USUFRUCT FORM Deed of Grant of Usufructuary Rights

DEED OF GRANT OF USUFRUCTUARY RIGHTS

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Grant of Usufructuary Rights entered into by and between:

______________, of legal age, Filipino, single, and a resident of ________________,Philippines,

hereinafter referred to as the " GRANTOR";
- and -
___________________, of legal age, Filipino, married, and a resident of __________________,
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 ___________, ____________ City, Philippines, more particularly described as follows:

Transfer Certifcate of Title No.

A parcel of land (Lot _____ of the Cadastral Survey of _________), with the improvements thereon,
situated in the City of _______. Bounded on the (continue the technical description of the lot xxx
containing an area of ___________ (________) 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 the GRANTEE by way of
USUFRUCT the afore described 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.

9. IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this 5th day April,
20_____
_________________________ _______________________
Grantor Grantee

SIGNED IN THE PRESENCE OF:

____________________ ____________________

ACKNOWLEDGMENT
Republic of the Philippines )
City of Bacolod ) S.S.

BEFORE ME, a Notary Public for and in the City of ________, personally appeared, ___________
with Community Tax Certifcate No. _______________ issued on _______________ at
_______________, and _______________ with Community Tax Certifcate 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 (__) 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 2018. NOTARY PUBLIC