MIDTERM EXAM: Reporting

Problem: Decide what documents to prepare and documents needed, taking

into consideration all the conditions and situations of both parties: (approach
from steps in the purchase of agricultural land, to conclusion, documents to
prepare)

Subject Property: TCT No. T-146-2017012345

50,000 square meters
Barrio of Catalunan Grande, City Of Davao
Only 36,442 square meters was sold (3,6442 hectares)-Is it not that
the maximum landholding is not more than 3 heactares
@PhP2,000.00/sqmtr to herein buyer- reasonable amount?
Classified as agricultural

SELLER - Dying, confined in a hospital in Metro Manila, single and no

issue
- Has four siblings (one in Pangasinan, all the rest are in Davao City)
- Mother is still alive, lives in Davao City
- Has a trusted friend she wanted to represent her during the sale
- Doesn’t want to pay any taxes, price is tax exclusive (pay property tax only)
- In dire need of money

BUYER - a family corporation represented by the mother

- Willing to pay the 2,000 per sqmtr price
- Willing to give earnest money before the final approved survey plan is submitted
- Wanted to issue the full amount of the payment upon transfer only of the title
- Doesn’t want any complications with the other siblings and the mother after the sale
- Wanted to be assured that the property has no liens and encumbrances and no pending
litigation of any kind
- Wanted to be assured that the property is not subject to any claims by third parties
- Willing to pay the taxes except the RPT (for seller oonly)
- Wanted the property as potential investment knowing that part of the same property
was already bought by Camella

Solution: due diligence of documents

-earnest money to be given to conduct investigation in the property
-ask camella, deed of sale, proving that it has bought the 3.6 hectares.
-conduct survey

SPA
-need for capacity
-rights
-