If you are based abroad and wanted to buy a real estate property here in the Philippines, you will most like want to be represented by a person you can personally trust to handle the transaction on your behalf. Essentially, that person will have the authority to sign the documents, handle the payments, or negotiate the purchase, to mention just a few. He is called your attorney-in-fact and your granting him/her the authority is elaborated in a legal document called the Special Power of Attorney.
A sample Special Power of Attorney is shown below for your reference.
SPECIAL POWER OF ATTORNEY
That I, _________________________________________________, single, of legal age, Filipino, with residence and postal address at _____________________________________________ do hereby name, appoint, and constitute _________________________________, also of legal age, Filipino, as my true and lawful ATTORNEY-IN-FACT for and in my place, stead and behalf, to do any and/or all of the following acts, to wit:
1. To do and perform any/all acts necessary and/or desirable to effect purchase of real property(ies), with or without improvements thereon (hereinafter called “property”) including, but not limited to the following acts:
- To negotiate and/or agree to the terms and conditions of the purchase and other matters relating thereto, and choose as well as decide on the details/particulars of the property to be purchased:
- To enter, execute, sign deliver all contracts and agreements, including but not limited to the Option to Purchase Agreement, Contract to Sell. Deed of Absolute Sale, and other documents, papers pertinent to the purchase;
- To make payments relative to the purchase;
- To change, replace the property originally or previously chosen/reserved;
- To withdraw from or cancel the agreements/contracts entered into by me or on behalf, and receive refunds or any other amount(s) due me, in the name of the ATTORNEY-IN-FACT;
- To receive copies of documents that should have been furnished to GRANTEE and/or BUYER, such as copies of the Option To Purchase Agreement, Contract to Sell, Deed of Absolute Sale, and other documents involving the property;
- To receive the key to the unit and sign the relevant documents acknowledging receipt of the property, in good and proper condition, and thereby absolving the GRANTOR/SELLER, as the case may be, from any liability with respect to the property;
- To receive communications and messages from GRANTOR/SELLER relating to the purchase.
2. To sign and execute Deed of Absolute Sale, Mortgage Contract and/or other documents in connection with the application from the ______________________ for loan in an amount(s) that may be approved by the said Bank/Developer and offering as security for the payments of the said loan, the property(ies) known as Lot(s) ______ of the original Transfer Certificate of Title _________________ under such terms and conditions as may said ATTORNEY-IN-FACT may deem and convenient;
3. To sign, execute, and deliver promissory note(s) and/or other documents in favor of the ___________________ as well as other Bank/Developer and its assigns in connection with the said loan;
4. To receive the proceeds of the promissory note(s) and/or other documents which my said ATTORNEY-IN-FACT may execute in connection with the said loan;
5. To cash, endorse or negotiate the checks that may be issued by the ________________ in connection with the said loan;
6. To sell, mortgage, pledge, lease, agree, or in any manner dispose of the whole or part of the property, for which I am registered buyer(s);
7. To compromise, settle, and agree judicially or extra judicially matters concerning the loan extended to me by __________________________________________ through __________________________________________ and secured by the property.
HEREBY GIVING AND GRANTING unto my said attorney full powers and authority to do and perform all or any acts requisite and/or necessary to carry into effect the foregoing authorities, as fully to all intents and purpose as I might or could lawfully do, if personally present and acting in person, and HEREBY RATIFYING AND CONFIRMING all that my said ATTORNEY-IN-FACT may also do or cause to be done under and by virtue of these presents.
IN WITNESS WHEREOF, I have hereunto affix my signature at ___________ this _______ day of __________.
SIGNED IN THE PRESENCE OF:
Republic of the Philippines)
BEFORE ME, a Notary Public for and in the above jurisdiction personally appeared this ________________ day of ____________ 20_____.
|NAME||RES. CERT. NO.||DATE /PLACE ISSUED|
known to me to be the same persons who executed the foregoing instrument and each of them acknowledge to me that the same is his/her own free and voluntary act and deed as well as the free voluntary act deed.
WITNESS MY HAND AND NOTARIAL SEAL on the date and at the place first above written.
Doc No. ______________
Page No. ______________
Book No. _____________
Series of ______________
This document must be signed and notarized by a lawyer.