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Binding Financial Agreement After Separation
"Need a Binding Financial Agreement After Separation for a couple with properties in both Mumbai and Dubai, including provisions for monthly maintenance payments and division of investment portfolios; agreement needs to be finalized before March 2025."
1. Parties: Identification and details of both parties to the agreement, including full legal names, addresses, and any other relevant identifying information
2. Background: Brief history of the relationship, date of marriage/separation, and context for the agreement
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Acknowledgments: Statements confirming both parties have received independent legal advice, understand their rights, and are entering the agreement voluntarily
5. Division of Property: Comprehensive listing and division of all matrimonial assets including real estate, vehicles, bank accounts, and personal property
6. Financial Obligations: Details of ongoing financial obligations including maintenance, debt responsibilities, and payment arrangements
7. Tax Considerations: Agreement on handling tax liabilities and benefits
8. Mutual Release: Provisions releasing each party from future claims against the other's property or estate
9. Governing Law: Specification that the agreement is governed by Indian law and relevant jurisdictional details
10. Dispute Resolution: Process for resolving any future disputes regarding the agreement
11. Amendment and Termination: Conditions and process for modifying or terminating the agreement
12. Execution: Formal signing and witnessing requirements
1. Religious Law Compliance: Section addressing specific religious law requirements, included when parties follow particular personal laws (e.g., Hindu Law or Muslim Law)
2. Business Interests: Detailed provisions for handling business assets and interests, included when either party owns business assets
3. Intellectual Property Rights: Provisions for dividing intellectual property rights, included when relevant to either party
4. Future Inheritance: Provisions regarding future inheritance expectations, included when significant inheritance is anticipated
5. Children's Education Fund: Provisions for children's future education expenses, included when parties have children
6. International Assets: Specific provisions for handling international assets, included when parties have overseas properties or investments
7. Family Heirlooms: Special provisions for family heirlooms or items of sentimental value, included when relevant
8. Insurance Policies: Provisions regarding life, health, or other insurance policies, included when significant insurance policies exist
1. Schedule A - Asset Register: Comprehensive list of all assets owned by both parties, including current valuations
2. Schedule B - Liability Register: List of all debts and liabilities of both parties
3. Schedule C - Property Details: Detailed information about real estate properties including titles and valuations
4. Schedule D - Business Valuations: Professional valuations of any business interests
5. Schedule E - Investment Portfolio: Details of investments, shares, and securities
6. Schedule F - Personal Effects: Itemized list of personal effects and their agreed distribution
7. Appendix 1 - Independent Legal Advice Certificates: Certificates from lawyers confirming independent legal advice was received
8. Appendix 2 - Financial Disclosure Statements: Sworn statements of full financial disclosure from both parties
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