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Deed of Absolute Sale of a Motor Vehicle Fill out the template

Deed of Absolute Sale of a Motor Vehicle

Last revision
Last revision 12/23/2019
Formats
Formats Word and PDF
Size
Size 2 to 3 pages
Rating 4.8 - 3 votes
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About the template

Last revision: 12/23/2019

Size: 2 to 3 pages

Available formats: Word and PDF

Rating: 4.8 - 3 votes

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Deed of Absolute Sale of a Motor Vehicle

A Deed of Absolute Sale of a Motor Vehicle is used to document the transfer of ownership of a motor vehicle through a sale from the Buyer to the Seller. With this document, the Buyer and Seller can outline the terms and conditions of the sale, including a description of the motor vehicle to be sold and the purchase price.

This document can be used to record the sale of all types of land vehicles that must be registered with the Land Transportation Office such as passenger cars, motorcycles, trucks, etc.


What deed of sale to choose?

This document can be used as one of the following:

  • Deed of Absolute Sale. A Deed of Absolute Sale is executed when the ownership is transferred to the Buyer upon the notarization of the Agreement or the actual delivery of the Motor Vehicle to the Buyer even if the purchase price is not fully paid.
  • Deed of Conditional Sale. A Deed of Conditional Sale is executed when the ownership is transferred to the Buyer once the full purchase price is paid. In a Deed of Conditional Sale, the Buyer can take possession or use the Motor Vehicle while the Seller retains the ownership of the Motor Vehicle. In this case, the Buyer cannot register the Motor Vehicle under his name until the full purchase price is paid.
  • Contract to Sell. A Contract to Sell is an agreement to sell the Motor Vehicle to the Buyer, usually after the payment of the full purchase price. In this case, the Buyer can also take possession or use the Motor Vehicle while the Seller retains the ownership. Once the purchase price is paid, the parties execute a Deed of Absolute Sale to transfer ownership of the Motor Vehicle to the Buyer.


How to use this document?

The user should enter all the information required to complete the document. Once the document is completed, the user should print at least four (4) copies of the document. If there are any attachments to the document, the attachments should be marked and attached to all the copies of the document. Marking the attachments means identifying the attachments by writing the words "Annex "A", Annex "B", and so on, on the attachments.

The user should use the document as a guide to properly mark the attachments. For convenience, the attachments have been emphasized in bold. Once the document has been printed and the attachments attached, if any, the parties should review and, if everything is found to be correct, sign all original copies of the document.


Notarizing the document

The parties should notarize the document by acknowledging the same before a notary public. Notarization of the document converts the document from a private document to a public document so that it becomes admissible in court without need of further proof of its authenticity. In a Deed of Absolute Sale, notarizing a document could be equivalent to constructive delivery so that ownership is transferred to the Buyer without the actual delivery of the Motor Vehicle. T

o notarize the document, the parties must personally appear before a notary public to acknowledge that they have signed the Deed of Absolute Sale freely and voluntarily. They should also present a valid I.D. issued by an official agency bearing their photograph and signature such as a driver's licence or a passport, among others. The notary public will usually require one original copy of the document to be left with the notary public.

Once notarized, the Seller and the Buyer should each keep at least one (1) copy of the notarized document.

The fourth copy can be used to register the transfer of ownership at the Land Transportation Office.

The user should note that the Land Transportation Office has other documentary requirements to register the transfer of ownership of a motor vehicle aside from the original Deed of Sale.


Applicable Law

The Civil Code of the Philippines governs sales in the Philippines.


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