DEED OF SALE and Assumption Mortasge

DEED OF SALE WITH ASSUMPTION OF MORTGAGE
KNOW ALL MEN BY THESE PRESENTS:
This DEED OF SALE WITH ASSUMPTION OF MORTGAGE is made and entered into by and
between:
________________________________ , Filipino, of legal age, single, with residence and postal address
at ______________________________________________________________ and hereinafter called
the “VENDOR”
- and -
_______________________________ , Filipino, of legal age, single, with residence and postal address
at ___________________________________________________ and hereinafter called the “VENDEE”
WITNESSETH:
WHEREAS, the VENDOR is the lawful owner of a parcel of land, including all the improvements
existing thereon, situated at
_____________________________________________________________________________ with an
area of ____ Square meters, more or less.
WHEREAS, the above described property is presently mortgaged in favor of IN-HOUSE

FINANCING.
WHEREAS, the VENDOR has offered to sell and the VENDEE has agreed to buy the
above-described land, with all the improvements thereon, and assign all his/her/their rights, title and
interest over the property and the VENDEE accepts the transfer and assignment in accordance with the
terms herein set forth;
NOW THEREFORE, the parties hereby agree as follows:
That for and in consideration of the sum of PESOS: _____________________________

_____________________________ (Php_____________) Philippine currency, receipt whereof is hereby
acknowledged by the VENDOR, the said VENDOR does hereby SELL, TRANSFER and CONVEY, in a
manner absolute and irrevocable, unto the VENDEE, his/her/their heirs and assigns the real property
above-described together with all the improvements existing thereon, free and clear of all liens and
encumbrances except the mortgage as may be subsisting in favor of _________________________ and
the VENDEE does hereby accept this sale and binds himself/herself/ themselves to assume as
he/she/they hereby assumes the payment of the unpaid balance of the mortgage indebtedness of the
VENDOR in favor of __________________, and does hereby further agree to be bound by the precise
terms and conditions therein contained.
It is likewise agreed that the capital gains tax, documentary stamp tax, transfer taxes and other
fees/expenses incident to the registration and transfer of the title to the VENDEE shall be borne by the
VENDOR.
The VENDOR hereby authorizes the VENDEE to transact with _____________________ and/or
its assigns with respect to the property as new owners thereof and the VENDOR hereby confirms that
may transact with the VENDEE, including the delivery of the original Transfer Certificate issued by the
Registry of Deeds of PROVINCE OF ________________ . The VENDOR hereby provides notice to
_________________________________________ that they may deal with the VENDEE as the new
owner of the above-mentioned property.
Likewise, this deed serves to release Pag-IBIG fund and/or their shareholders, directors, officers,
agents, employees, representatives, or successors-in-interest from any claim or cause of action
whatsoever against them with respect to any matter incident to or arising out of the property or the Loan
and Mortgage Agreement and the VENDOR agrees to hold them harmless from any and all suits or
claims in relation to or arising out of the property, including the delivery of the title to the buyer.
IN WITNESS WHEREOF, the parties have hereunto set their hands and signed this ___
day of ___________________ at the City of _________________________.
__________________________ _____________________________
Vendor Vendee
With marital consent: With marital consent:
__________________________ _____________________________
Signed in the presence of:
______________________________ ______________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
CITY OF _____________________ ) S.S.
BEFORE ME, a Notary Public for and in the City of ________________, this _____ day of
__________________, personally appeared the following persons:
Name Competent Evidence of Identity with no.

______________________________ ______________________________
______________________________ ______________________________
______________________________ ______________________________
______________________________ ______________________________
known to me to be the same persons who executed the foregoing Deed of Sale with
Assumption of Mortgage, which instrument consists of three (3) pages, including this page on
which this acknowledgement is written and signed at the left margin of each and every page by
the parties executing this instrument and their witnesses and sealed with my notarial seal and
said parties acknowledge to me that the same is their free and voluntary act and deed.
WITNESS MY HAND AND SEAL on the date and in the place first above written.
NOTARY PUBLIC
Doc. No. ______;
Page No. ______;
Book No. ______;
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DEED OF SALE WITH ASSUMPTION OF MORTGAGE

KNOW ALL MEN BY THESE PRESENTS:

WHEREAS, the above described property is presently mortgaged in favor of IN-HOUSE

NOW THEREFORE, the parties hereby agree as follows:

That for and in consideration of the sum of PESOS: _____________________________

With marital consent: With marital consent:

Signed in the presence of:

Name Competent Evidence of Identity with no.

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