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Letter of Commitment with Usufruct
SHFC letter for commitment with usufruct
Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: LETTER OF COMMITMENT
(Usufruct)
LOC No. CMP-________
For and in consideration of the willingness of
________________________________________________________
(Landowner/s)
to sell in favor of
SOCIAL HOUSING FINANCE CORPORATION (SHFC)
a parcel of land, Lot ______, __________________, situated in __________________________,
particularly described in Transfer Certificate of Title (TCT) No. ________________________
of the Registry of Deeds for ________containing a total area of __________square meters per
TCT (Area for CMP = ___________ square meters) more or less, Social Housing Finance
Corporation hereby executes this guaranty in favor of the Landowner/s, undertaking to pay the
amount
_______________________________________________________________________PESOS
AND ______/100”
(______________________________)
from the date the documents described in “Annex A” are submitted to SHFC.
Done this ______ day of _______________ at Makati City, Metro Manila.
SOCIAL HOUSING
FINANCE CORPORATION
By:
__________________________
President
Received by:
________________________________
(Landowner/s)
Date and time: ____________________
Annex A
I. FIRST TRANCHE OF EIGHTY PERCENT (80%) upon submission of the following
documents to SHFC:
1. Owners Duplicate and Registry of Deeds certified copy of TCT No. ________________;
2. Notarized Deed of Absolute Sale;
3. Original/certified copy of proof of payment of capital gains tax, DST on sale, and transfer
tax;
4. Proof of payment of updated real property tax;
5. Compliance with additional requirements, if any;
Please submit the above documents within ninety (90) days from receipt.
II. BALANCE OF TWENTY PERCENT (20%) upon submission of the following
documents to SHFC:
1. Original Owner’s Duplicate Copy of title in the name of SHFC;
2. Registry of Deeds Certified copy of title.
Received by:
________________________
(Landowner/s)
Date and time: ___________
