System and method for allocating memory resources are disclosed. The system utilizes a bus system coupled to a plurality of requestors and a plurality of memory systems coupled to the bus system. Each memory system includes a memory component and a memory management module including a value that represents access rights to the memory component. The memory management module is configured to receive an access request from a first requestor of the plurality of requestors and to grant access to the memory component only if the value indicates that the first requestor has access rights to the memory component. The memory management module is configurable to change the value to give the access rights to the memory component to a second requestor of the plurality of requestors.