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Divorce Property Settlement Agreement

Divorce Property Settlement Agreement Template for United Arab Emirates

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Divorce Property Settlement Agreement

I need a Divorce Property Settlement Agreement for a UAE-based couple with significant business assets, including a family-owned restaurant chain and multiple investment properties in Dubai and Abu Dhabi, with the settlement to be completed by March 2025.

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Document background
The Divorce Property Settlement Agreement is a crucial document used in UAE divorce proceedings to formalize the division of assets between separating spouses. It must comply with UAE Federal Law No. 28 of 2005 (Personal Status Law) and various other relevant legislation, including emirate-specific property laws. This agreement is essential when divorcing couples need to divide significant assets such as real estate, business interests, investments, and personal property. It's particularly important in the UAE context due to specific regulations regarding property ownership by foreigners and the interplay between civil law and Sharia principles. The document serves as a comprehensive record of all agreed terms and can be used both by UAE nationals and expatriate residents, though different provisions may apply depending on the parties' religious and nationality status. The agreement becomes especially critical in high-net-worth divorces or cases involving complex asset structures, international properties, or business ownership.
Suggested Sections

1. Parties: Identification of both spouses, including full legal names, Emirates ID numbers, addresses, and nationalities

2. Background: Brief history of the marriage, date of marriage, jurisdiction confirmation, and statement of intention to divorce

3. Definitions: Definitions of key terms used throughout the agreement, including 'Matrimonial Property', 'Separate Property', etc.

4. Effective Date and Jurisdiction: Specification of when the agreement takes effect and confirmation of UAE court jurisdiction

5. Division of Real Property: Detailed arrangements for the division or transfer of real estate assets, including primary residence and investment properties

6. Division of Personal Property: Distribution of personal belongings, vehicles, furniture, and household items

7. Financial Assets: Division of bank accounts, investments, stocks, bonds, and other financial instruments

8. Debts and Liabilities: Allocation of responsibility for existing debts, mortgages, and other financial obligations

9. Business Interests: Treatment of any business ownership, shares, or professional practices

10. Implementation: Timeframes and procedures for implementing the property transfers and settlements

11. Tax Implications: Acknowledgment and handling of any tax consequences arising from the property settlement

12. Dispute Resolution: Process for resolving any disputes arising from the implementation of the agreement

13. Governing Law: Confirmation that UAE law governs the agreement and its interpretation

Optional Sections

1. Retirement Benefits: Division of pension rights and retirement accounts - include when parties have such benefits

2. Intellectual Property Rights: Distribution of intellectual property - include when either party owns patents, trademarks, or copyrights

3. International Assets: Handling of overseas properties and assets - include when parties have assets in multiple jurisdictions

4. Future Inheritance: Treatment of expected inheritances - include when significant inheritance is anticipated

5. Religious Requirements: Specific provisions aligned with religious requirements - include for Muslim couples requiring Sharia compliance

6. Digital Assets: Division of cryptocurrency, online accounts, and digital assets - include when parties have significant digital holdings

7. Pet Custody: Arrangements for family pets - include when pets are involved

8. Confidentiality: Privacy and non-disclosure provisions - include for high-net-worth individuals or public figures

Suggested Schedules

1. Schedule A - Real Estate: Detailed list of all real estate properties with legal descriptions and agreed dispositions

2. Schedule B - Personal Property: Comprehensive inventory of personal property items and their allocated recipient

3. Schedule C - Financial Accounts: List of all bank accounts, investment accounts, and their agreed division

4. Schedule D - Business Assets: Detailed description of business interests and their valuation

5. Schedule E - Debts and Liabilities: Complete list of all debts and their allocated responsibility

6. Schedule F - Implementation Timeline: Detailed timeline for executing all transfers and settlements

7. Appendix 1 - Property Valuations: Professional valuations of major assets

8. Appendix 2 - Supporting Documents: Copies of relevant title deeds, account statements, and other supporting documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Business Day
Commencement Date
Completion Date
Court
Decree of Divorce
Effective Date
Emirates ID
Financial Institution
Implementation Schedule
Joint Property
Liability
Marriage Certificate
Matrimonial Home
Matrimonial Property
Personal Property
Pre-marital Property
Property Registration Authority
Real Estate
Separate Property
Settlement Sum
Sharia Court
Spouse
Transfer Date
UAE Dirham
Valuation Date
Matrimonial Assets
Business Interests
Financial Assets
Investment Property
Bank Account
Share Certificate
Title Deed
Property Registration Certificate
Mortgage
Encumbrance
Professional Practice
Retirement Benefits
Implementation Plan
Disclosure Statement
Clauses
Interpretation
Definitions
Property Division
Real Estate Transfer
Financial Settlement
Asset Distribution
Debt Allocation
Implementation
Completion Requirements
Transfer Mechanics
Valuation
Disclosure
Registration Requirements
Bank Accounts
Business Interests
Investment Properties
Personal Effects
Vehicles
Documentation
Further Assurance
Cooperation
Confidentiality
Governing Law
Jurisdiction
Dispute Resolution
Notices
Amendment
Severability
Entire Agreement
Costs
Binding Effect
Compliance
Warranties
Enforcement
Property Registration
Release
Indemnification
Force Majeure
Termination
Third Party Rights
Relevant Industries

Legal Services

Real Estate

Financial Services

Professional Services

Banking

Property Management

Wealth Management

Insurance

Family Services

Public Sector

Relevant Teams

Legal

Family Law

Property Law

Compliance

Document Processing

Client Relations

Wealth Management

Real Estate

Translation Services

Court Liaison

Administrative Support

Relevant Roles

Family Law Attorney

Legal Consultant

Property Lawyer

Divorce Mediator

Financial Advisor

Property Valuer

Legal Secretary

Paralegal

Court Liaison Officer

Wealth Manager

Real Estate Agent

Bank Manager

Translation Officer

Compliance Officer

Legal Document Specialist

Industries
UAE Federal Law No. 28 of 2005 (Personal Status Law): The primary legislation governing marriage, divorce, and family matters in the UAE. It covers the legal framework for divorce proceedings, maintenance, and general principles of property division between spouses.
UAE Civil Code (Federal Law No. 5 of 1985): Contains general provisions regarding contracts, property ownership, and financial transactions that may affect property settlement agreements.
Law No. 7 of 2006 (Dubai Property Registration Law): Specific regulations regarding property registration and transfer in Dubai, which is crucial for implementing property settlements involving real estate in Dubai.
Federal Decree-Law No. 10 of 2019 on Protection from Domestic Violence: Relevant for cases where domestic violence may affect property settlement negotiations or arrangements.
UAE Federal Law No. 20 of 1991: Governs civil procedure aspects and enforcement of settlement agreements through UAE courts.
Law No. 27 of 2007 on Ownership of Jointly Owned Property in Dubai: Relevant for division of jointly owned properties in Dubai, particularly in common property developments.
Federal Decree-Law No. 33 of 2021 (UAE Labor Law): May be relevant for considerations of end-of-service benefits, pensions, and other employment-related assets in property settlements.
UAE Banking Law (Federal Law No. 14 of 2018): Relevant for handling joint bank accounts and financial assets during property settlement.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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