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Minutes of Purchase and Sale of Property With Clause of Reservation of Property Rights
Minutes of Purchase and Sale of Property With Clause of Reservation of Property Rights
Minutes of Purchase and Sale of Property With Clause of Reservation of Property Rights
In the records of Deeds in your charge, please incorporate a SALE contract, WITH PROPERTY RIGHT RESERVATION CLAUSE , of a property, lot
of land, following the provision contained in Art. 585 of the Civil Code, in accordance with the following clauses.-
FIRST A.- (THE PARTIES).- The following are part of this minute:
1.1.- Messrs.:____________________, ____________________ and ____________________ ; with CI Nos.__________, _________ and __________,
of legal age, neighbors of this, domiciled in ______ _______, hereinafter referred to as the SELLERS AND OWNERS.-
1.2.- The Lords: ____________________ and ____________________ , with CI No and __________; of legal age, spouses, General Accountant and
SECOND.- (BACKGROUND, PROPERTY).- Will you say, Mr. Notary, that the OWNERS declare that they are absolute owners in the undivided
portion of a property, a house located in ___________________, in the province ________, of this Department, by purchase made from the gentlemen
_________________ and ________________, as recorded in the private document dated _________________, and registered in Real Rights to Fojas.
and Departure. No. ____, from the first book "__" of the Province (________), on date ______________________.-
SECOND A.- (OBJECT, PRICE, PAYMENT METHOD) .- 2.1.- At present and to suit their interests and of free and spontaneous will, the SELLERS
and OWNERS transfer as SALE, WITH RESERVATION OF PROPERTY RIGHTS , the pre-named property, lot of land in favor of the BUYERS, for
2.2.- The transfer for sale will be subject to the following payment schedule:
2.2.1.- Upon subscription of this minute, the BUYERS make payment in favor of the SELLERS, the sum of $us. _____.-
(______________00/100 AMERICAN DOLLARS), sum of money deemed to have been received in accordance with the SELLERS and OWNERS, in
2.2.2.- The remaining $us. ________, the BUYERS agree to pay them within a period of ______ months, to be computed from this date, each
3.1.- By simply complying with each of the terms expressed in the previous clause, the BUYERS will be in default without the need for any judicial or
extrajudicial requirement.-
3.2.- In accordance with the provisions of Art. 585 of the Civil Code, the BUYERS receive the property, taking possession of it, but they will only acquire
ownership of the property, the plot of land that is the subject of this contract by paying the last installment.-
3.3.- By express agreement of the parties, in the event of resolution due to non-compliance by the BUYERS by not paying what is due, the SELLERS, by
right to equitable compensation for the use of the property, plus compensation for compensation for damage, will take into account their benefit the entire
advance payments.- For their part, the BUYERS will be obliged to return the property, quietly and peacefully.-
FOURTH A.- (CONTRACT EXPENSES, PROTOCOLIZATION OR OTHERS).- The expenses of the preparation of this contract, its
protocolization, or recognition, and its subsequent cancellation added to tax payments for this contract, if any, will be paid to the parties. equal for the
parts.-
QUINT A.- (OF THE DOCUMENT AND ITS EFFECTS).- In the event that this minute is not elevated to a public instrument, with the sole
recognition of signatures before the competent authority, it will have the effects of a private document.-
SEXT A.- (ACCEPTANCE) .- You will say that the parties express their full acceptance and agreement with the full tenor of this minute, in their
confirmation they sign at the bottom of it, for its faithful and strict compliance.- You, Mr. Notary It will be useful to add the other security and style
clauses.-