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Property Separation Agreement
"I need a Property Separation Agreement under Philippine law to divide our conjugal assets consisting of one residential property in Manila, two vehicles, and joint bank accounts, with completion targeted for March 2025."
1. Parties: Identification and details of both spouses entering into the agreement
2. Background: Brief history of the marriage, current status, and reasons for property separation
3. Definitions: Definitions of key terms used throughout the agreement
4. Purpose of Agreement: Clear statement of the intention to separate properties and govern future property relations
5. Effective Date: Specification of when the agreement takes effect
6. Declaration of Separate Properties: Statement declaring the separation of properties and termination of any conjugal property regime
7. Division of Real Properties: Detailed allocation of real estate properties between the parties
8. Division of Personal Properties: Distribution of personal properties, vehicles, furniture, and other movable assets
9. Division of Financial Assets: Allocation of bank accounts, investments, and other financial instruments
10. Division of Debts and Liabilities: Assignment of responsibility for existing debts and financial obligations
11. Future Income and Assets: Statement regarding the separate nature of future earnings and acquired properties
12. Tax Provisions: Arrangements for handling tax obligations and implications
13. Implementation: Procedures and timeline for implementing the property division
14. Governing Law: Specification that the agreement is governed by Philippine law
15. Dispute Resolution: Process for resolving any disputes arising from the agreement
16. Severability: Clause ensuring remainder of agreement stays valid if any part is found unenforceable
17. Execution: Formal signing requirements and notarization provisions
1. Business Interests: Section dealing with division of business ownership and interests, used when parties have shared business assets
2. Intellectual Property Rights: Division of intellectual property assets, used when parties have shared IP rights
3. Overseas Properties: Provisions for properties located outside the Philippines, used when foreign assets exist
4. Pension and Retirement Benefits: Division of retirement accounts and pension benefits, used when such benefits exist
5. Insurance Policies: Allocation of insurance policies and benefits, used when shared policies exist
6. Future Support Obligations: Provisions for ongoing financial support, used when parties agree to post-separation support
7. Confidentiality: Provisions for maintaining privacy of agreement terms, used when parties want confidentiality
8. Modification Procedure: Process for future modifications to the agreement, used when parties want flexibility for changes
1. Schedule A - Real Property Inventory: Detailed list of all real properties with legal descriptions and current market values
2. Schedule B - Personal Property Inventory: Comprehensive list of personal properties with descriptions and values
3. Schedule C - Financial Assets: List of all bank accounts, investments, and other financial instruments
4. Schedule D - Debt Schedule: Detailed list of all debts and liabilities with current balances
5. Schedule E - Business Assets: Inventory of business interests and their agreed valuations
6. Appendix 1 - Property Valuations: Professional appraisals and valuations of major assets
7. Appendix 2 - Title Documents: Copies of property titles and registration documents
8. Appendix 3 - Financial Statements: Relevant financial statements and documentation
9. Appendix 4 - Tax Documents: Relevant tax returns and documentation
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