Case Study - Execution in Part

 
Robert G. Sarmiento Properties
Professional Affiliation :
Philippine Association of Real Estate Boards
Member, City of Taguig Real Estate Board 2016 - 2019
Real Estate Broker’s Association of the Philippines 2000 - 2015
President, San Juan 2008, 2009
Philippine Association of Real Estate Boards
San Juan Mandaluyong Chapter 1998, 1999
PRC # 6569
PRC Lecturer’s License # 0294
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CASE STUDY :

Here’s a recent transaction wherein due to the lockdown / quarantine rules, it wasn’t  possible for both parties to meet so this option had to be done, more of this kind of transactions to follow :

Question?

Can the Lessor can have a set of contract of lease, sign it. The same contract was printed by the Lessee and also signed on it.

We put together the signed contracts of both Lessee and Lessor, will the notary will accept and notarize  this?

Reply :

Did Lessor & Lessee sign same copy of contract of lease though separately or sign different copies of the same contract of lease separately?

Answer :

Yes, the both signed the same lease contract separately

Reply :

That’s fine. You need separate notarization for each set of the same contract of lease signed separately by the parties. That’s what we call “execution in part”.

There’s rule on this as to when the said contract of lease becomes effective between the parties. That’s when one party receives copy of the notarized doc from the other party & vice versa.

But the RULE is always the same. Lessor & lessee should appear before their respective notary publics & acknowledge their signatures on the doc. To do otherwise would render doc not properly executed.

www.robertgsarmiento.com

PRC REBL # 6569

PRC Lecturer’s License # 0294

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