A Property Settlement Agreement Not Married is essential when unmarried individuals who share property rights in England and Wales need to formalize their separation of interests. This document becomes particularly relevant when cohabiting partners separate, when joint property investors wish to divide their interests, or when informal property sharing arrangements need to be formally concluded. The agreement covers crucial elements such as property valuation, ownership splits, financial settlements, and implementation timelines, all while adhering to relevant legislation including TOLATA 1996 and the Law of Property Act 1925.
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1. Parties: Identification and details of all parties involved
2. Background: History of property ownership and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Property Details: Full description of property/properties involved
5. Ownership Declaration: Current and agreed future ownership proportions
6. Financial Settlement: Details of any payments between parties
7. Implementation: Timeframes and mechanisms for executing the agreement
8. Governing Law: Confirmation of applicable law and jurisdiction
1. Mortgage Arrangements: Details of mortgage responsibilities when property has an existing mortgage
2. Maintenance Obligations: Ongoing property maintenance responsibilities when property will remain in shared ownership
3. Occupation Rights: Terms for continued occupation by either party when one party will remain in the property
4. Children's Provisions: Arrangements related to children's occupancy when minor children are involved
1. Schedule 1: Property Details: Detailed property description including title numbers and registration details
2. Schedule 2: Financial Statement: Detailed breakdown of financial settlements and payments
3. Schedule 3: Implementation Timeline: Detailed timeline for executing all aspects of the agreement
4. Appendix A: Property Title Documents: Copies of relevant title documents
5. Appendix B: Valuation Reports: Professional property valuations
6. Appendix C: Mortgage Documents: Relevant mortgage documentation
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