Divorce Property Settlement Agreement for Malta

Divorce Property Settlement Agreement Template for Malta

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Divorce Property Settlement Agreement

"I need a Divorce Property Settlement Agreement that specifically addresses the division of my technology startup company valued at €2.5 million, along with our shared Malta property, ensuring my ex-spouse receives fair compensation while I retain full control of the business operations."

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What is a Divorce Property Settlement Agreement?

The Divorce Property Settlement Agreement is a crucial document in Maltese divorce proceedings, introduced following the legalization of divorce in Malta in 2011. This agreement is used when divorcing couples need to formally document the division of their matrimonial assets, property, and financial obligations. It must comply with the Malta Civil Code Chapter 16 and related legislation, including EU regulations where applicable. The document covers all aspects of property division, from real estate and personal property to financial assets and liabilities, and can include provisions for businesses, investments, and pension rights. It's particularly important in Malta's legal context, where the community of acquests regime is the default matrimonial property system unless otherwise specified by the spouses through a pre-nuptial agreement.

What sections should be included in a Divorce Property Settlement Agreement?

1. Parties: Identification of both spouses including full legal names, addresses, and occupation

2. Background: Brief history of the marriage, including date of marriage, separation if applicable, and current status

3. Definitions: Key terms used throughout the agreement including property classifications, matrimonial home, separate property, etc.

4. Division of Matrimonial Property: Detailed arrangements for division of community of acquests or other matrimonial property regime

5. Matrimonial Home: Specific provisions regarding the former matrimonial home, including sale or transfer arrangements

6. Financial Obligations: Details of any ongoing financial obligations, settlements, or maintenance payments

7. Tax Matters: Provisions regarding tax implications of property transfers and arrangements for tax compliance

8. Implementation: Timeframes and procedures for implementing the property division

9. Dispute Resolution: Procedures for resolving any disputes arising from the agreement

10. Governing Law: Confirmation that the agreement is governed by Maltese law

11. Execution: Signature requirements and attestation provisions

What sections are optional to include in a Divorce Property Settlement Agreement?

1. Business Interests: Required when either party owns business interests that need to be divided or addressed

2. Pension and Retirement Benefits: Needed when there are pension or retirement benefits to be divided

3. Overseas Property: Required when the parties own property outside of Malta

4. Inheritance and Gifts: Needed when addressing property acquired through inheritance or gifts during marriage

5. Debt Allocation: Required when there are significant debts to be allocated between parties

6. Future Asset Discovery: Optional provisions for dealing with assets discovered after the agreement

7. Confidentiality: Optional provisions for maintaining privacy of settlement terms

8. Insurance Policies: Required when dealing with life, health, or property insurance policies

What schedules should be included in a Divorce Property Settlement Agreement?

1. Schedule A - Real Property: Detailed list of all real estate properties and their agreed disposition

2. Schedule B - Personal Property: Inventory of personal property items and their allocation

3. Schedule C - Financial Accounts: List of all bank accounts, investments, and their division

4. Schedule D - Vehicles: List of all vehicles and their allocation

5. Schedule E - Debts and Liabilities: Comprehensive list of all debts and their allocation

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

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

8. Appendix 3 - Property Documents: Copies of property titles and relevant 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

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