AGREEMENT
This agreement is entered into as of [Insert Date, Month, and Year] by and between:
A. [Insert name of Party A], whose address for the purposes of this agreement shall
be [insert address] (hereinafter referred to as “[insert name]”)
-AND-
B. [Insert name of Party B], whose address for the purposes of this agreement shall
be [insert address] (hereinafter referred to as “[Insert name]”)
Party A and Party B are hereby individually referred to as “Party” and collectively
“Parties”. Party A and Party B hereby agree to negotiate and settle their agreement
under the following terms and conditions:
1. That Party A and Party B are currently in the process of separation and
ultimately, divorce and a split of marital assets.
2. Party A contends that he intends to invest in a house and that no marital assets
were used in the purchase of the house.
3. Therefore, the parties agree that during the divorce proceedings, the house so
obtained shall not be the subject matter of marital property splitting.
4. Party B submits that she has no rights to or marital interest in the house, and that
she does not expect it to be considered a marital asset during the divorce
proceedings.
5. This agreement shall be binding upon both parties to the agreement
6. This agreement shall be effective on the date hereof and shall continue
indefinitely until the expressly agreed upon date of its termination by mutual
agreement.
7. The parties shall use all reasonable endeavours to resolve any disputes arising
under the agreement amicably and in good faith. Should negotiations between
the parties fail, any disputes under this agreement shall be submitted to
mediation.
8. This agreement shall be privy to the signatories of the contract. No person who is
not a signatory to the contract shall enjoy benefits nor attract liabilities under the
contract.
9. The Parties agree that upon the signing of this agreement, that there are no
further claims between them of any nature whatsoever from any and all liability
or damages of any kind, known or unknown, in contract or in tort, related to this
agreement.
10. The Parties agree that the terms of this Agreement are the result of negotiations
between them and constitute a final accord and satisfaction concerning the
subject matter as discussed.
11. This Agreement shall be construed in accordance with the applicable laws in
Minnesota. Any dispute arising out of or in connection with this Agreement shall
be subject to the exclusive jurisdiction of the courts at Minnesota.
IN WITNESS WHEREOF, the Parties have executed this Settlement Agreement.
________________________________
PARTY B
[insert date]
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