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Deed of Usufructuary Rights Form
Deed of Usufructuary Rights Form
-and-
WITNESSETH
WHEREAS, the grantor is the true and registered owner of a certain parcel of
land situated at _________________, Philippines, more particularly described as
follows:
WHEREAS, the GRANTOR desires to give the GRANTEE the right to 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 agreement.
3. The GRANTEE shall not lease any part or portion of the premises or the
whole thereof, without the express consent of the GRANTOR;
5. The GRANTEE shall name the property subject of this grant after the
name of the GRANTOR as an expression of gratitude for the said
generosity;
8. 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, its representatives, agents
and employees shall have complete and unimpeded access to and from
the premises at any time;
9. The GRANTOR 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;
10. The GRANTOR 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;
11. The GRANTOR 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;
14. Both the GRANTOR and the GRANTEE shall strictly observe the
sanitation and disinfection and all health protocols in the utilization of
the property subject of this grant; and
15. Both the GRANTOR and the GRANTEE shall obliged and
responsible to protect and secure the property subject of this grant as
well as the people involved in the utilization of the same and strictly
abide the provisions of this Memorandum of Agreement.
Grantor Grantee
ACKNOWLEDGEMENT
BEFORE ME, a Notary Public for and in the City of ___________ personally
appeared, ______________ with the Government Issued ID No. ___________
issued on __________ by _______________, and on _______________ by
____________, 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 _____ (___) 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.