A Property Agreement Divorce is essential when married couples in Singapore decide to separate their shared assets during divorce proceedings. This document forms a crucial part of the divorce settlement, detailing how matrimonial properties will be divided, including considerations for CPF contributions, outstanding mortgages, and any rental income. The agreement must comply with Singapore's Women's Charter and related property laws, ensuring fair distribution based on both direct and indirect contributions of each party. It typically includes comprehensive property inventories, valuation reports, and specific implementation timelines. The document serves as a binding agreement that can be enforced tHRough Singapore courts and relevant government agencies.
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1. Parties: Identification of both parties including full legal names and addresses
2. Background: Details of marriage, divorce proceedings, and reason for property division
3. Definitions: Key terms used in the agreement including definition of matrimonial assets
4. Property Details: Complete list and description of all properties subject to division
5. Division Terms: Specific terms of how properties will be divided or transferred
6. Financial Settlement: Details of any monetary settlements or payments between parties
7. Implementation: Timeline and process for implementing the property division
1. CPF Arrangements: Details of CPF division and arrangements for properties purchased using CPF funds
2. Mortgage Arrangements: Details of existing mortgages and responsibility for payments
3. Rental Income: Division of rental income from investment properties
4. Tax Provisions: Arrangements for tax liabilities and benefits related to property transfers
1. Schedule 1: Property Inventory: Detailed list of all properties with legal descriptions and titles
2. Schedule 2: Valuation Reports: Professional valuations of properties
3. Schedule 3: Outstanding Mortgages: Details of all mortgage accounts and balances
4. Appendix A: Property Documents: Copies of property titles, deeds, and registration documents
5. Appendix B: CPF Statements: Statements showing CPF usage for property purchases
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