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Financial Agreement Divorce for United Arab Emirates

Financial Agreement Divorce Template for United Arab Emirates

A comprehensive legal document governed by UAE law that formalizes the financial arrangements between divorcing spouses. This agreement operates within the UAE's unique legal framework, which combines civil law and Sharia principles, and must comply with Federal Law No. 28 of 2005 (Personal Status Law). The document details the division of assets, ongoing financial obligations, property settlements, and any maintenance arrangements, while ensuring enforceability within the UAE jurisdiction and, where relevant, considering international asset implications.

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Financial Agreement Divorce

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What is a Financial Agreement Divorce?

The Financial Agreement Divorce is a crucial document used in the United Arab Emirates to formalize financial arrangements between divorcing spouses. It becomes necessary once a divorce is initiated or completed, serving as a comprehensive record of how assets will be divided and ongoing financial obligations will be met. The agreement must comply with UAE Federal Law No. 28 of 2005 and consider both civil law and Sharia principles where applicable. It typically includes detailed provisions for property division, maintenance payments, children's financial arrangements (if applicable), and the handling of joint assets and liabilities. The document is particularly important in the UAE context due to the jurisdiction's specific requirements regarding asset division and financial obligations post-divorce, especially considering the country's large expatriate population and frequent involvement of international assets.

What sections should be included in a Financial Agreement Divorce?

1. Parties: Identification of both parties, including full legal names, Emirates ID numbers, and current contact details

2. Background: Details of the marriage, divorce decree reference, and context for the financial settlement

3. Definitions: Definitions of key terms used throughout the agreement

4. Acknowledgment of Divorce: Reference to divorce decree and confirmation of parties' intention to settle financial matters

5. Financial Disclosure: Declaration of all assets, liabilities, and financial resources by both parties

6. Property Settlement: Details of how all property (both real estate and personal property) will be divided

7. Financial Obligations: Ongoing financial obligations including any maintenance payments

8. Release of Claims: Mutual release of future financial claims against each other

9. Tax Considerations: Treatment of tax liabilities and obligations

10. Enforcement: Provisions for enforcement of the agreement under UAE law

11. Governing Law: Confirmation of UAE law as governing law and jurisdiction

12. Execution: Signature requirements and execution formalities

What sections are optional to include in a Financial Agreement Divorce?

1. Children's Financial Arrangements: Required if there are children from the marriage, detailing education costs, maintenance, and other child-related expenses

2. International Assets: Required if either party has assets outside the UAE, including mechanism for handling overseas property

3. Business Interests: Required if either party has business interests that need to be addressed

4. Pension and Retirement Benefits: Required if there are pension or retirement benefits to be divided

5. Insurance Arrangements: Required if there are life, health, or other insurance policies to be addressed

6. Intellectual Property Rights: Required if either party has intellectual property rights to be divided

7. Future Inheritance: Optional section dealing with expected inheritances or family trusts

8. Debt Allocation: Required if there are joint debts to be allocated between parties

What schedules should be included in a Financial Agreement Divorce?

1. Schedule A - Asset Register: Comprehensive list of all assets owned by either party, including current valuations

2. Schedule B - Property Details: Detailed information about real estate properties including ownership documents

3. Schedule C - Payment Schedule: Timeline and details of any periodic payments or lump sum transfers

4. Schedule D - Business Valuations: Professional valuations of any business interests

5. Schedule E - Supporting Documents: List of all relevant supporting documents including bank statements, property deeds, and investment certificates

6. Appendix 1 - Divorce Decree: Copy of the divorce decree and any relevant court orders

7. Appendix 2 - Financial Disclosure Forms: Completed financial disclosure forms from both parties

8. Appendix 3 - Property Valuations: Independent valuations of significant assets

Authors

Alex Denne

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

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