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Deed of Absolute Sale - Usufruct

SHFC usufruct deed of absolute sale

Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: DEED OF ABSOLUTE SALE
(Usufruct)
This Deed of Absolute Sale is made and entered into by and between:
_______________________________________, duly registered with the
Securities and Exchange Commission (SEC) with office address at
__________________________________________________________________
represented by _______________________________________ (hereinafter
referred to as the “LANDOWNER”);
-andSOCIAL HOUSING FINANCE CORPORATION, a government owned and controlled corporation created under E.O. 272 s. of 2004, and
registered with the SEC, with principal office address at BDO Plaza Bldg., 8737
Paseo de Roxas, Makati City, represented herein by its President,
___________________________ (hereinafter referred to as the “SHFC”);
WITNESSETH:
WHEREAS, the LANDOWNER is the absolute owner of the parcel/s of land situated in
_____________________ covered by TCT No/s. ___________________ registered with the
Registry
of
Deeds
for
______________,
containing
a
total
area
of
______________________________SQUARE METERS (___________ sq.m.), more or less
and particularly described as follows:

(Technical Description)

WHEREAS, the LANDOWNER has agreed to sell to SHFC and the latter likewise agreed to
buy from the former the above described parcel/s of land at the agreed price of
________________________________________________________ (Php________________);
WHEREAS, SHFC is a lead government agency to undertake social housing programs that
will cater to the formal and informal sectors in the low income bracket and shall take charge of
the developing and administering social housing program schemes, particularly the Community
Mortgage Program (CMP) and the Abot-Kaya Pabahay Fund (AKPF) Program;
WHEREAS, under the CMP Corporate Circular No. 15-035, Series of 2016, and under its
Articles of Incorporation and By-Laws, SHFC is empowered to purchase properties for the
benefit of the informal settler families (ISFs);
NOW THEREFORE, for and in consideration of the foregoing premises, the LANDOWNER
hereby SELLS, CEDES, TRANSFERS AND CONVEYS, in a manner absolute and irrevocable,
the above described parcel/s of land unto SHFC and its assigns and successors under the
following terms:
1. For and in consideration of the sum of __________________________________
(PhP________________), eighty percent (80%) of which had already been paid
by SHFC and the remaining twenty percent (20%) shall be paid upon transfer of
title to SHFC’s name, the LANDOWNER hereby SELLS, CEDES, TRANSFERS
AND CONVEYS in a manner absolute and irrevocable, the absolute ownership of

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the above described parcel/s of land together with the improvements thereon unto
SHFC and its assigns and successors;
2. The LANDOWNER hereby warrants that the subject parcel/s of land is/are free of
any lien and encumbrance of whatever nature and that the same being executed in
favor of SHFC, its assignees and successors-in-interest with warrants of title and
against eviction;
3. It is agreed that the LANDOWNER will assume the payment of Documentary
Stamp Tax on sale, Notarization of the Deed of Absolute Sale, the Real Property
Tax due prior to the release of the price, Capital Gains Tax and applicable taxes
due from the land owner.
IN WITNESS WHEREOF, the parties hereunto
________________________ at ____________________________.

set

their

hands

this

SOCIAL HOUSING FINANCE
CORPORATION
Vendor

______________________________
Vendee

by:

by:

______________________________
Government ID No. ______________

______________________________
Government ID No. _____________

SIGNED IN THE PRESENCE OF:
__________________________

___________________________

ACKNOWLEDGMENT
Republic of the Philippines )
) S.S.
BEFORE ME, a Notary Public for and in the above jurisdiction this day of
________________ personally appeared:
Name

Government Valid
ID

Place and Date of
Issue

Expiration Date

Known to me to be the same persons who executed the foregoing instrument, consisting of two
(2) pages, including this page wherein this acknowledgement is written, signed by parties and
their instrumental witnesses and sealed with my notarial seal. This agreement refers to as Deed
of Absolute Sale and acknowledged to me that the same are their own free voluntary acts and
deeds as well as of the Corporation and the LANDOWNER.
WITNESS MY HAND AND SEAL on the date, year and place first above written.
Doc. No.: ____;
Page No.: ____;
Book No.: ____;
Series of 20___.
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