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Divorce Decree Property Settlement Agreement Template for Australia

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Key Requirements PROMPT example:

Divorce Decree Property Settlement Agreement

"I need a Divorce Decree Property Settlement Agreement that addresses the division of multiple business interests including a family company and overseas properties in Singapore and New Zealand, with specific provisions for protecting intellectual property rights and maintaining business continuity after the settlement."

Document background
The Divorce Decree Property Settlement Agreement is a crucial legal document used in Australian family law proceedings to formalize the division of assets and liabilities between divorcing parties. It is typically prepared after separation and can be executed either before or after divorce proceedings. The agreement must comply with the Family Law Act 1975 and should be drafted with professional legal advice to ensure enforceability. It covers all aspects of property division, including real estate, personal property, financial assets, superannuation, and debt allocation. This document becomes especially important as it provides certainty and finality to property matters, preventing future disputes and claims. The agreement must be properly executed and may require court approval to be legally binding.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including full legal names, addresses, and occupations

2. Background: Details of marriage, separation date, divorce status, and brief context of the settlement agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Recitals: Statements acknowledging legal advice, financial disclosure, and intention to be bound

5. Division of Assets: Detailed arrangements for division of matrimonial assets including real estate, vehicles, and personal property

6. Financial Obligations: Treatment of joint debts, loans, and ongoing financial responsibilities

7. Superannuation: Arrangements for splitting or maintaining superannuation interests

8. Mutual Release: Mutual release of future claims against each other's property

9. Implementation: Timeframes and practical steps for implementing the agreement

10. Costs: Allocation of legal costs and expenses related to the agreement

11. Governing Law: Specification that the agreement is governed by Australian law

12. Execution: Formal execution clauses and signing requirements

Optional Sections

1. Children's Matters: Include when there are children of the marriage - covers arrangements for children's expenses and property held for children's benefit

2. Business Interests: Include when either party has business interests that need to be addressed

3. International Assets: Include when parties have assets located outside Australia

4. Spousal Maintenance: Include when ongoing maintenance payments are part of the settlement

5. Tax Arrangements: Include when there are significant tax implications requiring specific arrangements

6. Future Inheritance: Include when there are expected inheritances that need to be addressed

7. Restraint Clauses: Include when there are business interests requiring protection post-separation

8. Life Insurance: Include when maintaining life insurance policies is part of the agreement

Suggested Schedules

1. Schedule A - Real Property: Detailed list of all real estate properties including addresses, titles, and agreed values

2. Schedule B - Personal Property: Itemized list of personal property items and their allocation

3. Schedule C - Financial Accounts: List of all bank accounts, investments, and their agreed distribution

4. Schedule D - Superannuation Interests: Details of superannuation accounts and splitting arrangements

5. Schedule E - Liabilities: Comprehensive list of debts and liabilities and their allocation

6. Schedule F - Business Assets: Details of business interests and their valuation

7. Appendix 1 - Financial Statements: Current financial statements of both parties

8. Appendix 2 - Valuations: Professional valuations of significant assets

9. Appendix 3 - Transfer Documents: Forms and documents required for implementing transfers

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Legal Services

Financial Services

Real Estate

Banking

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Family Services

Relevant Teams

Legal

Conveyancing

Property Services

Financial Advisory

Wealth Management

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Family Law

Dispute Resolution

Client Services

Risk & Compliance

Relevant Roles

Family Lawyer

Legal Counsel

Conveyancer

Financial Advisor

Wealth Manager

Property Manager

Bank Manager

Superannuation Consultant

Settlement Agent

Mediator

Court Registrar

Legal Secretary

Paralegal

Financial Planner

Estate Agent

Property Valuer

Industries








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