Memorandum of Understanding for Property

It is often a common thing to have most people prepare a set of memorandum of understanding for their property. This is often basically to prove certain things and as such no one will later intrude with a mentality of confiscating the property. Memorandum of understanding for property is most at times done at the family level where there is no problem whatsoever when it is time for sharing of the property. Most family heads often take the advantage of their positions in the family to draft a memorandum of understanding for their own property. Perhaps this is often done to avoid any form of confusion in the near future.

Memorandum of Understanding for Property A set of memorandum of understanding for property basically informs anyone who reads it how a particular property is to be handled. Well it is often a usual thing to have people say they want some particular people to possess their property when perhaps they are not around or may be deceased. This kind of agreement for the property will only be successfully if and only if the family members can pay heed to it. Most families often believe that, any property left behind by their parents is often for all of them. But it is worthwhile to mention that it is often a common thing for most parents to allow most of the property to go to a particular person in the family. To be precise, below is a typical memorandum of understanding for property;

Memorandum of Understanding

Between

Party A

And

Party B

The two memorandum of understanding agree to the following and as such is supposed to obey exactly what is discussed for the property;

Article 1; Purpose and Scope

Article 2; Conditions and Arrangements

Article 3; Timing

Article 4; Future Cooperation

This particular memorandum of understanding is for the property discussed and each party is supposed to follow directly what the memorandum says;

Signature;…………………………………. Signature;…………………………….

For and on behalf

Of;………………………………………………

For and on behalf

Of;…………………………………………

Date;………………………………………….

Many properties which are usually very difficult to be shared would have been very easy to be shared among those involved provided there is a memorandum of understanding.