Divorce Property Division Agreement

Divorce Property Division Agreement Template for Denmark

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Document background

The Divorce Property Division Agreement is a crucial legal document used in Danish divorce proceedings to formalize the division of assets and liabilities between separating spouses. This agreement is particularly important in Denmark, where the legal framework emphasizes mutual agreement and fair division of matrimonial property. The document is drafted in accordance with Danish matrimonial property law, specifically the Danish Marriage Act (Ægteskabsloven) and the Act on the Legal Effects of Marriage (Retsvirkningsloven). It becomes necessary when spouses have decided to divorce and need to document their agreed-upon division of joint and separate property, including real estate, financial assets, pensions, and personal property. The agreement serves as both a legally binding document and a practical roadmap for implementing the property division, often used in conjunction with the formal divorce proceedings in Danish courts or administrative authorities.

Suggested Sections

1. Parties: Identification of both spouses including full names, addresses, and CPR numbers (Danish personal identification numbers)

2. Background: Brief history of the marriage, date of separation, and confirmation that both parties seek divorce by mutual consent

3. Definitions: Definitions of key terms used throughout the agreement including 'matrimonial property', 'separate property', and other relevant terms

4. Property Division Principles: General principles governing the division of property, including reference to relevant Danish legislation

5. Division of Real Estate: Detailed arrangements for the division or transfer of any real estate owned jointly or separately

6. Division of Financial Assets: Agreement on division of bank accounts, investments, securities, and other financial assets

7. Division of Personal Property: Division of household items, vehicles, and other personal belongings

8. Pension Rights: Agreement on the division of pension rights and retirement benefits

9. Debt Allocation: Distribution of joint and individual debts between the parties

10. Tax Implications: Acknowledgment of tax consequences and agreement on handling tax liabilities

11. Implementation: Timeframes and practical arrangements for implementing the property division

12. Governing Law: Confirmation that the agreement is governed by Danish law

13. Signatures: Execution section including date and signatures of both parties

Optional Sections

1. Business Interests: Division of business assets and arrangements for business interests owned by either party

2. Inheritance and Gifts: Treatment of inherited assets or gifts received during marriage that may be classified as separate property

3. International Assets: Special provisions for assets located outside Denmark

4. Intellectual Property Rights: Division of intellectual property rights owned by either party

5. Future Claims: Waiver of future claims against each other's property

6. Mediation Clause: Agreement to use mediation for future disputes before court proceedings

7. Legal Costs: Agreement on how legal costs related to the divorce and property division will be shared

Suggested Schedules

1. Schedule A - Real Estate Inventory: Detailed list of all real estate properties including valuations and proposed disposition

2. Schedule B - Financial Assets: Comprehensive list of all financial assets including account numbers and current values

3. Schedule C - Personal Property Inventory: Detailed inventory of personal property and agreed distribution

4. Schedule D - Pension Details: List of all pension schemes and agreed division arrangements

5. Schedule E - Debt Schedule: Complete list of all debts and liabilities with agreed allocation

6. Appendix 1 - Property Valuations: Professional valuations of significant assets

7. Appendix 2 - Financial Statements: Recent bank statements, investment accounts, and other financial documentation

8. Appendix 3 - Legal Titles: Copies of property titles, vehicle registrations, and other ownership documents

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