WAIVER AND QUITCLAIM OF OWNERSHIP

KNOW ALL MEN BY THESE PRESENTS: This Quitclaim and Waiver of Owner ship is entered into between: <INSERT NAME>, of legal age, single/married, Filipino, and with address at ______________________________________ herein referred as FIRST PARTY and <INSERT NAME>, of legal age, single/married, Filipino and with address at _______________________________________ herein after referred as SECOND PARTY To wit: 1. The SECOND PARTY has laid claim over a parcel land covered under TCT no. _______________ registered under the name of ______________________; 2. In order to amicably settle the issue of ownership with regard to the said TCT no. _______________, the FIRST PARTY gave the amount of _______________________________ Pesos (PHP _________________) to the SECOND PARTY; 3. For and in consideration of the above amount received, the SECOND PARTY hereby acknowledges that the FIRST PARTY is the lawful owner of TCT no. _______________; 4. Further, upon receipt of the said amount as stated above, the SECOND PARTY has no more claim against the FIRST PARTY having received in full satisfaction the foregoing sum of money. Further, the former has no other outstanding claims against the latter; 5. The SECOND PARTY bind themselves, their successors and their assignees, to remise, to release and to forever discharge the FIRST PARTY and/or successors from any and all actions, sums of money, accounts, damages, claim and demands in law or in equity which they, their successors and their assignees may have ever had, now had or can, shall or may have against the latter for any reason whatsoever. The SECOND PARTY completely, absolutely, and finally release the FIRST PARTY, and/or successors from any and all liabilities arising or that may arise, wholly or partially, directly or indirectly; 6. This Waiver and Quitclaim of Ownership can be pleaded in bar to any suit or proceeding that the SECOND PARTY, their successors and assignees, or anyone in their behalf may have taken or may take against the FIRST PARTY; 7. Both Parties are executing this Waiver and Quitclaim of Ownership to the truth of the foregoing freely and voluntarily, and without reservation on their part. ___<DATE>___, Makati City, Philippines. FIRST PARTY: SECOND PARTY:

______________________

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<INSERT NAME>

<INSERT NAME>

Signed in the presence of:

____________________________

________________________________

ACKNOWLEDGEMENT REPUBLIC OF THE PHILIPPINES ) ____________________CITY ) S.S. Before me, a notary public for and in the above jurisdiction, this ____day of _____________ personally appeared the following: NAME ID/ID No. Issued by Date/Place of Issue

Known to me be the same persons who executed the foregoing Waiver and Quitclaim of Ownership consisting of two (2) pages including this page on which this Acknowledgement appears and acknowledged to me that the same is their own free and voluntary act and deed. Witness my hand and seal at the place and on the date first above written.

Notary Public Doc. No. Page No. Book No. Series of 2011 : : :