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Property Agreement Divorce Template for India

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Property Agreement Divorce

"I need a Property Agreement Divorce document that covers the division of our jointly-owned apartment in Mumbai and three bank accounts, with special attention to protecting my rights to my inherited jewelry collection and family trust assets."

Document background
A Property Agreement Divorce is a crucial document in Indian divorce proceedings that formalizes the division of assets and properties between separating spouses. This agreement is necessary when couples decide to divorce and need to legally document how their joint and individual properties will be distributed. The document must comply with multiple Indian legislations, including personal laws (such as the Hindu Marriage Act or Muslim Personal Law), the Transfer of Property Act, and relevant state laws. It typically requires registration under the Registration Act 1908 and appropriate stamp duty payment. The agreement covers all forms of property including real estate, financial assets, movable properties, and business interests, while also addressing related tax implications and future obligations. This document is often prepared in conjunction with divorce proceedings and may require court approval to be legally binding. It serves as a permanent record of the property settlement and helps prevent future disputes regarding asset division.
Suggested Sections

1. Parties: Details of both spouses including full names, addresses, and their legal representatives if any

2. Background: Brief history of marriage, decision to divorce, and context of property division

3. Definitions: Definitions of key terms used in the agreement including 'Property', 'Matrimonial Home', 'Separate Property', etc.

4. Division of Immovable Property: Detailed terms of division of real estate, including matrimonial home and other properties

5. Division of Movable Property: Distribution of vehicles, furniture, jewelry, artwork, and other movable assets

6. Financial Settlements: Division of bank accounts, investments, mutual funds, and other financial assets

7. Liabilities and Debts: Distribution and responsibility for existing loans, mortgages, and other debts

8. Tax Implications: Agreement on handling tax liabilities and benefits related to property transfer

9. Implementation Timeline: Schedule for executing property transfers and settlements

10. Dispute Resolution: Process for resolving any future disputes regarding property division

11. Governing Law: Specification of applicable Indian laws and jurisdiction

12. Execution: Signing and witnessing requirements

Optional Sections

1. Business Assets: Include when either party owns business interests that need to be divided

2. Intellectual Property Rights: Required when there are patents, copyrights, or other IP to be distributed

3. International Assets: Include when parties own property in other countries

4. Family Trust Provisions: Needed when family trust properties are involved

5. Agricultural Land: Include when agricultural land is involved, noting special regulations

6. Inheritance Expectations: Include when expected inheritances need to be addressed

7. Religious Property: Required when dealing with property with religious significance

8. Child-related Property: Include when specific properties are to be held in trust for children

Suggested Schedules

1. Schedule A - Immovable Property Details: Complete list of real estate with legal descriptions and ownership details

2. Schedule B - Movable Property Inventory: Detailed inventory of all movable assets with values

3. Schedule C - Financial Assets: List of all bank accounts, investments, and financial instruments

4. Schedule D - Outstanding Liabilities: Complete list of debts and liabilities with current balances

5. Schedule E - Valuation Reports: Professional valuations of significant assets

6. Appendix 1 - Property Documents: Copies of property titles, registration documents

7. Appendix 2 - Financial Statements: Recent bank statements and investment portfolios

8. Appendix 3 - Tax Records: Relevant tax returns and assessment orders

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Real Estate

Financial Services

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Mediation Services

Notary Services

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Real Estate

Property Management

Document Processing

Compliance

Family Law

Dispute Resolution

Client Services

Risk Management

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Divorce Lawyer

Family Law Attorney

Legal Counsel

Property Lawyer

Real Estate Attorney

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Court Registrar

Mediator

Property Valuation Expert

Financial Advisor

Estate Planning Attorney

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Legal Documentation Officer

Paralegal

Company Secretary

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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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