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MEMORANDUM OF UNDERSTANDING
Xyz
And
Abc
Re: Memorandum of Understanding for Sale of Immovable Property

THIS MEMORANDUM OF UNDERSTANDING is made and entered into

at Hyderabad, on this 22nd day of January

BETWEEN

Xyz, Aged About---Occupation, presently having address at Flat No---

hereinafter referred to as the ‘VENDOR’

(Which expression unless repugnant to the context or meaning thereof shall

mean and include their heirs, executors, administrators and assigns) of the
FIRSTPART;

AND

ABC, Aged About, Occupation: Business presently residing at

,
hereinafter referred to as the ‘PURCHASER’
(Which expression unless repugnant to the context or meaning thereof
shall mean and include his heirs, executors, administrators and assigns) of
the SECOND PART:

WHEREAS the VENDOR is the exclusive owner of the property more fully
described in the schedule hereunder and he has absolute right to dispose of
the same as in the manner he wishes;
schedule of the property:
E
N
W
S

AND WHEREAS the vendors herein have acquired the said property from
their------
AND WHEREAS the vendor came to purchaser and expressed his
interest in selling of the above said schedule property, The Seller
agrees to sell and the Buyer agrees to purchase the said property
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both the parties hereto have agreed to the above arrangements on the
following terms and conditions:

1. The vendors have agreed to transfer their right, title and interest in the
abovesaid Land and the herein for the total lump-sum
consideration of Rs. /- (Rupees
only).

2. The purchaser herein has also agreed to acquire the said p r o p e r t y

a t total lump-sum consideration of Rs. /- (Rupees
Only) which sum
will be paid by the Purchaser to the vendors as under:

(a) A sum of Rs. (Rupees :

) has been paid on or before
execution of this M. O. U.;

(b) The balance sum of Rs. (Rupees :

) will be paid by the
Purchaser to the vendors on or before , against
delivery of the vacant and peaceful possession that is the full
and final payment shall be made positively.

3. Both the parties hereto have agreed that the deal will be completed on
or before
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4. The vendors hereby undertake and agree to deliver vacant and

peaceful possession of the said property to the Purchaser herein on
receipt of the balance amount of Rs. as mentioned
herein and the Agreement for Sale along with the full set of transfer
papers/forms/undertakings will be made and executed at that time by
the parties hereto.

5. The vendors will pay all the taxes and maintenance charges in respect
of the said property up to the date of handing over the possession of
the said plot to the purchaser herein and and thereafter the Purchaser
will pay the same and will also abide by the bye-laws whatsoever.

6. The vendors hereby declare and confirm that on execution of this

M.O.U., they will not deal with anyone else and will abide by the
terms and conditions of this MOU.

7. The vendors hereby declare and confirm that the abovesaid Plot is free
from all encumbrances and that they have all the right and power to
transfer the same to the Purchaser herein.

8. The vendors hereby declare that they have full right and absolute
authority to enter into this MOU and transfer the said Land and
that they have not done or performed any act, deed, matter or things
whatsoever whereby he may be prevented from entering into this
MOU for the sale and transfer of the said plot as purported to be done
hereby or whereby the Purchaser is not able to get the possession of
the said Land against the payment of the balance consideration.

9. The Vendor and purchaser herein have agreed to settle the dispute
arising out of or in connection with this Mou dated---- through
Arbitration or Mediation

10. All information of this MOU should remains confidential by both

parties and is not disclosed to any unauthorized third parties
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11. The Parties hereby agree that the Purchasers shall be free to carry out
their investigation of title of the said Flat in any manner they desire
after execution of this MOU.

12. In the event, the Vendor are unable to complete the transaction as
stipulated hereinabove for any reasons those are in their control then
the Purchasers shall be entitled to receive as deposit money with
penalty within 7 days of notifying by the Purchasers to the Vendors in
writing / email.

13. The Conditions Precedent, time as to payment and handing over

peaceful and vacant possession of the said Flat as enumerated
hereinabove are the essence of this MOU.

14. The stamp duty and registration charges payable on the Agreement
for Sale/Deed of Transfer and this MOU, if any, shall be borne and
paid by the Purchasers alone.

15. Save as otherwise provided hereinabove all costs, charges and

expenses of and incidental to this transaction and/or any other
documents to be executed in pursuance hereof shall be borne and paid
by the respective parties incurring the same.

16. This MOU has been executed at Hyderabad, the property is situated at
Hyderabad and the payment is made at Hyderabad, hence it is
subject to the jurisdiction of the courts of law at Hyderabad.

17. This MOU shall not be altered, modified or supplemented except with
the prior written approval of the parties, and all such alterations,
modifications and supplemental writings shall be effective, valid and
binding only if the same are recorded in writing and executed by both
the Parties.

IN WITNESS WHEREOF the parties hereunto have put and subscribed their
respective hands the day and year first hereinabove written.

SIGNED, SEALED AND DELIVERED )

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By the withinnamed VENDORS )

In the presence of )

SIGNED, SEALED AND DELIVERED )

By the withinnamed PURCHASER )
)
In the presence of )
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RECEIPT

RECEIVED from the withinnamed Purchaser,

MR. , a sum of Rs.
(Rupees: ) being the part
payment/consideration of the sale and transfer of the Flat No.

I SAY RECEIVED,

WITNESSES:

1.

VENDORS

The final Agreement for Sale will be prepared and executed at the time of
making balance full and final payment and till that time, this Memorandum
of Understanding is made and executed by and between the parties hereto as
under: