LEGAL FORMS

2nd Semester, AY 2018-2019

Lyceum of the Philippines University-College of Law

HOMEWORK #2

Patricia Punzalan (“Punzalan”) is a Filipino, of legal age, single, and residing at 75

Lanzones St., Belladona Village, Brgy. Mambugan, Antipolo, Rizal. Punzalan is the absolute and
registered owner of a parcel of land situated at San Joaquin Norte, Agoo, Province of La Union
with an area of 1,382 square meters (the “Property”), more particularly described as follows:

Beginning at a point marked “1 of Lot No. 3807, Cad. 314-D, being S.26-55 W.,
861.44 m. from BLLM No. I, Cad. 314-D; thence N.74-78 E., 58.99 m. to point 2; S. 21-02 E.,
10.64 m. to point 3; S. 20-05 E., 12.41 m. to point 4; S. 69-40 W., 49.70 m. to point 5; N. 38-
12 W., 29-75 m. to point 1; point of beginning. Containing an area of ONE THOUSAND
THREE HUNDRED AND EIGHTY-TWO (1,382) SQUARE METERS. All points are
marked on the ground by P.S. Cyl. Conc. Mons. Bounded on the N., along line 1-2 by Lot
3804, Cad. 314-D; on the E., along line 2-3 by Lot 17558.

including the house and all improvements, properties, equipment, furniture, and
fixtures found therein.

Meanwhile, Eduardo Buenavista (“Buenavista”), is a Filipino, of legal age, married to

Amor Buenavista, and residing at Unit #642, Tower B, Greenfield Residences, Brgy. Mariana,
Quezon City.

The parties agreed that Punzalan shall sell the Property to Buenavista for the purchase
price of P16,796,000.00.

Thereafter, upon full payment of the purchase price, the parties entered into the
corresponding deed of absolute sale, subject to the following conditions:

1. Punzalan warrants: (a) her right to sell; (b) Buenavista’s right to enjoy the legal and
peaceful possession of the Property, upon the transfer of ownership thereof to him; and
(c) full payment of utility bills until the execution of the deed of absolute sale.

2. Punzalan shall pay the following: (a) capital gains or income taxes due on the sale of the
Property, whichever is applicable; and (b) real property tax up to the date of the
execution of the deed of absolute sale;

3. Buenavista shall pay for the Value-Added, documentary stamp, and transfer taxes,
registration fees, and other expenses of registration, including notarial fees; and
 4. Punzalan shall execute, deliver, and submit any additional documents and instruments
that may be required in order that the title over the Property shall be transferred under
Buenavista’s name.

Draft the deed of absolute sale for this transaction. •