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Separation Agreement For Unmarried Couples Template for Saudi Arabia

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Key Requirements PROMPT example:

Separation Agreement For Unmarried Couples

"I need a Separation Agreement For Unmarried Couples to dissolve a joint business venture in Riyadh, including the division of a trading company and settlement of shared commercial property, with completion targeted for March 2025."

Document background
The Separation Agreement For Unmarried Couples is a specialized legal instrument designed for use in Saudi Arabia, where relationships outside of marriage are not legally recognized. This document focuses exclusively on resolving legitimate business and property matters between two individuals, carefully structured to comply with Saudi law and Sharia principles. It is typically used when two parties need to formally separate their business interests, shared assets, or financial obligations in a legally compliant manner. The agreement covers aspects such as asset division, business interest separation, financial settlements, and ongoing obligations, while carefully avoiding any implications that might conflict with local laws and customs. All provisions must be drafted in accordance with Saudi Arabian legal requirements and should be reviewed by local legal counsel to ensure enforceability.
Suggested Sections

1. Parties: Identification of the two individuals entering into the agreement, using neutral terminology

2. Background: Neutral statement of facts regarding shared business interests, properties, or financial matters that need to be resolved

3. Definitions: Key terms used throughout the agreement, focusing on business and property-related terminology

4. Purpose of Agreement: Statement of intent to resolve outstanding financial and property matters between the parties

5. Asset Division: Details of how jointly held or disputed assets will be divided

6. Financial Settlement: Any one-time or ongoing financial arrangements between the parties

7. Confidentiality: Obligations of both parties to maintain confidentiality about the agreement and its terms

8. Release of Claims: Mutual release of future claims relating to matters covered in the agreement

9. Dispute Resolution: Process for resolving any future disputes about the agreement terms

10. Governing Law: Specification of Saudi law as governing law and acknowledgment of Sharia principles

Optional Sections

1. Business Interests: Required if parties have shared business interests that need to be separated

2. Intellectual Property: Required if there are any shared intellectual property rights to be divided

3. Real Estate: Required if there is jointly held or disputed real estate to be addressed

4. Debt Division: Required if there are shared debts or financial obligations to be allocated

5. Non-Disparagement: Optional clause to prevent parties from making negative statements about each other

6. Tax Matters: Required if there are tax implications from the asset division that need to be addressed

7. Third Party Rights: Required if the agreement affects any third party interests or obligations

Suggested Schedules

1. Schedule of Assets: Detailed listing of all assets to be divided under the agreement

2. Schedule of Financial Obligations: List of all financial obligations and their agreed allocation

3. Schedule of Business Interests: Details of any business interests and their agreed division

4. Property Transfer Documents: Forms and documents required for transferring property ownership

5. Payment Schedule: Timeline and terms for any financial settlements agreed between parties

Authors

Alex Denne

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

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Relevant Industries

Legal Services

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Professional Services

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Relevant Teams

Legal

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Relevant Roles

Legal Counsel

Corporate Lawyer

Property Lawyer

Financial Advisor

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Corporate Secretary

Business Affairs Manager

Asset Manager

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Industries






Teams

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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