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Separation Of Assets Agreement

Separation Of Assets Agreement Template for Denmark

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Separation Of Assets Agreement

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Document background
The Separation Of Assets Agreement is a crucial legal document used in Denmark when spouses wish to establish separate property rights rather than following the default community property regime. This agreement is particularly relevant for individuals with significant pre-marriage assets, business owners, those expecting substantial inheritance, or in situations where clear separation of economic interests is desired. The document must comply with Danish legislation, including the Marriage Act and Property Relations Act, and requires proper registration in the personal registry. It typically includes detailed listings of assets, their valuations, and specific provisions for how both current and future assets will be treated. The agreement can be established either before or during marriage but must follow strict formal requirements to be legally valid.
Suggested Sections

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

2. Background: Context of the agreement, including marriage status (existing or intended) and general purpose of the agreement

3. Definitions: Definition of key terms used in the agreement, including different types of separate property being established

4. Scope of Agreement: Clear statement of which assets are to be treated as separate property and which remain as community property

5. Property Regime: Detailed description of how the separate property arrangement will work, including specification of whether it's complete separate property or a combination model

6. Future Assets: Treatment of assets acquired after the agreement takes effect, including inheritance, gifts, and earned income

7. Management Rights: Rights and limitations regarding management of separate property assets

8. Modification: Conditions and process for modifying the agreement in the future

9. Registration: Provisions regarding registration of the agreement in the personal registry

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

11. Execution: Formal requirements for signing, including witness requirements and notarization if required

Optional Sections

1. Business Assets: Specific provisions for treatment of business ownership and business assets, used when either spouse owns a business

2. International Assets: Special provisions for assets located outside Denmark, used when parties have significant foreign assets

3. Pension Rights: Specific treatment of pension rights and retirement savings, used when significant pension assets are involved

4. Debt Obligations: Specific provisions regarding existing or future debt, used when significant debt exists or is anticipated

5. Inheritance Implications: Detailed provisions about how the separate property regime affects inheritance rights, used when parties want to modify standard inheritance implications

6. Dissolution Provisions: Specific provisions for what happens in case of divorce or death, used when parties want to establish clear dissolution procedures

Suggested Schedules

1. Schedule A - Existing Assets: Detailed listing of current assets owned by each spouse that will be designated as separate property

2. Schedule B - Valuation Report: Independent valuation of significant assets included in the agreement

3. Schedule C - Business Assets: Detailed listing and description of business assets and ownership structures

4. Schedule D - Property Certificates: Copies of property ownership documents for real estate included in the agreement

5. Appendix 1 - Asset Documentation: Supporting documentation proving ownership of listed assets

6. Appendix 2 - Legal Certificates: Relevant legal certificates including marriage certificate and any previous property agreements

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