Marriage Settlement Memorandum of Understanding (MOU) Format

 

MEMORANDUM OF UNDERSTANDING

 

This MEMORANDUM OF UNDERSTANDING   made    this       _______      day   of   _______      between

_____________________________________, son of_______________________, aged _____________about_____years residing at_______________________, hereinafter refereed to as the “First Party”

                                               AND

MS ______________, wife of _______________________, daughter of ________________, aged about ______ years, residing at_______________________________________________, hereinafter refereed to as the “Second Party”.

          PARTIES HERETO AGREES as follows:

1. In consideration of the dissolution of marriage arrived at between the parties hereto with consent and acknowledgment of their respective families, the First party shall pay a sum of Rs __________/-(Rupees _____ Only) by way of Pay orders No. _______ dated _______ drawn on _____ Bank for Rs._________/-(Rupees _______ only) & by way of Cheque No. _____ dated ______ drawn on _____ Bank for Rs._________/-(Rupees ______ only) in full and final settlement of the claims and/or the demands whatsoever or howsoever.

1. The First party has received from Second Party and Second Party has also received from the First Party all the ornaments, jewelry, valuable articles received from each other at the time of marriage and thereafter.

1. The Second Party shall duly issue receipt and acknowledge the payment made by First party in full and final settlement towards dissolution of the marriage tie.

1. In consideration of the Agreement, payment and covenant for the dissolution of the marriage as aforesaid, both the parties hereto covenant and undertake to file appropriate applications, petitions, jointly and/or severally as the situation may so require before the appropriate Court or Courts of Law for dissolution of marriage/divorce of the parties on the ground of mutual consent.

1. The Parties hereto covenants to withdraw all the proceedings, Claims, demands, allegations, complaints whatsoever filed before any authority or authorities or Court of Law or legal Forum.

1. The parties hereto futher covenants not to claim or make any demand henceforth against each other whatsoever.

1. The petition drawn up and executed for mutual divorce will be filed by the parties forthwith.

IN WITNESS WHEREOF, the parties hereto have set and subscribed their respective hands on the day, month and year first above written.

SIGNED SEALED AND DELIVERED by the “FIRST PARTY” at ________ in presence of:

                                                                                                                                                                                      _____________________________

                                                                                        ()

1.               

2.

SIGNED SEALED AND DELIVERED

By the “SECOND PARTY”, at ________ in

the presence of :

______________________________

1.

2.

RECEIPT

 

 

Received of and from the FIRST PARTY

within named by the SECOND PARTY

within named a sum of Rs ___________

(Rupees ___________ only) as per memo below:                                                                                                                                  Rs___________/-

MEMO OF CONSIDERATION

By Pay Order No.______ dated __________                       Rs ________ /-

drawn on ____Bank

By Cheque No. 207113 dated _________

drawn on ______ Bank                                                   Rs __________/-

______________

Rs ____________/-

_______________

WITNESSES:

1.

2.

_________________________________________________

Dated ………………..Day of ………….., ………….

_________________________________________________

BETWEEN

                                                        ……FIRST PARTY

                                        -AND-

                                                        ……SECOND PARTY

          ——————————————————-

          MEMORANDUM OF UNDERSTANDING

———————————————————-

___________, Advocate