CONTRACT OF LEASE OF REAL PROPERTY

A contract is a meeting of minds between two persons whereby one binds himself, with respect to the other, to give something or to render some service. (Art. 1305, NCC)

Contract is a juridical convention manifested in legal form, by virtue of which one or more persons or parties bind themselves in favor of another or others, or reciprocally, to the fulfillment of a prestation to give, to do or not to do.

SAMPLE FORM:

[1] Contract of Lease

[2] Know All Men by These Presents:

This Contract of Lease is made and executed by and between:

[3] FELIMON SIA, , of legal age, Filipino, married to Erlinda Mercado, with address at # 28 Aurora Blvd., Quezon City, hereinafter called the LESSOR;

- and –

PETER PANTS, of legal age, Filipino, married to Anastacia Lim, with address at # 30 Aurora Blvd., Quezon City, hereinafter called the LESSEE;

Witnesseth that:

[4] WHEREAS, the LESSOR is the true and absolute owner of a residential house and lot located at #30 Aurora Boulevard, Quezon City, herein after referred to as “Property” ; and

WHEREAS, the LESSOR leases unto the lessee, and the latter hereby accepts the lease from the former.

[5] NOW THEREFORE, for and in consideration of the above premises and covenants provided below, the LESSOR hereby leases the PROPERTY to the LESSEE who accepts it [6] under the following terms and conditions:

1. The lease shall be for one year from execution of this agreement;

2. The monthly rental on the PROPERTY leased shall be P5,000.00, payable in advance within the first five (5) days of each month;

3. All ordinary repairs concerning the PROPERTY shall be for the sole account and expense of the LESSEE, without right to reimbursement;

4. The LESSEE shall use the PROPERTY exclusively for family dwelling, and shall have no right to use the same for business and other purposes;

The Lessee hereby acknowledge that he has received the Property in good, habitable condition and undertake to maintain the such condition throughout the duration of the lease;

[7] FELIMON SIA PETER PANTS

Lessor Lessee

With my marital consent:

Zenaida de Guzman

Signed in the Presence of:

_____________________ ________________

[8] (ACKNOWLEDGMENT)

parts of THE contract

[1] Title

[2] Announcement

[3] Parties

[4] Whereases

[5] Agreement proper

[6] Conditions or terms

[7] Signatures

[8] Acknowledgement

Neil Christian

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