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AND
WITNESSETH:
WHEREAS, the VENDEE is the registered owner of a parcel of land and covered by
Transfer Certificate of Title No. ____ more specially described as follows:
WHEREAS, the title on the above-property has been transferred and registered in the
VENDEE name by virtue of the fact that the VENDOR applied for a house and lot package
under the housing loan program whereby even if the vendor has not yet fully paid the total
contract price of the house and lot, the title of the lot was already transferred to the name of the
VENDOR for the purpose of the mortgaging the same as collateral to the originating bank
name:_______________________________ as obtaining under and as per requirement of the
housing loan program.
WHEREAS considering that the eventualities mentioned under the Deed of Undertaking
aforementioned and happened. The VENDOR is therefore under obligation to reconvey the
subject realty and the improvements thereon unto and in favor of _______________________,
hence, this Deed of Absolute Sale.
ACCORDINGLY, for and inconsideration of the foregoing premises and the covenants
hereinafter setforth the portion have agreed as follows:
IN WITNESS WHEREOF, the parties have signed this instrument, freely and
voluntarily this _____ day of ________________ at ___________________________.
_______________ ____________________
Vendor Vendee
__________________ _________________
SIGNED IN THE PRESENCE OF:
________________________ _____________________________
ACKNOWLEDGEMENT
Known to me and to me known to be the same person who executed the foregoing instrument
and they acknowledged to me that the same is their true voluntary act and deed.
This instrument refers to Deed of Recission is consist of three (3) pages including the
Acknowledgment page and has been signed by the parties and their instrumental witnesses.