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    Contract of Antichresis

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    Fe Ordonez
    The document is a contract of antichresis between a debtor and creditor, where the debtor owes a principal sum and interest to the creditor. To repay the debt, the debtor agrees to allow the creditor possession of a parcel of rice land described in the contract for cultivation, with the net proceeds to be applied to the outstanding loan. The contract specifies that the creditor's right of possession is limited to a set number of years, after which possession reverts to the debtor, and that the debtor remains responsible for taxes on the property during the contract period.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    Contract of Antichresis

    Uploaded by

    Fe Ordonez
    50 views3 pages
    The document is a contract of antichresis between a debtor and creditor, where the debtor owes a principal sum and interest to the creditor. To repay the debt, the debtor agrees to allow the creditor possession of a parcel of rice land described in the contract for cultivation, with the net proceeds to be applied to the outstanding loan. The contract specifies that the creditor's right of possession is limited to a set number of years, after which possession reverts to the debtor, and that the debtor remains responsible for taxes on the property during the contract period.

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    contract of antichresis.doc

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    The document is a contract of antichresis between a debtor and creditor, where the debtor owes a principal sum and interest to the creditor. To repay the debt, the debtor agrees to allow the creditor possession of a parcel of rice land described in the contract for cultivation, with the net proceeds to be applied to the outstanding loan. The contract specifies that the creditor's right of possession is limited to a set number of years, after which possession reverts to the debtor, and that the debtor remains responsible for taxes on the property during the contract period.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    50 views3 pages

    Contract of Antichresis

    Uploaded by

    Fe Ordonez
    The document is a contract of antichresis between a debtor and creditor, where the debtor owes a principal sum and interest to the creditor. To repay the debt, the debtor agrees to allow the creditor possession of a parcel of rice land described in the contract for cultivation, with the net proceeds to be applied to the outstanding loan. The contract specifies that the creditor's right of possession is limited to a set number of years, after which possession reverts to the debtor, and that the debtor remains responsible for taxes on the property during the contract period.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    CONTRACT OF ANTICHRESIS

    KNOWALL MEN BY THESE PRESENTS:

    This CONTRACT OF ANTICHRESIS made and entered into this _____________ day of  _______________

    19_____, by and between  _______________, of age, single (or married to____________________), residing at

    ____________________, hereinafter called the DEBTOR, and ____________________, of age, single (or married to

    _________________________), residing at __________________________, hereinafter called the CREDITOR,

    Witnesseth:

    That the DEBTOR hereby acknowledges to be indebted to the CREDITOR in the principal sum of ___________

    PESOS (P__________) due and payable since  _______________ , 19_____           , with interest at the rate of _____%

    from ____________, the date of the loan;

            That the accrued interest alone now due and payable on the principal amounts to _________________ PESOS

    (P____________), as of _________________ ,19_____;

            That the total amount owing by the DEBTOR to the CREDITOR, including the interest is ________________PESOS

    (P__________) as of this date;

            That the DEBTOR, in order to be able to pay the CREDITOR, hereby agrees to permit and allow the latter to take

    possession of a certain parcel of rice land belonging to the DEBTOR, located in ___________________ and more particularly

    described as follows, to wit:

    (Description of DEBTOR'S property),

    Which land is covered by T.C.T. No. ____________________of the registry of

    deeds of the province of ____________________;


             That the CREDITOR by virtue hereof shall have the. right to cultivate, and receive the fruits of, the above-described

    land, with the obligation of applying the net proceeds thereof to the extinguishment of the above-mentioned loan;

             That the net market value of the fruits obtained or harvested at the time of the application thereof to the interest and

    principal shall be the measure of such application of payments;

             That the parties hereby agree that the DEBTOR shall not reacquire the possession and enjoyment of the above-

    described property without first having totally paid what he owes the CREDITOR: Provided, however, that in no case shall the

    right of possession and enjoyment on the part of the CREDITOR continue for more than ___________ years, after which the

    right of possession and enjoyment shall revert automatically to the DEBTOR, without prejudice on the part of the CREDITOR

    to avail himself of the other remedies provided for by existing law.

               It is also agreed that while this contract is in effect, all taxes and other charges upon the estate in question shall be for the

    account of the DEBTOR.

    IN WITNESS WHEREOF, the parties hereto have hereunto signed this contract the day and year first above written,

    in the municipality of _______________________, province of ______________________,Philippines.

    ___________________________                                          ____________________________

                            (Creditor)                                                                             (Debtor)           

                     

     Signed in the presence of:

     __________________________

     __________________________
                                                                       ACKNOWLEDGMENT

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