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Assets Separation Agreement
"I need an Assets Separation Agreement under Austrian law for dissolving a family business partnership between three siblings, involving multiple properties in Vienna and Salzburg, a chain of restaurants, and shared investment portfolios, with implementation planned for March 2025."
1. Parties: Identification and details of the parties entering into the agreement
2. Background: Context of the agreement, including current status of relationship and reason for asset separation
3. Definitions: Key terms used throughout the agreement
4. Purpose and Scope: Clear statement of the agreement's purpose and what assets it covers
5. Effective Date: When the agreement takes effect and timeline for implementation
6. Division of Real Property: Detailed arrangements for division of real estate and associated rights
7. Division of Personal Property: Allocation of movable assets, furniture, vehicles, and personal belongings
8. Financial Assets: Division of bank accounts, investments, and other financial instruments
9. Debts and Liabilities: Allocation of existing debts and financial obligations
10. Implementation: Practical steps and timeline for implementing the asset division
11. Tax Provisions: Treatment of tax implications and responsibilities
12. Governing Law: Confirmation of Austrian law as governing law and jurisdiction
13. Dispute Resolution: Process for resolving any disputes arising from the agreement
14. Final Provisions: Miscellaneous legal provisions, including severability and amendment procedures
1. Business Interests: Section dealing with division of business assets and commercial interests, required when parties have shared business ownership
2. Intellectual Property: Provisions for division of intellectual property rights, needed when relevant IP assets exist
3. Pension and Insurance: Division of pension rights and insurance policies, included when such assets exist
4. Foreign Assets: Specific provisions for assets located outside Austria, required for international asset holdings
5. Future Acquisitions: Treatment of assets acquired after the agreement date but before final separation, included when relevant
6. Confidentiality: Provisions for maintaining confidentiality, included when dealing with sensitive business or personal information
7. Professional Practices: Specific provisions for professional practices or licenses, needed for professional service providers
1. Schedule A - Real Property Inventory: Detailed list of all real estate properties with ownership details and agreed disposition
2. Schedule B - Personal Property Inventory: Comprehensive list of significant personal property items and their allocation
3. Schedule C - Financial Assets Schedule: Detailed listing of all financial accounts, investments, and their agreed division
4. Schedule D - Debt Schedule: List of all debts and liabilities with allocation details
5. Schedule E - Valuation Reports: Professional valuations of significant assets
6. Schedule F - Implementation Timeline: Detailed timeline for executing the asset transfers
7. Appendix 1 - Property Documents: Copies of relevant property titles and registration documents
8. Appendix 2 - Financial Statements: Recent financial statements and account details
9. Appendix 3 - Tax Certificates: Relevant tax documentation and certificates
Authors
Legal Services
Real Estate
Financial Services
Professional Services
Banking
Insurance
Family Office Services
Wealth Management
Business Consulting
Property Management
Legal
Compliance
Finance
Tax Advisory
Wealth Management
Property Management
Corporate Affairs
Risk Management
Family Office
Business Advisory
Legal Counsel
Corporate Lawyer
Family Lawyer
Notary Public
Tax Advisor
Wealth Manager
Property Manager
Financial Advisor
Asset Manager
Business Consultant
Partnership Director
Family Office Manager
Compliance Officer
Real Estate Attorney
Estate Planner
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