WAIVER and QUITCLAIM

KNOW ALL MEN BY THESE PRESENTS:

This Waiver and Quitclaim
__________________________2014, by;

is

made

and

executed

this

_______day

of

________________________________, of legal age, Filipino and a resident

of_____________________________________, hereinafter shall be referred to as the FIRST
PARTY;
-

In favor of

_____________________________________________), a banking corporation duly

organized in accordance with the laws of the Philippines with principal office at
___________________________________________, Nueva Ecija, hereinafter shall be referred to
as the SECOND PARTY.
WITNESSETH,
That the FIRST PARTY are the compulsory heirs of the deceased
___________________________ who died intestate on ________________________ at
___________________________. That ______________________________ died leaving a savings
deposit with the SECOND PARTY at its __________________________- Branch, under
savings account no. ___________________ with the amount of ___________________________;
That as a rules and policy of the SECOND PARTY under the laws of the Republic
of the Philippines, a savings account with a depositor who dies leaving without any will
whatsoever, the compulsory heirs shall be required to file a petition in court for extrajudicial partition of estate of the said deceased. However, the FIRST PARTY as the
compulsory heir of the deceased depositor wishes to excuse themselves from complying
the said requirements of the bank and considering that the amount of deposit left by
the deceased is not more than the amount of ____________________ (Php_____.00).
That in consideration for request of the FIRST PARTY with respect to the noncompliance with the requirements given by the SECOND PARTY for the FIRST PARTY
in order to release the remaining deposit amount of the deceased, the FIRST PARTY
now WAIVES and QUITCLAIMS the following stipulations provisions:
That the FIRST PARTY hereby guarantee to the SECOND PARTY to relinquish,
discharge and waive all possible claims of whatever nature, expected, real or apparent,
which the FIRST PARTY or any other persons might have against the SECOND PARTY
- ________________________________________________, its duly authorized representatives,
directors, officers, employees, agents and clients for the consideration of the request for
the release of the amount left on the savings account of ___________________________ in
favor of the FIRST PARTY;
That also, the FIRST PARTY shall free the SECOND PARTY and/or all of its
directors, officers, authorized representatives, agents, successor-in-interest from any
liability either civil, criminal and administratively that could arise from any claims to
above-mentioned release or withdrawal of the above-mentioned amount, either directly
or incidental thereto.
That the FIRST PARTY hereby declares that he have read this document and
have fully understood its contents, and further declare that they voluntarily and willingly
executed this Waiver and Quitclaim with full knowledge of their rights under the law.
That if any provisions and stipulation of this Waiver and Quitclaim shall be
deemed void by operation of law, the remaining provisions and stipulations shall not be
affected and shall remain in full force and in effect.
IN WITNESS WHEREOF, the parties have hereunto set their hand this _____ day
of _________________________ 2014 at __________________________.

FIRST PARTY

SECOND PARTY

____________________________
____________________________

________________________

.
(A Rural Bank)

Witnessed by:
_______________________

ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES )
________________________________) S.S.
x - - - - - - - - - - - - - - - - - - - - - - - - - - -x
BEFORE ME, on this ________day of _____________________________2014 at place
above mentioned, personally appeared:
NAME

GOVERNMENT ISSUED I.D.

PLACE / DATE ISSUED

________________________________________________________________________________________
Known to me and to me known to be the same persons who executed the
foregoing instrument and acknowledged to me that the same is their own free and
voluntary act and deed as well as that of the corporation they represented.
This instrument, consisting of Two (2) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the concerned parties and their witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND NOTARIAL SEAL on __________day
____________________________2014 at the ______________________________.
NOTARY PUBLIC
Doc. No.____;
Page No.____;
Book No.____;
Series of 2014

of