel Mortgage Contract with Affidavit of Good Faith (10 points)
3. Prepare the promissory note payable on or a fixed determinable future time. (10 points)

Instruction: Create a new Word document for your answers, you have until 8:10PM to submit
your file to bienvenido.almontejr@bulsu.edu.ph via email. Rename your file by following this
format "LegalFormsCompre_StudentNumber".

Note: You may save a screenshot of the question or copy-paste it to your word document before
clicking "SUBMIT". Upon submission of this google form, restart your OBS to secure the video
recording.
1. Prepare the contract to sell together with the notarial certificate. (20 points)

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENT:

This contract to sell is executed by and between:

Rodrigo Carpio, Filipino and married to Honeylet Carpio, and a resident of


_____________, duly represented by Bong Co, single and resident of Manila, as hereinafter refer
to as VENDOR;

-And-

Alan Pete Cayetano, of legal age, Filipino, single and residing at ________, Taguig City,
hereinafter reffered to as VENDEE.

Witnesseth that;

The VENDOR is the absolute owner of a residential lot in Ayala Alabang and consists of
more or less 500 square meters and is covered by Transfer Certificate of Title No. 56789, which
is described as follows:

(Description of the property)

That the Vendor and Vendee agreed to the following terms and conditions:

1. That they agreed to the purchase price of P10, 000.00 per square meter;
2. That they agreed that the Capital Gains Tax and Real Estate Tax shall be to the account
of the seller while the Documentary Stamps Tax, Registration Fee, registration expenses,
and all other miscellaneous fees and expenses shall be to the account of the VENDEE;
3. That an earnest money in the amount of P1, 000, 000.00 shall be paid by the VENDEE
upon the execution of this contract to sell while the remaining balance shall be paid
within forty eight (48) months;
4. That the failure to pay by the VENDEE of the remaining balance shall authorize the
VENDOR to forfeit the earnest money paid;
5. That they agreed that upon payment of the total contract price, the VENDOR shall
execute and sign a deed of absolute sale in favor of the VENDEE and the VENDOR shall
surrender all the documents necessary for the transfer of ownership of the property.

In witness whereof, we have set our hands this day of _________, _________ at
___________________.

___________________ _________________
VENDOR VENDEE
With Marital consent of:_____________________

WITNESSES:

1.___________________ 2._________________

Republic of the Philippines)

City of _______________) S.S.

ACKNOWLEDGMENT

Before me this day of____, _____________, in the City of _______________, personally


appeared before me: Rodrigo Carpio, with competent ID___________ issued at __________ and
Alan Pete Cayetano with competent ID___________ issued at __________, known to me is the
person who executed this contract to sell, and they acknowledge the same as their voluntary act
and free will.

This instrument consisting of __ pages including this acknowledgment, were signed by


the parties and witness thereon in the presence of the notary public.

In witness thereof, I have hereunto set my hands and affix my seal on the place and date
above-mentioned.

Doc. No.______; ATTY._________


Page No. _____; Notary Public
Book No. _____; Until Dec.31,______;
Series of _____. Commission Serial No.____;
Office Address at___________;
Roll of Atty No. ____________;
IBP No.___________________;
PTR No.__________________;
MCLE No._________________.
2. Prepare the Chattel Mortgage Contract with Affidavit of Good Faith (10 points)

CHATTEL MORTGAGE CONTRACT.

KNOW ALL MEN BY THESE PRESENTS:

This Chattel Mortgage is executed by Alan Pete Cayetano, of legal age, Filipino, single
and residing at ________, Taguig City, hereinafter reffered to as MORTGAGOR, in favor
Piyaya Cayetano of legal age, Filipino, and a resident of _____________, as hereinafter refer to
as MORTGAGEE.

Witnesseth that:

That the MORTGAGOR convey his BMW X5 (E70) with Plate No. ASS 690 to the
MORTGAGEE for P2, 000, 000.00 as a security for an obligation to pay a sum of money
evidenced by a promissory note payable on or a fixed determinable future time.

That as the condition of this Chattel Mortgage, when the Mortgagor performs his
obligation to pay the above sited amount and respected interest, this contract shall become void,
or otherwise it shall remain in force in accordance with law.

In witness whereof, we have set our hands this day of _____, ________ at
________________.

____________________ ______________________
MORTGAGOR MORTGAGEE

WITNESSES:

1.___________________ 2.____________________

Republic of the Philippines)

City of _______________) S.S.

ACKNOWLEDGMENT

Before me this day of____, _____________, in the City of _______________, personally


appeared before me: Piyaya Cayetano, with competent ID___________ issued at __________
and Alan Pete Cayetano with competent ID___________ issued at __________, known to me is
the person who executed this contract to sell, and they acknowledge the same as their voluntary
act and free will.
This instrument consisting of ___ pages including this acknowledgment, were signed by
the parties and witness thereon in the presence of the notary public.

In witness thereof, I have hereunto set my hands and affix my seal on the place and date
above-mentioned.

Doc. No.______; ATTY._________


Page No. _____; Notary Public
Book No. _____; Until Dec.31,______;
Series of _____. Commission Serial No:____;
Office Address at___________;
Roll of Atty No. ____________;
IBP No.___________________;
PTR No.__________________;
MCLE No._________________.

AFFIDAVIT OF GOOD FAITH

We, the Mortgagor and Mortgagee swear that we have executed this chattel mortgage
contract in good faith, as a security of an obligation stated therein, and for other purposes it may
serve.

In witness whereof, we have set our hands this day___ of ________ at ___________.

____________________ ______________________
MORTGAGOR MORTGAGEE

Subscribed and sworn to before me this day of____, _____________, in the City of
_______________, personally appeared before me: Piyaya Cayetano, with competent
ID___________ issued at __________ and Alan Pete Cayetano with competent ID___________
issued at __________. I shall set my hands and place my seal in the place and date stated above.

Doc. No.______; ATTY._________


Page No. _____; Notary Public
Book No. _____; Until Dec.31,______;
Series of _____. Commission Serial No.____;
Office Address at___________;
Roll of Atty No. ____________;
IBP No.___________________;
PTR No.__________________;
MCLE No._________________.

3. Prepare the promissory note payable on or a fixed determinable future time. (10 points)

DATE:________________

PROMISSORY NOTE

This is executed pursuant to the Chattel Mortgage Contract between Piyaya Cayetano and
the undersigned, in which the undersigned promises to pay to the order of Piyaya Cayetano on
January 12,2020 the sum of P2, 000, 000.00.

______________________
ALAN PETE CAYETANO
MAKER

You might also like