MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This Agreement made and executed this ____ day of ________________, in the City of
_____________________, Philippines, by and between:
______________________, of legal age, Filipino, married, and a resident of _______________,
hereinafter known as the 1st Party;
-and_____________________________, of legal age, Filipino, married, and a resident of
___________________, hereinafter known as the 2nd Party
WITNESSETH:
WHEREAS, the parties are married under the Laws of the Republic of the Philippines:

WHEREAS, the PARTIES property relationship is governed by the Absolute

Community/Conjugal Partnership of gains.
WHEREAS, the PARTIES, herein intends to change their property regime to Complete
Separation of property.
WHEREAS, The PARTIES owns the following properties in common:
1.)
2.)
3.)
4.)
WHEREAS, The 1ST PARTY agrees to receive the following properties as his share in the
Absolute Community/Conjugal Partnership of gains:
1.)
2.)
WHEREAS, The 2ND PARTY agrees to receive the following properties as her share in the
Absolute Community/Conjugal Partnership of gains:

1.)
2.)

NOW, THEREFORE, for and in consideration of the mutual covenants herein contained, the
PARTIES hereby upon the terms and conditions embodied herein
1. CLAIMS- The Parties shall mutually waive their right to any claim to the property that the
other party has received as share in the Absolute community/Conjugal Partnership of gains.
1.1 THIRD PARTY CLAIMS - Upon signing of this Agreement, the parties shall have notified
third party creditors/persons with pecuniary interest of this said agreement.
2. RECORDING- The capital gains tax and the documentary stamps and all other expenses for
the registration of the transfer including transfer tax shall be for the account of the Party who
shall have possession of the said property.
3. REAL ESTATE TAXES- The payment of the Real Estate Taxes due for the whole year at the
time of the Execution of the Deed of Absolute Sale shall be for the account of the party who
shall have possession of the said property.
4. COVENANT TO EXECUTE ADDITIONAL INSTRUMENTS- The partied agree to execute
and deliver any instruments in writing necessary to carry out any agreement, term, condition, or
assurance whenever occasion shall arise and request for such instruments shall be made.
5. BINDING NATURE- The covenants, terms, conditions, provisions and undertakings in this
agreement or any modifications, revisions or supplements thereof shall extend to and be binding
upon the heir, executors, administrators, successors and assigns of the PARTIES, as if they were
in very case named and expressed and shall be construed as covenants running with the land.
6. VENUE- All suits for any breach of this contract shall be instituted and maintained in the
court of competent jurisdiction in _____________ only to the exclusion of all other courts.
IN WITNESS WHEREOF, the parties have hereunto set their hands this __________day of
____________ in the _______________, Philippines.

__________________
1st PARTY

___________________
2ND PARTY

Signed in the Presence of

____________________ and ___________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
CITY OF ZAMBOANGA ) S.S
BEFORE ME, a notary Public for the Cities and Province of Cebu this ____day of
_________________ personally appeared the following [persons with their Comm. Tax Cert.
Nos.:

Comm. Tax Cert. No. ____________

Issued on ______________________
Issued at ______________________

Comm. Tax Cert. No. ____________

Issued on ______________________
Issued at ______________________

Known to me and to me known to be the same person who executed the foregoing instrument
and acknowledged to me that the same is his own free act and voluntary deed.
WITNESS MY HAND AND NOTARIAL SEAL on the Date and at the place first herein-above
written.
Doc. No. ___________
Page No.____________
Book No. ___________
Series of 200____