The Divorce Property Settlement Agreement is a crucial document used when spouses in Singapore have reached consensus on how to divide their matrimonial assets during divorce proceedings. It must align with the Women's Charter and Singapore's divorce laws, which emphasize fair and equitable distribution based on both direct and indirect contributions to the marriage. The agreement typically includes detailed provisions for the division of property, financial assets, CPF accounts, and personal belongings, while considering factors such as the length of marriage, financial and non-financial contributions, and the welfare of any children. This document serves as a formal record of the agreed terms and can be submitted to the court for approval as part of the divorce process.
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1. Parties: Identification and details of both parties to the agreement
2. Background: Brief history of marriage, separation, and current divorce proceedings
3. Definitions: Key terms used tHRoughout the agreement including definition of matrimonial assets under Women's Charter
4. Division of Real Property: Details of how real estate will be divided or disposed of, including HDB considerations
5. Division of Financial Assets: Distribution of bank accounts, investments, and CPF accounts
6. Division of Personal Property: Distribution of vehicles, furniture, jewelry, and other personal items
7. Treatment of Debts: Allocation of responsibility for existing debts and liabilities
8. Implementation: Timeframes and procedures for implementing the agreement
9. Governing Law: Specification that Singapore law governs the agreement with reference to Women's Charter
1. Business Interests: Division of business assets and interests when either party owns business interests
2. Overseas Assets: Treatment of assets located outside Singapore when parties have foreign assets
3. Future Income: Treatment of future bonuses, stock options, or other deferred compensation when significant future income is anticipated
4. Tax Provisions: Special arrangements regarding tax liabilities when complex tax implications exist
1. Schedule 1 - Real Property: Detailed list and valuation of all real estate
2. Schedule 2 - Financial Assets: Comprehensive list of bank accounts, investments, and CPF accounts
3. Schedule 3 - Personal Property: Inventory of significant personal property items
4. Schedule 4 - Outstanding Debts: List of all debts and liabilities
5. Appendix A - Valuation Reports: Professional valuations of significant assets
6. Appendix B - Property Documents: Relevant property titles and documentation
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