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Marital Property Settlement Agreement
"I need a Marital Property Settlement Agreement that covers the division of multiple real estate properties in Manila and Cebu, including a family business, with specific provisions for the continued operation of the business after property division, to be executed by March 2025."
1. Parties: Identification and details of both spouses entering into the agreement
2. Background: Information about the marriage, current status, and reason for the property settlement
3. Definitions: Definitions of key terms used throughout the agreement
4. Acknowledgment of Disclosure: Confirmation that both parties have made full disclosure of all assets and liabilities
5. Division of Community Property: Detailed allocation of conjugal or community property between spouses
6. Confirmation of Separate Property: Declaration and confirmation of separate properties owned by each spouse
7. Treatment of Debts and Liabilities: Division and responsibility for existing debts and liabilities
8. Tax Provisions: Arrangements for tax liabilities and responsibilities
9. Implementation: Process and timeline for implementing the property division
10. Further Assurance: Commitment to execute additional documents necessary to implement the agreement
11. Governing Law: Specification that Philippine law governs the agreement
12. Execution: Formal signing and witnessing requirements
1. Business Interests: Section dealing with division or management of shared business interests, used when spouses own businesses together
2. Overseas Properties: Special provisions for properties located outside the Philippines, included when foreign assets exist
3. Pension and Retirement Benefits: Division of retirement accounts and pension benefits, included when applicable
4. Intellectual Property Rights: Division of intellectual property assets, included when parties own IP rights
5. Future Dispute Resolution: Mechanisms for resolving future disputes, optional but recommended
6. Confidentiality: Provisions for maintaining privacy of agreement terms, included when parties desire confidentiality
7. Insurance Policies: Provisions regarding life, health, or property insurance policies, included when applicable
1. Schedule A - Real Property: Detailed list and description of all real property being divided
2. Schedule B - Personal Property: Inventory of personal property and their agreed distribution
3. Schedule C - Bank Accounts: List of all bank accounts and their disposition
4. Schedule D - Vehicles: Details of all vehicles and their allocation
5. Schedule E - Investments: List of investments, securities, and their division
6. Schedule F - Outstanding Debts: Comprehensive list of all debts and liabilities
7. Appendix 1 - Property Valuations: Professional valuations of significant assets
8. Appendix 2 - Supporting Documents: Copies of relevant certificates, titles, and registration documents
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