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Deed of Transfer of Rights
on Real Property
DEED OF TRANSFER OF
RIGHTS
KNOW ALL
MEN BY THESE PRESENTS:
WHEREAS, on________________ ,
19_____ , ______________ (name of transferor/original debtor)
Filipino single/married, of legal age, with residence at
_________________________, purchased on installment plan, a
certain real property from _______________ (name of creditor or
seller), more particularly described as follows, to wit:
(Description)
WHEREAS, the conditions of said purchase
are stated in a certain deed of sale, a true copy of which is hereto
attached and made an integral part hereof, as Annex "A";
WHEREAS, at the time of this transfer,
the total amount (including interests) already paid by
_________________ (original debtor) to __________________
(creditor/seller) is___________________ PESOS (P__________) leaving
an unpaid balance of
__________ PESOS (P__________ );
WHEREAS,__________________ (new debtor/transferee)
agrees to
substitute the person of _____________ (original debtor) in all of
the latter's rights and obligations in said Annex "A";
WHEREFORE, for and in consideration of
the sum of _______________ PESOS
(P___________ ), and with the consent of _______________________
_______________ (creditor/seller), the said
_________________ (new
debtor/transferee) hereby agrees to substitute the person
of __________________ (original debtor) in said
Annex "A" and hereby agrees to assume all the obligations, as well
as all of the latter's rights over the real property
above-described, thereby canceling, revoking, and rendering of no
effect the said deed of sale, Annex "A", in so far as the original
debtor/transferor_____________________ is
concerned.
IN WITNESS WHEREOF, the
parties hereto have signed this deed of transfer
this __________ day of ________________, 19_____, in the
city/municipality of __________________, province of
_______________, Philippines.
_______________________________________
_________________________________________
(Original
debtor/transferor)
(New
debtor/transferee)
With my/our consent:
_____________________________
(Creditor/seller)
Signed in the presence
of:
_____________________________
_____________________________
ACKNOWLEDGMENT |