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Assets Separation Agreement
I need an Assets Separation Agreement to formalize the division of jointly owned properties in Dubai and Abu Dhabi between two business partners, including three commercial buildings and associated rental income, with the separation to be completed by March 2025.
1. Parties: Identification and details of all parties to the agreement
2. Background: Context of the agreement, including the relationship between parties and reason for asset separation
3. Definitions: Definitions of key terms used throughout the agreement
4. Purpose and Scope: Clear statement of the agreement's purpose and what assets/matters are covered
5. Effective Date: Specification of when the agreement takes effect
6. Division of Real Property: Detailed provisions for the division of real estate assets
7. Division of Personal Property: Provisions for division of movable assets and personal belongings
8. Division of Financial Assets: Provisions for division of bank accounts, investments, and other financial instruments
9. Business Interests: Division of any shared business interests or commercial assets
10. Debts and Liabilities: Allocation of responsibility for existing debts and liabilities
11. Tax Considerations: Provisions relating to tax implications of the asset division
12. Implementation: Process and timeline for implementing the asset division
13. Governing Law: Specification of UAE law as governing law and relevant jurisdictional matters
14. Dispute Resolution: Procedures for resolving any disputes arising from the agreement
15. Confidentiality: Provisions regarding confidentiality of the agreement and its terms
16. General Provisions: Standard contractual provisions including amendments, severability, and entire agreement
1. Mutual Release: Release of future claims, used when parties want to include a complete settlement of all matters
2. Foreign Assets: Required when parties have assets located outside the UAE
3. Islamic Law Compliance: Specific provisions ensuring compliance with Sharia law, if requested by the parties
4. Future Asset Discovery: Provisions dealing with assets discovered after the agreement is executed
5. Professional Valuations: Section incorporating professional valuations of complex assets
6. Digital Assets: Provisions for division of digital assets and cryptocurrencies
7. Intellectual Property Rights: Required when parties have shared intellectual property
8. Property Management: Temporary arrangements for managing shared properties pending sale or transfer
1. Schedule A - Real Property: Detailed list of all real estate assets with legal descriptions and agreed values
2. Schedule B - Personal Property: Inventory of personal property and belongings with agreed division
3. Schedule C - Financial Assets: List of all bank accounts, investments, and financial instruments
4. Schedule D - Business Interests: Details of business ownership and agreed division of business assets
5. Schedule E - Debts and Liabilities: Comprehensive list of all debts and liabilities with allocation
6. Schedule F - Implementation Timeline: Detailed timeline for implementing all aspects of the asset division
7. Appendix 1 - Property Valuations: Professional valuation reports for major assets
8. Appendix 2 - Title Documents: Copies of relevant title documents and ownership certificates
9. Appendix 3 - Corporate Documents: Relevant corporate documents for business interests
Authors
Assets
Business Day
Completion Date
Confidential Information
Consideration
Effective Date
Encumbrance
Financial Assets
Governing Law
Implementation Schedule
Intellectual Property Rights
Joint Assets
Liability
Market Value
Movable Property
Parties
Personal Property
Property Documents
Real Estate Assets
Registration Authority
Separate Property
Share
Transfer Date
Valuation Report
Recitals
Definitions
Asset Division
Property Transfer
Financial Settlement
Consideration
Implementation
Registration Requirements
Representations and Warranties
Valuation
Tax Obligations
Confidentiality
Release and Discharge
Further Assurance
Costs and Expenses
Notices
Assignment
Severability
Entire Agreement
Amendment
Force Majeure
Governing Law
Dispute Resolution
Execution
Legal Services
Real Estate
Financial Services
Banking
Professional Services
Wealth Management
Family Office Services
Corporate Services
Property Management
Asset Management
Legal
Corporate Affairs
Compliance
Real Estate
Asset Management
Wealth Management
Risk Management
Property Administration
Document Management
Business Development
Advisory Services
Legal Counsel
Corporate Lawyer
Property Lawyer
Wealth Manager
Asset Manager
Real Estate Manager
Family Office Manager
Corporate Secretary
Compliance Officer
Legal Director
Property Registration Officer
Financial Advisor
Business Development Manager
Risk Manager
Partnership Manager
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