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Sample Deed of Usufruct Over A Real Property

The document grants usufructuary rights over a parcel of land from the grantor to the grantee. Specifically, it transfers use and enjoyment of the fruits of the property to the grantee for life in exchange for the grantee assuming obligations to preserve, maintain and insure the property. The grantee can build on the land but must pay related taxes and costs and cannot lease the property without permission. The grantor retains rights to recover the property if terms are violated.

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657 views5 pages

Sample Deed of Usufruct Over A Real Property

The document grants usufructuary rights over a parcel of land from the grantor to the grantee. Specifically, it transfers use and enjoyment of the fruits of the property to the grantee for life in exchange for the grantee assuming obligations to preserve, maintain and insure the property. The grantee can build on the land but must pay related taxes and costs and cannot lease the property without permission. The grantor retains rights to recover the property if terms are violated.

Uploaded by

lucy
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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DEED OF GRANT OF USUFRUCTUARY RIGHTS

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Grant of Usufructuary Rights entered into


by and between:

RYLAI CRESTFALL, of legal age, Filipino,


single, and a resident of Bacolod City,
Philippines, hereinafter referred to as the "
GRANTOR";

- and -

KARDEL SHARPEYE, of legal age,


Filipino, married, and a resident of Bacolod
City, Philippines, (hereinafter referred to as
the " GRANTEE");

WITNESSETH that –

WHEREAS, the GRANTOR is the true and registered


owner of a certain parcel of land situated at Barangay
Villamonte, Bacolod City, Philippines, more particularly
described as follows:

Transfer Certificate of Title No. T-786563

A parcel of land (Lot 2442 of the Cadastral Survey of


Bacolod), with the improvements thereon, situated in the
City of Bacolod. Bounded on the N., and NE., by Lot No.
2441; on the SW., by Lot 2444; and on the W., by Lot No.
2444; and on the W., by Lot 2443. xxx containing an area of
THREE THOUSAND FIVE HUNDRED AND EIGHTY-THREE
(3,583) Square Meters, more or less.

WHEREAS, the GRANTOR desires to give to the


GRANTEE the right of usufruct over the said real property
with the latter having the full right to the use and enjoyment
of the fruits of the property in return for his assuming the
obligation to preserve the property during the term of the
usufruct.

NOW THEREFORE, for and in consideration of the


mutual agreements, covenants and stipulations hereinafter
set forth, the GRANTOR hereby transfers and conveys unto
Page 2 of 5
Deed of Grant of Usufructuary
Rights x------------------------------------x

the GRANTEE by way of USUFRUCT the aforedescribed


parcel of land, subject to the following terms and conditions:

1. This grant of Usufruct shall be valid and binding during


the lifetime of the GRANTEE and his descendants
subject to the condition that they shall actually be in
possession and residing in the premises covered by the
grant;

2. The GRANTEE shall pay and be liable for all taxes,


licenses, permits, duties, levies and such other charges
as the Government or any of its instrumentalities and
agencies may impose by reason of and arising out of
this agreement and its implementation, including the
real property taxes;

3. The GRANTEE may build and construct any building or


improvement on the property subject of this grant
provided that the GRANTEE hereby agrees and binds
himself to insure at his expense the building, furnishing
and equipment built or placed thereon against loss by
fire, typhoon, flood or other similar natural events. In
no case shall the GRANTOR be liable for any loss,
damage or injury that may arise by reason of the use
and enjoyment of the fruits of said property by the
GRANTEE;

4. The GRANTEE shall defray all expenses for building and


maintenance including cost of power, water, telephone
and other utilities attached, connected or related to the
operation of the improvement introduced on the
property subject of this agreement;

5. The GRANTEE shall, at his own expense, make all


necessary repairs to keep the premises and all its
equipment and facilities from deteriorating in value or
condition during the term of the grant;

6. The GRANTEE shall not lease any part or portion of the


premises or the whole thereof, without the express
consent of the GRANTOR;

7. The GRANTOR hereby covenants with the GRANTEE


that the latter shall peaceably hold and enjoy the full
use and possession of the premises during the period
of the grant. The GRANTEE, her representatives,
agents and
employees shall have complete and unimpeded access
to and from the premises at any time;

8. The GRANTOR may immediately recover possession the


aforedescribed real property, including all permanent
structures and improvements introduced thereon,
without obligation to reimburse the herein GRANTEE,
and terminate the usufruct should the GRANTEE violate
any of the provisions of this Deed or fail to comply with
its obligations as a usufructuary as provided in the New
Civil Code of the Philippines, the applicable provisions
of which are incorporated herein and deemed part of
the provisions of this Deed.

IN WITNESS WHEREOF, the parties have hereunto


affixed their signatures this in Bacolod
City, Philippines.

RYLAI CRESTFALL KARDEL


SHARPEYE

Grantor Grantee

SIGNED IN THE PRESENCE OF:


ACKNOWLEDGMENT

Republic of the Philippines


) City
of Bacolod ) S.S.

x-------------------------------x

BEFORE ME, a Notary Public for and in the City of


Bacolod, personally appeared, RYLAI CRESTFALL with
Community Tax Certificate No. issued on
at , and KARDEL SHARPEYE
with Community Tax Certificate No. issued on
at , both whom I have identified
through competent evidence of identity and who represented
to me that their respective signatures on the foregoing
instrument were voluntarily affixed by them for the purposes
stated in the instrument and who declared that they have
executed the foregoing instrument as their free and voluntary
act and deed.

This Instrument consists of only four (4) pages,


including this page in which this acknowledgment is written,
duly signed by the parties and their instrumental witnesses
on each and every page hereof.

WITNESS MY HAND AND SEAL this


in Bacolod City, Philippines.
Doc. No. ;
Page No.
; Book
No.
;

Series of 2016.

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