MARITAL FINANCIAL AGREEMENT
This Agreement is made between XXX (hereinafter referred to as the “Husband”) and XXX (hereinafter referred to as the “Wife”) together referred to as “parties.”
WHEREAS the parties herein were married on ____________________ at ______________________ and ever since, have been and are husband and wife; and,
WHEREAS the parties herein separated on ____________________ for reasons of irreconcilable differences which have led to the irremediable breakdown of the marriage with no possibility of reconciliation;
THERFORE, the parties have herein agreed to be legally bound by the following terms.
The purpose of this Agreement is to have a complete and final settlement of all rights and obligations between the parties in regards to all the financials.
Both parties herein have given full disclosure of their respective financial status and shared/exchanged current income and expense declaration.
- Acknowledgement.
The parties herein have entered into this agreement knowingly, voluntarily and with legal advice from their respective attorney.
The following are the present properties; –
- 2515 Poppy Drive, Burlingame, Ca 94010
- 160 Tip Toe Lane, Burlingame, Ca 94010
- 762 Chateau Drive, Hillsborough, Ca 94010
- 101 Bella Vista Drive, Hillsborough, Ca 94010
- 374 Valley Street, San Francisco, Ca 94131
The husband herein agrees to take full financial responsibility for investing on the above mentioned joint properties that were obtained after the marriage. Che Ping Tam invested 2.5 Million in the above mentioned properties.
The husband agrees to pay back the wife the principal of 2.5 Million and share profit at 50% when the properties are sold.
It is agreed that the wife shall not be responsible for any loss or debts if any, after the sale of the properties since she has never been involved in the husband’s business decision making and business operation.
All of the losses and debts will go to the husband if the sale of the properties is net loss.
- Release of Liabilities and Claims.
Parties herein agree to release each other from all inter-spousal obligations, whether incurred before or after the effective date of this agreement as parties have considered such claims in this agreement.
- Governing Law.
The terms and performance of this Agreement shall be governed by the applicable Laws of the State of California.
- Effective Date.
Subject to this agreement presiding the Court, it shall be merged with and incorporated into and made part of any subsequent divorce decree.
Suppose any provision of this Agreement is deemed to be invalid or unenforceable. In that case, it shall be severed from this Agreement and shall not affect the other Agreement provisions, which shall remain valid and enforceable.
- Entire Agreement.
This agreement contains the entire agreement of the parties on these matters,
superseding any previous agreement between them.
IN AGREEMENT THEREOF, the parties have hereto signed this Agreement on the date indicated herein below; –
| Executed by Yang Min Yang; –
Signature: __________________________ Date: ______________________________ |
Executed by Che Ping Tam; –
Signature: __________________________ Date: ______________________________ |
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