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Legal Forms Assignment

A Deed of Sale transfers ownership of property from the seller to the buyer upon delivery of the property and payment of the purchase price. A Deed of Assignment transfers ownership of property from an assignor to an assignee, giving the assignee the rights and obligations of the assignor. A Deed of Donation transfers property from a donor to a donee, usually done from a parent to child out of affection. A Deed of Trust establishes an agreement where a borrower's property is held by a trustee until the debt is repaid, while a Trust Agreement formally creates a trust to hold assets for beneficiaries. A Contract of Lease grants the lessee possession of a property from the lessor for a period

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56 views2 pages

Legal Forms Assignment

A Deed of Sale transfers ownership of property from the seller to the buyer upon delivery of the property and payment of the purchase price. A Deed of Assignment transfers ownership of property from an assignor to an assignee, giving the assignee the rights and obligations of the assignor. A Deed of Donation transfers property from a donor to a donee, usually done from a parent to child out of affection. A Deed of Trust establishes an agreement where a borrower's property is held by a trustee until the debt is repaid, while a Trust Agreement formally creates a trust to hold assets for beneficiaries. A Contract of Lease grants the lessee possession of a property from the lessor for a period

Uploaded by

Paul Arman Murillo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Deeds and Contract

1. Deed of Sale vs. Contract to Sell vs Contract of Sale

A Deed of Sale is a contract where the seller delivers property to the buyer and
the buyer pays the purchase price. The deed results in ownership over the property
being transferred to the buyer upon its delivery. Contract to sell is similar to sale on
installments except that the period allowed for the final payment of the purchase price is
much shorter in duration while in Contract of Sale, it is an agreement between two
parties whereby one, who is the seller or vendor, obligates himself to deliver something
to the other party who is the buyer or vendee who is bound to pay a sum of money or its
equivalent.

2. Deed of Assignment

It is a contract where the owner (the assignor) transfers ownership over certain
property to another person (the assignee) by way of assignment. As a result of
the assignment, the assignee steps into the shoes of the assignor and assumes all the
rights and obligations pertaining to the property.

3. Deed of Donation 

It 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 (ex. from a parent to a child).

4. Deed of Trust vs. Trust Agreement

A Deed of Trust is essentially an agreement between a lender and a borrower


to give the property to a neutral third party who will serve as a trustee. The trustee
holds the property until the borrower pays off the debt while a trust agreement is a
formal agreement through which a legal entity, called a 'trust', is created to hold
property or assets for the benefit of certain persons or entities. The people entitled to
benefit from the trust are called 'beneficiaries'. The creator of the trust is called the
settlor.

6. Contract of Lease

A contract of lease is a reciprocal contract. By signing the lease agreement, the


lessor grants possession over his/her property to the lessee for a period of time in
exchange for rental payment.
7. Mortgage Contract
A Contract whereby the debtor secures to the creditor the fulfillment of a principal
obligation, specially substituting to such security immovable property or real rights over
immovable property which obligation shall be satisfied with the proceeds of sale of said
property or rights in case the said obligation is not complied with at the time stipulated.

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