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Side Agreement (Real Estate) for Philippines

Side Agreement (Real Estate) Template for Philippines

A Side Agreement (Real Estate) under Philippine law is a supplementary contract that modifies, clarifies, or adds to the terms of a main real estate agreement. This document is governed by Philippine civil law, particularly the Civil Code of the Philippines and relevant real estate regulations. It typically addresses specific aspects of the real estate transaction that require separate or additional treatment from the main agreement, such as special payment terms, property management arrangements, or specific conditions precedent. The agreement must comply with Philippine property laws, including foreign ownership restrictions and local government regulations.

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Side Agreement (Real Estate)

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What is a Side Agreement (Real Estate)?

A Side Agreement (Real Estate) is commonly used in Philippine real estate transactions when parties need to address specific aspects of their arrangement separately from the main agreement. This document type is particularly useful when dealing with confidential terms, special conditions, or modifications to the main agreement that are better addressed in a separate document. It must comply with Philippine real estate laws, including the Civil Code, Property Registration Decree, and local government regulations. The agreement is typically used in situations involving property development, commercial leases, joint ventures, or complex real estate transactions where additional terms or clarifications are needed. The document should be carefully drafted to ensure consistency with the main agreement while addressing specific real estate matters that require separate treatment.

What sections should be included in a Side Agreement (Real Estate)?

1. Parties: Identification of all parties to the side agreement, ensuring they match or are related to the parties in the main agreement

2. Background: Context of the side agreement, including reference to the main agreement and explanation of why this side agreement is necessary

3. Definitions: Key terms used in the agreement, including references to definitions in the main agreement where applicable

4. Relationship to Main Agreement: Clear statement of how this side agreement relates to and interacts with the main agreement

5. Additional Terms: New terms or modifications to the main agreement's terms specifically related to the real estate aspects

6. Duration and Termination: Period of effectiveness and conditions for termination of the side agreement

7. Confidentiality: Provisions regarding the confidential nature of the side agreement and its terms

8. Governing Law and Jurisdiction: Confirmation of Philippine law application and jurisdiction for dispute resolution

9. Execution: Signature blocks and execution requirements compliant with Philippine law

What sections are optional to include in a Side Agreement (Real Estate)?

1. Property Description: Detailed description of the real estate property if not fully covered in main agreement

2. Price Adjustments: Any modifications to pricing or payment terms specific to the real estate aspect

3. Special Conditions: Any unique terms or conditions specific to the real estate transaction

4. Registration Requirements: Specific provisions about property registration if relevant

5. Tax Provisions: Specific tax-related provisions if different from main agreement

6. Foreign Ownership Compliance: Required if any party is foreign-owned or controlled

7. Local Government Compliance: Required if specific local government requirements need to be addressed

8. Insurance Requirements: Additional insurance requirements specific to the property

9. Environmental Provisions: Required if environmental issues need to be addressed

What schedules should be included in a Side Agreement (Real Estate)?

1. Schedule 1 - Property Details: Detailed technical description of the property, including boundaries and technical specifications

2. Schedule 2 - Related Documents: List and copies of relevant documents referenced in the side agreement

3. Schedule 3 - Payment Schedule: If applicable, modified or additional payment terms

4. Schedule 4 - Compliance Requirements: List of specific compliance requirements under Philippine law

5. Appendix A - Property Documents: Copies of relevant property documents, titles, or certificates

6. Appendix B - Main Agreement Extract: Relevant excerpts from the main agreement that are modified or referenced

7. Appendix C - Required Permits: Copies of necessary permits or licenses related to the property

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions








































Clauses



































Relevant Industries

Real Estate

Construction

Property Development

Banking & Finance

Retail

Hospitality

Industrial & Manufacturing

Commercial Office Space

Residential Development

Infrastructure

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Corporate Development

Investment

Operations

Finance

Commercial

Risk Management

Relevant Roles

Real Estate Lawyer

Property Manager

Real Estate Developer

Corporate Counsel

Legal Director

Real Estate Broker

Commercial Director

Investment Manager

Compliance Officer

Contract Manager

Property Development Manager

Asset Manager

Real Estate Investment Analyst

Facilities Manager

Transaction Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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