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Separation Agreement For Unmarried Couples

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."

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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) @ 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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alex.den.21@genieai.co
Clauses
Interpretation
Definitions
Asset Division
Property Transfer
Financial Settlement
Business Interest Separation
Confidentiality
Non-Disclosure
Release and Discharge
Representations and Warranties
Tax Matters
Dispute Resolution
Governing Law
Force Majeure
Severability
Entire Agreement
Amendment
Notices
Costs and Expenses
Further Assurance
Assignment
Third Party Rights
Counterparts
Compliance with Laws
Non-Disparagement
Indemnification
Business Records
Intellectual Property Rights
Debt Allocation
Payment Terms
Relevant Industries

Legal Services

Real Estate

Financial Services

Business Consulting

Asset Management

Property Management

Professional Services

Corporate Services

Relevant Teams

Legal

Compliance

Risk Management

Corporate Affairs

Business Advisory

Document Management

Property Administration

Financial Advisory

Relevant Roles

Legal Counsel

Corporate Lawyer

Property Lawyer

Financial Advisor

Business Consultant

Compliance Officer

Risk Manager

Legal Document Specialist

Corporate Secretary

Business Affairs Manager

Asset Manager

Property Manager

Industries
Basic Law of Governance: The fundamental law of Saudi Arabia that establishes Sharia as the basis of the legal system, which does not recognize relationships outside of marriage
Civil Transactions Law: Governs property and financial dealings between parties, which might be relevant for division of jointly acquired assets (though joint acquisition by unmarried couples may face legal challenges)
Anti-Money Laundering Law: Relevant for documenting the legitimate source of any assets or funds being transferred between parties
Labor Law: May be relevant if one party employed the other in any business capacity that needs to be terminated
Commercial Law: Applicable if the parties have any joint business interests that need to be separated
Civil Procedure Law: Governs dispute resolution mechanisms, though enforcement of such agreements would be problematic given the nature of the relationship
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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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