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Separation Of Assets Agreement

Separation Of Assets Agreement Template for Indonesia

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Separation Of Assets Agreement

"I need a Separation of Assets Agreement under Indonesian law for my upcoming marriage in March 2025, with special provisions for my existing technology startup company and international investments in Singapore."

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Document background
The Separation of Assets Agreement is a crucial legal document in Indonesia used to establish clear boundaries between the property and financial interests of married or soon-to-be-married couples. It serves as a protective measure for individuals with significant personal or business assets, those entering second marriages, or entrepreneurs seeking to shield their business interests from marital property claims. The agreement must comply with Indonesian Marriage Law (UU No. 1/1974), the Civil Code (KUHPerdata), and for Muslim couples, the Compilation of Islamic Law. It requires proper notarization and registration with civil authorities to be legally binding. The document typically includes comprehensive inventories of current assets, provisions for future acquisitions, debt responsibilities, and specific arrangements for business interests or inherited property.
Suggested Sections

1. Parties: Identification of both spouses, including full legal names, addresses, and other relevant personal details

2. Background: Context of the agreement, including marriage status or intention to marry, and the general purpose of the separation of assets

3. Definitions: Clear definitions of key terms used throughout the agreement, including 'separate property', 'joint property', 'income', etc.

4. Scope of Agreement: Overall purpose and extent of the separation of assets arrangement

5. Separate Property Declaration: Clear statement of which assets belong to each party individually

6. Future Acquisitions: Rules governing ownership of assets acquired after the agreement takes effect

7. Income and Earnings: Treatment of income, wages, and business profits earned during the marriage

8. Debts and Liabilities: Allocation of existing and future debts and financial responsibilities

9. Management of Properties: Rights and responsibilities regarding the management of separate properties

10. Taxes: Handling of tax obligations and responsibilities

11. Dispute Resolution: Procedures for resolving any disagreements about the agreement or property matters

12. Amendment and Termination: Conditions and procedures for modifying or ending the agreement

13. Governing Law: Specification of Indonesian law as governing law and relevant jurisdictional matters

14. Execution: Formal signing requirements and notarization provisions

Optional Sections

1. Business Ownership: Specific provisions for handling business interests, to be included when either party owns or may establish a business

2. Inheritance Expectations: Provisions regarding expected inheritances, to be included when significant inheritance is anticipated

3. International Assets: Special provisions for assets located outside Indonesia, needed when parties have foreign properties

4. Intellectual Property Rights: Provisions for handling intellectual property, needed when either party has or expects to have IP assets

5. Religious Law Compliance: Additional provisions ensuring compliance with Islamic law, required for Muslim couples

6. Children's Property: Provisions regarding property held in trust for children, needed when there are children from previous marriages

7. Joint Ventures: Provisions for handling joint business ventures between spouses, needed when parties plan to or already conduct business together

Suggested Schedules

1. Schedule A - Current Assets Inventory: Detailed list of all current assets owned by each party, including property descriptions and valuations

2. Schedule B - Pre-existing Debts: Comprehensive list of all debts and liabilities of each party at the time of agreement

3. Schedule C - Business Assets: Detailed inventory of business assets and interests owned by either party

4. Schedule D - Property Documents: Copies of property titles, registration documents, and other proof of ownership

5. Schedule E - Valuation Reports: Professional valuations of significant assets like real estate or businesses

6. Appendix 1 - Asset Documentation: Photographs, certificates, and other supporting documents proving ownership and condition of listed assets

7. Appendix 2 - Legal Certificates: Copies of marriage certificate, identification documents, and other relevant legal 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

alex.den.21@genieai.co
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