Division of Property Agreement
Division of property on separation or divorce: assets, home, debt, pension and equalisation.
Jurisdiction: Denmark. Written for Danish law and Danish contract practice.
What is a division of property agreement?
Division of property on separation or divorce: assets, home, debt, pension and equalisation.
What the document must contain
- The parties with registration numbers and contact persons.
- The service or right supplied, described as precisely as possible.
- Prices, payment terms and any indexation.
- Term, termination and the consequences of expiry.
- Liability, limitation of liability and breach.
- Confidentiality, intellectual property, governing law and venue.
Frequently asked questions
What does a division of property agreement cover?
It sets out what is delivered, at what price, on what terms, and what happens if something goes wrong or the cooperation ends.
How long should the agreement run?
Match the term to the investment in the relationship and agree a notice period. Without an agreed term, such contracts can usually be terminated at reasonable notice.
Who owns what is created?
Rights follow the agreement. If the customer is to own the deliverable, the assignment must be explicit; otherwise the supplier keeps copyright and grants a licence only.
Are liquidated damages enforceable?
Yes, if the amount is proportionate to the breach. Excessive penalty clauses can be reduced or set aside under section 36 of the Danish Contracts Act.
Do we also need a data processing agreement?
Yes, if the supplier processes personal data for the customer. That is a separate requirement in GDPR article 28 and a confidentiality clause is not a substitute.
Guide for this template
The template comes with a step-by-step guide explaining every field and what to watch out for before signing.
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