A Property Separation Agreement is essential when married couples in Singapore decide to separate their assets, whether as part of divorce proceedings or as a staNDAlone arrangement. This document, governed by Singapore law including the Women's Charter and Property Law Act, provides a comprehensive framework for dividing matrimonial assets, including real estate, personal property, financial accounts, and CPF funds. The agreement helps prevent future disputes by clearly documenting each party's rights and obligations regarding property division, ensuring compliance with Singapore's legal requirements for asset separation.
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1. Parties: Identification and details of both spouses entering into the agreement
2. Background: Context of the separation and brief history of the marriage and property acquisition
3. Definitions: Key terms used tHRoughout the agreement including definitions of Matrimonial Property, Separate Property, and other relevant terms
4. Division of Real Property: Detailed arrangements for division of real estate assets, including primary residence and any investment properties
5. Division of Personal Property: Arrangements for division of personal belongings and chattels, including vehicles, furniture, and personal effects
6. Financial Arrangements: Division of bank accounts, investments, insurance policies, and other financial assets
7. CPF Arrangements: Treatment of CPF accounts and CPF-funded properties, including refund requirements and transfer arrangements
1. Debt Allocation: Division of outstanding debts and liabilities, including mortgages, personal loans, and credit card debts
2. Business Interests: Division of business assets, shares, and intellectual property rights
3. Future Asset Discovery: Provisions for handling subsequently discovered assets and procedure for their division
4. Tax Provisions: Allocation of tax liabilities and benefits, including property tax and income tax considerations
1. Schedule A - Real Property Details: Detailed list and description of all real estate properties, including addresses, title details, and agreed disposition
2. Schedule B - Personal Property Inventory: Comprehensive list of personal property items and their agreed allocation between parties
3. Schedule C - Financial Assets: List of all financial accounts, investments, insurance policies, and their agreed division
4. Schedule D - CPF Account Details: Details of CPF accounts, including account numbers and agreed arrangements for division
5. Appendix 1 - Property Valuations: Professional valuations of significant assets including real estate and business interests
6. Appendix 2 - Supporting Documents: Copies of relevant certificates, titles, account statements, and other supporting documentation
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