Property Settlement Agreement Not Married Template for England and Wales

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Key Requirements PROMPT example:

Property Settlement Agreement Not Married

"I need a Property Settlement Agreement Not Married for a house in London that I jointly own with my former partner, where I will buy out their 50% share for £300,000 by March 2025, and I need the agreement to include provisions about temporary occupation rights until the buyout is complete."

Document background
A Property Settlement Agreement Not Married is essential when unmarried individuals who share property rights in England and Wales need to formalize their separation of interests. This document becomes particularly relevant when cohabiting partners separate, when joint property investors wish to divide their interests, or when informal property sharing arrangements need to be formally concluded. The agreement covers crucial elements such as property valuation, ownership splits, financial settlements, and implementation timelines, all while adhering to relevant legislation including TOLATA 1996 and the Law of Property Act 1925.
Suggested Sections

1. Parties: Identification and details of all parties involved

2. Background: History of property ownership and relationship between parties

3. Definitions: Key terms used throughout the agreement

4. Property Details: Full description of property/properties involved

5. Ownership Declaration: Current and agreed future ownership proportions

6. Financial Settlement: Details of any payments between parties

7. Implementation: Timeframes and mechanisms for executing the agreement

8. Governing Law: Confirmation of applicable law and jurisdiction

Optional Sections

1. Mortgage Arrangements: Details of mortgage responsibilities when property has an existing mortgage

2. Maintenance Obligations: Ongoing property maintenance responsibilities when property will remain in shared ownership

3. Occupation Rights: Terms for continued occupation by either party when one party will remain in the property

4. Children's Provisions: Arrangements related to children's occupancy when minor children are involved

Suggested Schedules

1. Schedule 1: Property Details: Detailed property description including title numbers and registration details

2. Schedule 2: Financial Statement: Detailed breakdown of financial settlements and payments

3. Schedule 3: Implementation Timeline: Detailed timeline for executing all aspects of the agreement

4. Appendix A: Property Title Documents: Copies of relevant title documents

5. Appendix B: Valuation Reports: Professional property valuations

6. Appendix C: Mortgage Documents: Relevant mortgage 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

Relevant Industries
Relevant Teams
Relevant Roles
Industries

Trusts of Land and Appointment of Trustees Act 1996 (TOLATA): Primary legislation governing property ownership and rights between co-owners. Provides the fundamental framework for resolving disputes about property ownership and rights between parties who share interests in land.

Law of Property Act 1925: Foundational legislation that defines legal estates in land and establishes the fundamental rules for co-ownership of property in England and Wales.

Civil Partnership Act 2004: Legislation that may be relevant if the parties were in a civil partnership, as it affects property rights and financial arrangements between civil partners.

Limitation Act 1980: Sets out the statutory time limits for bringing different types of claims relating to property and other matters.

Resulting and Constructive Trusts: Common law principles that determine beneficial ownership of property where legal title doesn't reflect the true ownership intentions or contributions of the parties.

Proprietary Estoppel: Common law doctrine that protects a party who has relied on assurances about property rights to their detriment.

Contract Law Principles: Fundamental principles including offer, acceptance, consideration, and intention to create legal relations, essential for creating a valid agreement.

Land Registration Act 2002: Governs the registration of land in England and Wales and the recording of interests affecting registered land.

Family Law Act 1996: Relevant for determining occupation rights in property, particularly in cases of relationship breakdown.

Children Act 1989: Key legislation that may be relevant if children are involved in the property settlement, particularly regarding their living arrangements.

Contracts (Rights of Third Parties) Act 1999: Legislation governing how third parties may enforce terms of a contract, which could be relevant if the agreement affects others' rights.

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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