The Family Property Settlement Agreement serves as a crucial legal instrument in the UAE for documenting and implementing the division of assets between family members, most commonly in divorce situations. This document is essential in the UAE's legal framework, where property division must consider both civil law and Sharia principles, particularly under Federal Law No. 28 of 2005 and the recent Federal Decree-Law No. 41 of 2022 for non-Muslims. The agreement typically includes comprehensive details about real estate, personal property, financial assets, and debts, along with implementation mechanisms and dispute resolution procedures. It becomes especially important in cases involving significant assets, international property holdings, or complex financial arrangements. The document must be drafted with careful consideration of UAE property laws, personal status laws, and international legal implications where relevant.
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1. Parties: Identifies all parties to the agreement, including full legal names, Emirates ID numbers, and current addresses
2. Background: Outlines the context of the agreement, including marriage status, reason for settlement, and any relevant court orders or proceedings
3. Definitions: Defines key terms used throughout the agreement, including types of property, valuation dates, and other relevant terminology
4. Property Classification: Categorizes all property as either joint or separate, including pre-marriage assets and inherited property
5. Division of Real Estate: Details the division of all real estate properties, including primary residence, investment properties, and overseas properties
6. Division of Personal Property: Specifies the division of personal items, vehicles, furniture, and household items
7. Financial Assets: Covers division of bank accounts, investments, stocks, bonds, and retirement accounts
8. Debts and Liabilities: Addresses allocation of joint debts, mortgages, loans, and other financial obligations
9. Implementation: Sets out timeframes and procedures for implementing the property division
10. Tax Implications: Addresses any tax consequences of the property transfer and allocation of tax responsibilities
11. Dispute Resolution: Specifies procedures for resolving any disputes arising from the agreement
12. Governing Law: Confirms UAE law as governing law and specifies applicable jurisdictional details
13. Execution: Contains signature blocks and attestation requirements
1. Business Interests: Required when either party owns business interests or shares in companies that need to be divided
2. Intellectual Property Rights: Needed when dealing with patents, trademarks, or other intellectual property owned by either party
3. Foreign Assets: Required when parties own properties or assets in other countries
4. Islamic Law Compliance: Required for Muslim parties to ensure compliance with Sharia principles
5. Children's Property: Required when there are assets held in trust or designated for children
6. Future Asset Division: Needed when certain assets cannot be immediately divided or when future acquisitions need to be addressed
7. Confidentiality: Optional section for maintaining privacy of settlement terms
8. Insurance Policies: Required when dealing with life insurance, property insurance, or other insurance policies
1. Schedule A - Real Estate Properties: Detailed list of all real estate properties with legal descriptions and agreed values
2. Schedule B - Personal Property Inventory: Comprehensive list of personal property items and their allocation
3. Schedule C - Financial Assets: Detailed listing of all financial accounts, investments, and their current values
4. Schedule D - Debts and Liabilities: Complete list of all debts and payment responsibilities
5. Schedule E - Business Assets: Detailed valuation and division plan for business interests
6. Schedule F - Implementation Timeline: Specific dates and deadlines for property transfers and settlements
7. Appendix 1 - Property Valuations: Professional valuations of major assets
8. Appendix 2 - Required Legal Forms: Copies of necessary UAE property transfer forms and documents
9. Appendix 3 - Supporting Documents: Copies of relevant certificates, title deeds, and official documents
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