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Assignment Of Beneficial Interest In Property
"I need an Assignment of Beneficial Interest in Property document to transfer my beneficial interest in a residential property in Geneva to my daughter, with the transfer to be completed by March 2025 and maintaining the existing trust structure."
1. Parties: Identification of the Assignor and Assignee, including full legal names, addresses, and any registration details for legal entities
2. Background: Context of the assignment, including details of the original beneficial interest and how it was created
3. Definitions: Key terms used throughout the agreement, including 'Property', 'Beneficial Interest', 'Effective Date', and other relevant terms
4. Subject Matter of Assignment: Clear description of the beneficial interest being assigned and the underlying property
5. Consideration: Details of the payment or other consideration for the assignment
6. Effective Date and Completion: When the assignment takes effect and any completion requirements
7. Assignor's Representations and Warranties: Confirmations regarding ownership, authority to assign, and absence of encumbrances
8. Tax Implications: Acknowledgment of tax consequences and responsibilities
9. Further Assurance: Commitment to execute additional documents if needed to effect the assignment
10. Notices: How and where formal communications between parties should be sent
11. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Conditions Precedent: Used when the assignment is subject to specific conditions being met before becoming effective
2. Regulatory Approvals: Required when the assignment needs specific regulatory clearances, especially under Lex Koller
3. Anti-Money Laundering Compliance: Additional provisions when required under Swiss AMLA regulations
4. Rights and Obligations: Detailed section needed when the beneficial interest comes with specific rights or obligations that need to be transferred
5. Third Party Consents: Required when the assignment needs approval from other parties
6. Security Provisions: Used when the assignment involves or requires security arrangements
7. Cantonal Requirements: Specific provisions required by particular cantons
1. Property Description: Detailed description of the underlying property, including address, land registry details, and any relevant plans
2. Original Beneficial Interest Documentation: Copies or details of the documents creating the original beneficial interest
3. Consideration Details: If complex, detailed breakdown of consideration and payment terms
4. Encumbrances: List of any existing encumbrances or restrictions on the beneficial interest
5. Required Consents: Copies of third-party or regulatory consents obtained
6. Tax Certificates: Any required tax clearance or certificates
7. Power of Attorney: If applicable, any power of attorney required for completion
Authors
Real Estate
Financial Services
Banking
Wealth Management
Investment Management
Legal Services
Property Development
Trust Services
Private Banking
Family Office Services
Legal
Real Estate
Compliance
Wealth Management
Property Management
Corporate Services
Private Client Services
Risk Management
Tax Advisory
Trust Administration
Legal Counsel
Property Manager
Trust Officer
Wealth Manager
Real Estate Attorney
Compliance Officer
Financial Advisor
Investment Manager
Corporate Lawyer
Private Client Advisor
Real Estate Portfolio Manager
Property Rights Specialist
Notary Public
Tax Advisor
Risk Manager
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