Assets Separation Agreement Template for Belgium

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Key Requirements PROMPT example:

Assets Separation Agreement

"I need a Belgian Assets Separation Agreement to divide a property portfolio consisting of three residential properties and two commercial properties in Brussels, with specific provisions for managing ongoing rental income and maintenance responsibilities, to be effective from March 1, 2025."

Document background
The Assets Separation Agreement is a crucial legal instrument in Belgian civil law used to formalize the division of property and assets between parties, most commonly in the context of marriage or domestic partnership arrangements. This document becomes particularly relevant when parties wish to establish clear boundaries regarding property ownership, whether in preparation for marriage, during marriage, or as part of separation proceedings. The agreement must comply with Belgian Civil Code requirements, particularly Articles 1387-1474 governing matrimonial property regimes, and should address all categories of assets including real estate, financial instruments, personal property, and business interests. Proper execution often requires notarial intervention and may need registration with relevant Belgian authorities. The agreement's importance lies in its ability to provide legal certainty and prevent future disputes regarding asset ownership and division.
Suggested Sections

1. Parties: Identification and details of both parties to the agreement

2. Background: Context of the agreement, including current marital status and reason for asset separation

3. Definitions: Definitions of key terms used throughout the agreement

4. Purpose and Scope: Clear statement of the agreement's purpose and its scope in terms of assets covered

5. Effective Date: Specification of when the agreement takes effect

6. Division of Real Property: Detailed arrangements for the division of real estate and property rights

7. Division of Financial Assets: Distribution of bank accounts, investments, and other financial instruments

8. Division of Personal Property: Allocation of personal belongings, vehicles, and household items

9. Debts and Liabilities: Assignment of responsibility for existing debts and financial obligations

10. Tax Provisions: Arrangements for tax obligations and responsibilities

11. Future Rights and Obligations: Statement regarding future property rights and mutual obligations

12. Registration and Formalities: Requirements for official registration and legal formalities

13. Governing Law: Confirmation of Belgian law as governing law and relevant jurisdictional provisions

14. Execution: Signature requirements and execution formalities

Optional Sections

1. Business Interests: Section dealing with division of business assets and commercial interests, required when parties have shared business holdings

2. Intellectual Property Rights: Provisions for dividing intellectual property assets, needed when such assets exist

3. Pension and Retirement Accounts: Arrangements for pension rights and retirement savings, included when applicable

4. International Assets: Specific provisions for assets located outside Belgium, required for international property holdings

5. Future Inheritance Rights: Provisions regarding future inheritance rights, particularly relevant for complex family situations

6. Dispute Resolution: Alternative dispute resolution mechanisms, recommended for high-value or complex separations

7. Confidentiality: Confidentiality provisions, particularly important for high-profile individuals or business owners

Suggested Schedules

1. Schedule A - Real Property Inventory: Detailed list of all real estate properties with their current valuations

2. Schedule B - Financial Assets Inventory: Comprehensive list of all financial assets including account details

3. Schedule C - Personal Property Inventory: Itemized list of personal property and agreed distributions

4. Schedule D - Debt Schedule: List of all debts and liabilities with assigned responsibilities

5. Schedule E - Business Assets: Detailed inventory of business interests and their agreed division

6. Appendix 1 - Property Valuations: Professional valuations of major assets

7. Appendix 2 - Tax Certificates: Relevant tax documentation and certificates

8. Appendix 3 - Property Documents: Copies of property deeds, titles, and registration documents

Authors

Alex Denne

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

Relevant legal definitions
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