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Nowadays, married couples who wish to separate will often opt for a friendly and voluntary separation agreement to make decisions regarding their children and property, rather than ending up in divorce court proceedings or having a court divide their rights and assets.
Such agreements should be formalised and their provisions incorporated into a formal separation agreement, which is also called a deed of separation.
However, according to Cyprus law, separation agreements do not constitute a substitute of court divorce orders. They can only be used as supporting evidence during custody procedures, or during matrimonial property and financial arrangements procedures before a court.
There are many issues that need to be considered when creating a separation agreement, and it is important that legal counsel explain:
- all aspects of a separation process;
- the matrimonial and family statutory rights and obligations;
- the way that such rights and obligations are being dealt with through a separation agreement compared to court proceedings; and
- the advantages and disadvantages of such settlement.
The information provided by A.G. Paphitis & Co. LLC is for general informational purposes only and should not be construed as professional or formal legal advice. You should not act or refrain from acting based on any information provided above without obtaining legal or other professional advice.
For further information please contact us.