ample Deed Of Absolute Sale With Pacto De

Retro

Philippine Legal Forms

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DEED OF ABSOLUTE SALE WITH PACTO DE

RETRO

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Absolute Sale with Pacto de Retro made and

executed by and between:

JAKEE CHAN, of legal age, Filipino, widow, and with postal address at
No. 333 Kamias Road, Quezon City, hereinafter referred to as the SELLER;

and

JET LEE, of legal age, Filipino, single with residence address at 555
Kamagong Street, Ayala Alabang Village, Muntinlupa City, Metro Manila
hereinafter referred to as the BUYER.

WITNESSETH:

That the SELLER is the absolute owner of a certain parcel of land

situated in San Pablo City, Province of Laguna, and more particularly
described and bounded as follows:

TCT No. T-123456

A PARCEL OF LAND (Lot 32 of the consolidation-subdivision plan (LRC) Pcs-
5141, being a portion of the consolidation of Lots 1 and 2, Psu-112287
Amd., LRC (GLRO) Rec. No. N-17511), situated in the Dist. Of Concepcion,
City of San Pablo, Laguna, Island of Luzon. Bounded on the NE., points 3 to
6, by Lot 85; on the S., points 6 to 1 by Lot 30; on the SW., points 1 to 2,
by Lot 31; and on the N., points 2 to 3 by Lot 35, all of the consolidation-
subdivision plan. Beginning at a point marked "1" on plan, being N. 51 deg.
36' E., 1321.76 m. from B.L.L.M. No.1, San Pablo, Laguna (a copy of which
title is hereto attached as Annex "A")

THAT the SELLER, for and in consideration of the amount of FIVE

HUNDRED THOUSAND PESOS (P500,000.00), Philippine Currency, receipt in
full is hereby acknowledged by her to her satisfaction, hereby SELL,
TRANSFER and CONVEY under PACTO DE RETRO unto said BUYER, his heirs
and assigns, the above described property with all the buildings and
improvement thereon, free from liens and encumbrances whatsoever;

THAT the SELLER, in executing this conveyance, hereby reserves the

right to REPURCHASE, and the BUYER, in accepting the same, hereby
obligates himself to RESELL the property herein conveyed within a period of
five (5) years from and after the date of this instrument for the same price
of FIVE HUNDRED THOUSAND PESOS (P500,000.00), Philippine Currency:
Provided however, that if the SELLER fails to exercise her right to repurchase
as herein granted within the period stipulated, then this conveyance shall
become absolute and irrevocable, without the necessity of drawing up a new
deed of absolute sale, subject to the requirements of the law regarding
consolidation of ownership of real property.

IN WITNESS WHEREOF, the parties have hereunto set their hands

this 16th day of June 2013 in Manila, Philippines.

JAKEE CHAN JET LEE

Seller Buyer
 Signed in the presence of:
___________________________
__________________________

(ACKNOWLEDGMENT)