Memorandum of Understanding (United Kingdom) Form

Type of Letter of Intent

What type of transaction is this letter being used for?

Buying real estate

Buying a business

Leasing real estate

Merging businesses

Buying assets

Buying shares

Other

Frequently Asked Questions

Memorandum of Understanding or
Letter of Intent?For legal purposes, a Memorandum of Understanding is the same as a Letter of Intent.What is a letter of intent?A Letter of Intent is NOT binding on either party and is only an expression of an intent to continue negotiations in good faith.

Purchaser Info

Type:

IndividualCorporation

Name:

Full address:

Add another Purchaser

Seller Info

Type:

IndividualCorporation

Name:

Full address:

Add another Sellers

Transaction Description

What type of real estate is being sold?

Commercial

Residential

Industrial

Agricultural

Recreational

Address of the property to be purchased:

Enter the address of the property to be purchased.

(e.g. 14 Witney Gate, Bagshot, Surrey GU195AY)

You should be able to obtain the legal land description of the property from the 14 Witney Gate, Bagshot, Surrey GU195AY. The legal land description of the property may also be found on the land title, in tax assessment information, and in the mortgage agreement.

Purchase Price

Purchase Price:

£

Deposit Amount:

£

Leave this field blank (zero) if no deposit is required.

Closing Date:

Possession Date:

Terms

The Property is subject to a lease or sublease.

Final agreement is subject to approval of financing.

Seller to perform repairs prior to closing.

Certain fixtures or assets are excluded.

Fixtures are items/chattels that are generally bound to the home and are not easily removable.

Additional Clauses

Do you want to include any additional instructions?

Yes

No

Frequently Asked Questions

When should I include an additional clause?Including additional clauses is entirely optional. If there is an issue which has not been addressed in any of the previous questions you may wish to deal with it here.How should I write my clause?Write using language that is simple and conveys ideas with the greatest possible clarity and avoids using legalese.

Legalistic Style		Plain English
at the present time		now
due to the fact that		because; since
during such time as		while
for the duration of		during
inasmuch as		because; since
in the event that		if
notwithstanding the fact that		although; even if
prior to		before
pursuant to		under; in accordance with
subsequent to		after
that certain		a
with reference to		about

Writing tipsDo not use several names or words to refer to the same person or thing as it could cause confusion and ambiguity by appearing to introduce new or different people or items.

Certain words are defined and capitalised in this Agreement. For example, a seller is called the "Seller". Use the same predefined terms in your additional clauses.

Do not use pronouns such as: they, us, we, our, you, or me. Pronouns may be ambiguous and can cause confusion. e.g.:

Wrong: If they are late with delivery, we will be entitled to a reasonable penalty as compensation.

Right: If the Seller is late with delivery, the Purchaser will be entitled to a reasonable penalty as compensation

More...Do not abbreviate words.

Use numerals, not words, to denote amounts.

Try not to repeat or contradict what has already been stated in the Operating Agreement.

Only put one paragraph per additional clause.

Order your additional clauses in a logical sequence.

Make sure your meaning is clear.

Spell-check your clause.

Signing Details

Execution Date:

TodayThis MonthUnsureSpecify Date

Frequently Asked Questions

Execution Date:The Execution Date is the date the letter will be signed by the parties.

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Type of Letter of Intent

Purchaser Info

Seller Info

Relationship Between Parties

Transaction Description

Purchase Price

Terms

Additional Clauses

Additional Clause

Signing Details