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Assets Separation Agreement Template for Austria

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Key Requirements PROMPT example:

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."

Document background
The Assets Separation Agreement serves as a crucial legal instrument under Austrian law for parties seeking to formally divide and separate their shared assets. This document is typically employed in various scenarios, including business partnership dissolutions, family wealth divisions, or marriage separations. The agreement must comply with the Austrian Civil Code (ABGB) and related regulations, particularly concerning property rights, transfer requirements, and tax implications. It provides a detailed framework for identifying, valuing, and allocating various types of assets, including real estate, financial investments, business interests, and personal property. The document also addresses practical implementation aspects, such as timeline for transfers, responsibility for associated costs, and mechanisms for dispute resolution. Given the complexity of Austrian property and tax laws, this agreement often requires input from legal professionals, tax advisors, and asset valuators to ensure comprehensive coverage and legal compliance.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Relevant legal definitions




































Clauses





























Relevant Industries

Legal Services

Real Estate

Financial Services

Professional Services

Banking

Insurance

Family Office Services

Wealth Management

Business Consulting

Property Management

Relevant Teams

Legal

Compliance

Finance

Tax Advisory

Wealth Management

Property Management

Corporate Affairs

Risk Management

Family Office

Business Advisory

Relevant Roles

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

Industries







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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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