Initial Memorandum of Understanding between Landlord and Developer/Builder
Querist :
Anonymous
(Querist) 27 May 2011
This query is : Resolved
Dear Sir/Madam,
I am the landlord for one of the property located in Andhra Pradesh and im intend to give the said land for the development to the developer/builder...
Now me and the developer/builder have come to an conclusion that we will take the deal to next level by getting into a formal MOU, wherein the Builder has also agreed to pay the token advance for the same, coz we have to complete some legal formalities before getting into development agreement...
Therefore i would request the experts to kindly help me drafting an MOU and send me a sample letter for the same...
Awaiting for experts early reply on the same...
Thanks in advance
PALNITKAR V.V.
(Expert) 27 May 2011
Dear friend, I would advise you to engage some good lawyer who will draft a proper and good MOU. I can give you model form but that may not take care of all your interests. The details of the terms and conditions to be agreed upon by you have to added in the MOU with great care. A slight mistake may cause great problems! So do not rely on model forms.
