Contract of Lease- A lease is a contract outlining the terms under which one party agrees to

rent an asset—in this case, property—owned by another party. It guarantees the lessee, also
known as the tenant, use of the property and guarantees the lessor (the property owner or
landlord) regular payments for a specified period in exchange.

Deed of Sale- a contract where the seller delivers property to the buyer and the buyer pays the
purchase price. The Deed of Sale results in ownership over the property being transferred to the
buyer upon its delivery.

Pacto de Retro- transfers the legal title to the vendee and this, in the absence of an agreement
to the contrary, carries with it the right of possession.

Deed of Donation- A Deed of Donation transfers property from the owner (the “donor”) to
another person (the “donee”) by way of donation. The Deed of Donation is usually executed for
the love, gratuity and affection the donor has for the donee (e.g. from a parent to a child).

Easement of Right or Way- a privilege that is granted for people or certain classes of people.
They can either pass over another land, the servient estate, through a certain path or road. A
right of way can only be acquired through a title according to Article 622 of the New Civil Code.

Art. 622. Continuous nonapparent easements, and discontinuous ones, whether apparent or
not, may be acquired only by virtue of a title. (539)

Quitclaims in Labor Cases

protects the employer from all of the employee's claims arising from the employment
relationship. Once the Quitclaim is executed the employee can no longer bring a claim against
the employer, even if they were not aware of such claim at the time the Quitclaim was executed.

Quitclaims, waivers, releases (collectively referred herein as “quitclaims”) are legal documents
signed by employees who absolve their employers from all liability including: 1) Monetary
claims; and/or…

What are the requisites of valid quitclaim?

To be valid, a deed of release, waiver or quitclaim must meet the following requirements: (1)
that there was no fraud or deceit on the part of any of the parties; (2) that the consideration for
the quitclaim is sufficient and reasonable; and (3) that the contract is not contrary to law, public
order, public policy, ...

Notice of Hearing
a prepared legal document that invokes all parties to hear a motion and may be emitted by any
party. Most notably the notice contains a time and date for the court clerk to amend schedule for
and what motion will be attempted.

The notice of hearing shall be addressed to all parties concerned, and shall specify the time and
date of the hearing which must not be later than ten (10) days after the filing of the motion." A
motion without notice of hearing is pro forma, a mere scrap of paper.

Extra-Judicial Partition of Real Estate- occurs when a deceased estate owner has not named
any heirs to the property or if they passed away without a valid will. This is a common procedure
in the Philippines and is usually settled outside the court. Since the heirs don't need to go to
trial, the estate can be divided among themselves.

Extra-Judicial Deed of Partition-

Extrajudicial Settlement of Estate- the legal process available for the heirs and beneficiaries
to manage and distribute the properties left behind by the deceased. This process does not
involve the court (extrajudicial means “out-of-court”)

procedure for dividing the Estate of the Decedent among his heirs, without having to go to court.
It may be done only if the following cirumstances are present: the decedent left no will.

Affidavit of Self-Adjudication- a written statement under oath by a sole heir (the “affiant”)
where he declares that he is the only heir of the deceased and is adjudicating the entire
inheritance to himself.

Mortgage- a legal agreement by which a bank or other creditor lends money at interest in
exchange for taking title of the debtor's property, with the condition that the conveyance of title
becomes void upon the payment of the debt.

Real Estate Mortgage- a contract where immovable property (i.e. a house) is put up as security
by the debtor (the “mortgagor”) in the creditor's (the “mortgagee”) favor for a loan or any other
principal obligation.

Chattel Mortgage- a conditional sale of personal property as security for the payment of a debt,
or the performance of some other obligation specified therein, the condition being that the sale
shall be void upon the seller paying to the purchaser a sum of money or doing some other act
named.

How is a Chattel Mortgage different from a Real Estate Mortgage?

Both documents place a mortgage on the property. However, a Chattel Mortgage is used for
movable property (e.g. car, jewelry) while a Real Estate Mortgage is used for immovable
property (e.g. land, building).

Deed of Release of Real Estate or Chattel Mortgage

A legal document that removes a previous claim or lien on an asset. A deed of release is usually
issued once a mortgage or other type of debt, previously secured against the asset, has been
paid in full. After the deed of release is written, the asset is owned free and clear by the owner,
and any previous claims against the asset that the lender may have had are dissolved.

For example, when most individuals purchase a home, they do so with the help of a mortgage
offered by a financial institution. When a home buyer obtains a mortgage to finance the
purchase of real estate, the bank providing the funds for the mortgage doesn’t just lend them
the money in good faith – the bank takes a legal claim against the house as collateral. Once the
home owner pays off all the money the bank lent them for the mortgage, the bank would write a
deed of release, ending their claim against the house.

Pre-Nuptial Agreements
Prenuptial agreements are Philippine contracts that are written and signed by the engaged
couple before the wedding, which detail all possible properties and assets that both individuals
may have. The prenuptial agreement will clearly state what will happen to these properties in
case the two separate or if one of them passes. A prenuptial agreement also protects both
parties from debts incurred during the marriage, preventing their better half from being
responsible to pay off the debts in the absence of his or her partner.

Deed of Assignment of Credit- An assignment of credit is the process of transferring the right
of the assignor to the assignee who would then have the right to proceed against the debtor. In
novation through subrogation, the third party pays the obligation of the debtor to the creditor
with the latter's consent.

What is the effect of assignment of credit?

An assignment of a credit, right or action shall produce no effect as against third persons,
unless it appears in a public instrument, or the instrument is recorded in the Registry of Property
in case the assignment involves real property.