EXCLUSIVE OPTION TO PURCHASE AGREEMENT
KNOW ALL MEN BY THESE PRESENTS:
This Exclusive Option to Purchase Agreement is made and executed by and
between:
(NAME OF GRANTOR), of legal age, Filipino, married to (Name of Spouse), and a
resident of (Place of Residence), hereinafter referred to as the “GRANTOR”;
-and-
(NAME OF GRANTEE), of legal age, Filipino, married to (Name of Spouse), and a
resident of (Place of Residence), hereinafter referred to as the “GRANTEE”.
WITNESSETH: That –
WHEREAS, the GRANTOR is the absolute and registered owner of a parcel of
land situated at (Barangay, City/Municipality, Province), Philippines, covered by
(Transfer/Original Certificate of Title Number) of the Registry of Deeds for (Place) /
(Tax Declaration Number) of the Municipal/City Assessor of (Place);
WHEREAS the GRANTEE wishes to purchase the said parcel of land for good
and valuable consideration from the GRANTOR;
NOW, THEREFORE, the GRANTOR hereby grants unto said GRANTEE the
EXCLUSIVE OPTION to buy the said real property [with/without improvements] situated
at (Barangay, City/Municipality, Province), Philippines, and more particularly described
as follows:
TRANSFER CERTIFICATE OF TITLE NO. __________
A parcel of land (Lot ___, Block ___, of the consolidation-subdivision plan, Pcs-
_________, being a portion of _______, and _______, Psd-_______), situated in the
Barrio of _______, City of _______, Island of _______. Bounded on the NW. and NE.
along lines 1-2-3-4-5 by Road Lot 6, on the SE. along line 5-6 by Lot 35, Block 13,
along line 6-7 by Lot 34, Block 13, on the SW. along line 7-1 by Lot 37, Block 13, all of
the consolidation-subdivision plan; containing an area of TWO HUNDRED (200)
SQUARE METERS, more or less. (A copy of TCT _______ is herein attached as Annex
“A”)
That the purchase price of the above-described property is hereby agreed at (AMOUNT
IN WORDS) PESOS (Amount in Figures) Philippine currency, payable within the period of this
option, which shall expire on (Date of Expiry), at (Time of Expiry);
That the GRANTEE, upon deciding to exercise the right under this option, shall serve
written notice to the GRANTOR at least ten (10) days in advance of the date to be fixed for the
execution of the Deed of Absolute Sale, together with such other legal papers as may be
necessary, and simultaneously for the delivery of the agreed purchase price;
That it is further agreed that if the GRANTEE shall fail to exercise the right under this
option within the period above stipulated, or fail to pay the agreed purchase price on the date
set for the execution of the necessary instruments, then this option shall be deemed
automatically cancelled and rendered of unenforceable and of no effect, and the consideration
paid thereof forfeited in favor of the GRANTOR: Provided, however, that if the sale be
consummated, the consideration of this option received by the GRANTOR shall be applied as
part of the agreed purchase price; and
That all incidental expenses including attorney’s fees and Documentary Stamps and
Capital Gains Tax shall be for the account of the GRANTOR or Seller, and the registration fees
and transfer tax for the transfer of title to the GRANTEE or Buyer shall be for the account of the
latter.
IN WITNESS WHEREOF, the parties have caused these presents to be signed
on (Date) at (Place).
(NAME OF GRANTOR)
Grantor
With my marital consent: (NAME OF SPOUSE OF GRANTOR)
(NAME OF GRANTEE)
Grantee
Witnesses: ______________________ ______________________
ACKNOWLEDGMENT
Republic of the Philippines )
City of _______________ ) S.S.
BEFORE ME, a Notary Public for and in the city named above, this ____ day of
_________________, personally appeared the following
DATE & PLACE
NAME I.D. NO.
ISSUED
GRANTOR
SPOUSE OF GRANTOR
GRANTEE
known to me and to me known to be the same persons who executed this Exclusive
Option to Purchase Agreement and acknowledged to me that the same is their free and
voluntary act and deed.
The foregoing document relates to an Exclusive Option to Purchase Agreement,
consisting of ________ (___) pages including the page on which this acknowledgment
is written and has been signed on each page by the parties and their instrumental
witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND NOTARIAL SEAL on the date and place first above
written.
Doc. No. _____;
Page No. _____;
Book No._____;
Series of _____.
