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    MOA - Loan - Sample

    Uploaded by

    Jean Gorospe
    This memorandum of agreement is between two parties in the Philippines regarding a financial transaction and loan. The second party received a loan and is using a parcel of land as collateral. Key details: 1. The first party loaned the second party money, who acknowledged receipt of the loan. 2. As security, the second party offered a parcel of land that they own, transferring the title document to the first party. 3. If the loan is repaid in full, the agreement will be void and the land title returned to the second party.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    MOA - Loan - Sample

    Uploaded by

    Jean Gorospe
    48 views2 pages
    This memorandum of agreement is between two parties in the Philippines regarding a financial transaction and loan. The second party received a loan and is using a parcel of land as collateral. Key details: 1. The first party loaned the second party money, who acknowledged receipt of the loan. 2. As security, the second party offered a parcel of land that they own, transferring the title document to the first party. 3. If the loan is repaid in full, the agreement will be void and the land title returned to the second party.

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    MOA - Loan -Sample

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    This memorandum of agreement is between two parties in the Philippines regarding a financial transaction and loan. The second party received a loan and is using a parcel of land as collateral. Key details: 1. The first party loaned the second party money, who acknowledged receipt of the loan. 2. As security, the second party offered a parcel of land that they own, transferring the title document to the first party. 3. If the loan is repaid in full, the agreement will be void and the land title returned to the second party.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    48 views2 pages

    MOA - Loan - Sample

    Uploaded by

    Jean Gorospe
    This memorandum of agreement is between two parties in the Philippines regarding a financial transaction and loan. The second party received a loan and is using a parcel of land as collateral. Key details: 1. The first party loaned the second party money, who acknowledged receipt of the loan. 2. As security, the second party offered a parcel of land that they own, transferring the title document to the first party. 3. If the loan is repaid in full, the agreement will be void and the land title returned to the second party.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    MEMORANDUM OF AGREEMENT

    KNOW ALL MEN BY THESE PRESENTS:

    This AGREEMENT made and entered into by and


    between:___________________________, Filipino citizen, of legal age, married, and a
    resident of Poblacion, Alabel, Sarangani Province, hereinafter referred to as the FIRST
    PARTY; and____________________________, Filipino citizen, of legal age, widower
    and a resident of Poblacion, Alabel, Sarangani Province, hereinafter called the SECOND
    PARTY.

    WITNESSETH

    WHEREAS, the above-named parties have entered into a financial transaction in a


    form of loan;

    WHEREAS, the SECOND PARTY, is the lawful owner of a parcel of land,


    described below, and offers the same as collateral/security for his loan obligation with the
    FIRST PARTY, to wit:

    “A PARCEL OF LAND KNOWN AND DESCRIBED AS LOT


    NO.______, PSD-_______, SITUATED IN THE BARRIO OF
    POBLACION, MUNICIPALITY OF ALABEL, PROVINCE
    OF SARANGANI, ISLAND OF MINDANAO, CONTAINING
    AN AREA OF ___________________(____) SQUARE
    METERS, MORE OR LESS AND COVERED BY TRANSFER
    CERTIFICATE OF TITLE NO._____________ .”

    NOW THEREFORE, for and in consideration of the foregoing, the parties


    hereto have agreed and covenanted as follows, to wit:

    1. That the FIRST PARTY granted a loan of money to the SECOND PARTY in
    the amount of __________________________ (PhP_________), which is
    acknowledged receipt by the latter, and same is payable within___________.
    The parties agree that said payment shall be made in full;

    2. That as security for said loan obligation, the SECOND PARTY voluntarily
    offered the abovementioned parcel of land as security thereof, and for said
    purpose, deposits to the FIRST PARTY the original owner’s duplicate copy of
    Transfer Certificate of Title No. _________ which is accepted by the FIRST
    PARTY;

    3. That in case of full payment by the SECOND PARTY, this agreement shall be
    declared of no force and effect and the SECOND PARTY shall be released
    from his obligations.; and

    4. That this agreement shall bind the parties, their heirs, assigns and successors-
    in-interest.

    IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this
    ____________________ at General Santos City, Philippines.
    ______________________ ________________________
    First Party Second Party
    ID No. _________________ ID No. ________________

    WITNESSES: 1)_________________ 2) ________________________

    REPUBLIC OF THE PHILIPPINES)


    CITY OF GENERAL SANTOS )S.S.
    x-------------------------------------------x

    ACKNOWLEDGMENT

    BEFORE ME this ______________________ at General Santos City, personally


    appeared the above-named persons with their CEIs indicated below their names, known
    to me to be the same persons who executed the foregoing instrument and they
    acknowledged to me that the same is their own, free and voluntary act and deed.

    WITNESS MY HAND AND NOTARIAL SEAL.

    Doc. No.______;
    Page No.______;
    Book No.______;
    Series of 2023.

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