DEED OF SALE OF MOTOR VEHICLE

W/ ASSUMPTION OF MORTGAGE
KNOWN ALL MEN BY THESE PRESENTS:

This Deed of Sale of Motor Vehicle with Assumption of Mortgage is made and
executed this ___ day of February 2023, by and between:

__________________________, Filipino, of legal age, married, with residence

address at __________________________ hereinafter referred to as the “SELLER”;

-AND-

__________________________, Filipino, of legal age, single, with residence

address at __________________________, hereinafter referred to as the “BUYER”;

WITNESSETH:

WHEREAS, the SELLER is the registered owner of a motor vehicle which is

more particularly described as follows:

MAKE:
BODY TYPE:
ENGINE/MOTOR NO.:
SERIAL/CHASIS NO.:
YEAR MODEL:
PLATE NO.

WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell
the above-mentioned motor vehicle under the terms and conditions herein below set
forth;

WHEREAS, the SELLER hereby declare that said motor vehicle is still
mortgaged with PSBank, with remaining balance of ___________________ Pesos
(₱_______________.00) with monthly amortization amounting to
____________________ Pesos (₱_____________.00) payment due ___ of the month
starting 20__ up to 20__ and that will defend the title and rights of the BUYER from any
claims of whatever kind or nature from third persons.

NOW THEREFORE, for and in consideration of the sum of

__________________ Pesos (₱_________.00) Philippine Currency as Assumption Fee,
the SELLER hereby SELLS, TRANSFERS AND CONVEYS and by these presents have
SOLD, TRANSFERRED AND CONVEYED unto said BUYER all his rights and intents
in the said motor vehicle;

IN WITNESS WHEREOF, we have hereunder affixed our signatures this ___ day
of ___________, 20__ at ________________, Philippines.

_______________________ _______________________
Seller Buyer

SIGNED IN THE PRESENCE OF:

 _______________________ _______________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)

______________________________) Sc.

BEFORE ME, a Notary Public in and for Biñan City, Laguna on the ___ day of
___________, 20__, personally appeared _______________________ with ID No.
____________ issued by the ___________ and _______________________ with ID No.
____________ issued by the ___________ to me and to me known to be the same
persons who executed the foregoing Deed of Sale of Motor Vehicle with Assumption
of Mortgage and they acknowledged to me that the same are their free and voluntary act
and deed.

WITNESS MY HAND AND SEAL, ___ day of ___________, 20__ at

________________, Philippines.

NOTARY PUBLIC
.
Doc. No. ___;
Page No. ___;
Book No. ___;
Series of 20__.