WHEREAS, the SELLER is the legitimate registered owner of a motor vehicle specifically described as follows: WHEREAS, the BUYER has offered to purchase the subject vehicle from the SELLER and the latter has agreed to sell the same to the BUYER. NOW THEREFORE, for and in consideration of the sum of FIFTY THOUSAND PESOS (PHP 50, 000.00), the receipt whereof is hereby acknowledged in full and to its entire satisfaction, the SELLER have sold, ceded, transferred and conveyed and, by these presents, do hereby sell, cede, transfer and convey unto and in favor of the BUYER, his heirs, successors and assigns, the subject motor vehicle free from any and all liens and encumbrances of whatsoever kind and nature. SELLER hereby warrants full title and ownership over the subject vehicle; AND, BUYER hereby acknowledges receipt over the physical and material possession of the subject vehicle and agrees to be fully responsible thereon, including for the transfer of the ownership to his name. 


 
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