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Assignment in Payment of Debt

The document records an assignment between a debtor and creditor, where the debtor transfers ownership of a property described in the document to the creditor in settlement of a debt. It specifies the debt amount, provides identifying details of both parties, and includes signatures to finalize the property transfer with an option for the debtor to repurchase the property within a specified period.

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Jomel Arzadon Barrozo
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239 views

Assignment in Payment of Debt

The document records an assignment between a debtor and creditor, where the debtor transfers ownership of a property described in the document to the creditor in settlement of a debt. It specifies the debt amount, provides identifying details of both parties, and includes signatures to finalize the property transfer with an option for the debtor to repurchase the property within a specified period.

Uploaded by

Jomel Arzadon Barrozo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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DEED OF ASSIGNMENT

KNOW ALL MEN BY THESE PRESENTS:

This INSTRUMENT, made and executed by and between (FULL NAME OF


DEBTOR), married to………………………., of legal age, ……………., Filipino citizen and
resident of ……………………, hereinafter called the ASSIGNOR, and (Full name of
CREDITOR), married to……., of legal age, Filipino citizen and with residence and postal
address at…………, hereinafter called the ASSIGNEE,

WITNESSETH
That the ASSIGNOR acknowledging to be justly indebted to the ASIGNEE in the sum of
……………………., Pesos (P…….), Philippine currency, as of this date, he (or she), in full
settlement thereof, does by these presents assign, transfer, convey and set over unto the
ASSIGNEE that certain real estate, with the buildings and improvement thereon, situated at
…………………………………., and more particularly described as follows:

(Description of Property)

of which the ASSIGNOR us the registered owner, his/her title thereto being evidenced by
Transfer/Original Certificate of Title No……, issued by the Registrar of Deeds of
…………………

That the ASSIGNE does hereby accept this assignment in payment of the total obligation
owing to him/her by the ASSIGNOR as above stated, (giving to the ASIGNOR, however, an
option to repurchase the above-described property from ASSIGNEE for the sum of
………………………. Pesos (P,,,,,,,), within a period of…………………. Months from and
after date hereof, which right shall automatically be deemed cancelled, if not exercised within
said period.)

IN WITNESS WHEREOF, parties have hereunto set their hands this ____ day of ______ 2019,
in Dagupan City, Pangasinan, Philippines.

Assignor Assignee
CTC. No. CTC No.
Issued on Issued on
at at

WITH MY MARITAL CONSENT: (wife or husband of Assgnor)

SIGNED IN THE PRESENCE OF:


1. 2.

ACKNOWLEDGEMENT

Republic of the Philippines)


Province of Pangasinan….) S.S.
City of Dagupan…………..)

BEFORE ME, a Notary Public, for and the City of Dagupan this ____ day of ___________ 2019
personally appeared _______________ and ____________________ with their Community Tax
Certificate as above-noted, who represented to me to be the same persons, who executed the foregoing
instrument acknowledged to me that the same is their free act and voluntary deed.

Witness my hand and seal on the date and place above-written.

Doc. No.
Page No.
Book No.
Series of 2019.

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