The Divorce Decree Property Settlement Agreement is a crucial document in divorce proceedings under English and Welsh law, typically prepared after divorce proceedings have commenced but before the final decree is issued. It is used when divorcing couples need to formally document their agreement regarding the division of their matrimonial assets, including property, finances, and other valuable items. The agreement must comply with the Matrimonial Causes Act 1973 and recent reforms under the Divorce, Dissolution and Separation Act 2020. It serves as a comprehensive record of the parties' intentions and, once approved by the court, becomes legally binding and enforceable.
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1. Parties: Details of both parties to the agreement
2. Background: Marriage date, separation date, divorce proceedings status
3. Definitions: Key terms used throughout the agreement
4. Property Division: Division of matrimonial home and other real property
5. Financial Arrangements: Division of bank accounts, investments, and other assets
6. Mutual Release: Waiver of future claims against each other's estate
7. Governing Law: Confirmation of jurisdiction under English and Welsh law
1. Pension Arrangements: Details of pension sharing or attachment orders - include when either party has pension assets
2. Business Interests: Division of business assets and interests - include when either party owns business assets
3. Child Arrangements: Property considerations related to children - include when the couple has children under 18
4. Overseas Assets: Treatment of foreign property and assets - include when parties have assets in other jurisdictions
1. Schedule 1: Property Details: Full details of all properties including valuations
2. Schedule 2: Financial Assets: List of all bank accounts, investments, and their values
3. Schedule 3: Personal Property: Division of personal effects and household contents
4. Appendix A: Property Valuations: Professional valuations of real property
5. Appendix B: Pension Valuations: Cash equivalent transfer values for pensions
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