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The Installment Agreement (Real Estate) is a crucial document in Philippine real estate transactions where buyers opt to purchase property through periodic payments rather than a single lump sum. This agreement type is particularly relevant in the Philippine market where installment purchases are common in both residential and commercial real estate sectors. The document must comply with specific Philippine legislation, including the Civil Code, Maceda Law, and various real estate regulations. It is typically used when there's no bank financing involved and the seller agrees to receive the purchase price in installments directly from the buyer. The agreement includes essential elements such as property details, payment terms, interest rates, default provisions, and conditions for property transfer, while ensuring consumer protection as mandated by Philippine law. It's particularly important for documenting the rights and obligations of both parties throughout the installment period, which can span several years.

1. Parties: Identification and details of the seller and purchaser, including complete legal names, addresses, and tax identification numbers

2. Background: Context of the transaction, brief description of the property, and the parties' intention to enter into an installment purchase arrangement

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Description: Detailed description of the real estate property, including lot number, location, boundaries, and title details

5. Purchase Price and Payment Terms: Total purchase price, down payment, installment amounts, payment schedule, and interest rate

6. Mode of Payment: Acceptable payment methods, payment locations or accounts, and payment verification process

7. Default and Remedies: Consequences of payment default, grace periods, and remedies available to both parties as per Maceda Law

8. Transfer of Title: Conditions and process for the transfer of property title upon completion of payments

9. Representations and Warranties: Declarations by both parties regarding their capacity, authority, and property condition

10. Rights and Obligations: Detailed responsibilities of both parties during the installment period

11. Taxes and Expenses: Allocation of taxes, registration fees, and other transaction-related expenses

12. Insurance: Requirements for property insurance during the installment period

13. Possession and Use: Terms regarding property possession, maintenance, and permitted use during the installment period

14. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional provisions

15. Dispute Resolution: Process for resolving disputes, including mediation and arbitration procedures

16. Miscellaneous Provisions: Standard clauses including severability, entire agreement, and amendments

17. Execution: Signature blocks and notarization requirements