DIVORCE SETTLEMENT AGREEMENT

by | Feb 23, 2023 | Samples legal papers

DIVORCE SETTLEMENT  AGREEMENT

THIS AGREEMENT is made on the…………..day of……….20……., entered into by __________________________________hereinafter “husband” and ____________________________hereinafter “wife” (collectively referred to as the “Parties” or individually as the “Party”) and includes that party’s successors, assigns, heirs or personal representatives.

RECITALS:

  • The Parties were duly married on ___________________, in___________________________

and have ever since been and are now husband and wife.

  • No children have been born to the Parties and none are expected.
  • The Parties separated on or about ____________________________.
  • _______________________________has filed a domestic relations suit in_____________County, Court, Case No. _____________, which suit is now pending.
  • The Parties desire this Agreement to voluntarily and equitably settle all of the issues between them, including property division, responsibility for debts, and attorney fees and costs.

In consideration of covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt of which is hereby acknowledged, Parties agree to the following terms and conditions and to be bound thereby:

Personal Property

The Parties have divided between them, and to their mutual satisfaction, the personal effects, household furniture and furnishings, and all other articles, tangible and intangible, of personal property which heretofore had been used by them in common, and neither will make any claim for such articles which are now in the possession or control of the other.

Real Property

The car legally described as __________________________________________shall, be owned by Wife, free and clear of any claim of Husband.

Debts

The Party awarded an asset against which there are debts or encumbrances shall pay the same and hold the other Party harmless therefrom. Each party shall also pay all post-separation debts incurred by that Party and hold the other harmless therefrom. The debt on the Parties former house described as_________________________________________________shall be paid by the Parties in equal portion.

Prior Tax Liabilities

Any additional tax assessments, penalties, and interest to be paid on joint income tax returns filed by the parties in prior years shall be paid by the Parties equally.

Wife’s Former Name

Wife shall be restored her maiden name of ________________ and does hereby request any court considering this Agreement to order restoration of that name.

Attorney fees and costs

Each Party shall pay that Party’s own attorney fees and costs except as provided under the litigation and fees costs article below.

Litigation Fees and Costs

If any suit, action, or other proceeding or appeal from a decision therein is instituted to establish, obtain, or

enforce any right resulting from this Agreement; the prevailing Party shall be entitled to recover from the other Party, in addition to costs and disbursements, such additional sums as the court may adjudge reasonable as attorney fees, both in the trial and appellate courts, whether or not such right to attorney fees is established by statute

Incorporation into Decree

Each Party shall, at any hearing on any domestic relations suit between them, ask the court to approve, ratify and confirm this Agreement, to incorporate it in any Decree entered therein and to require each Party to comply with all the terms thereof.

Necessary documents and actions

Each Party shall execute and deliver to the other Party any documents and take such other actions, as reasonably may be necessary or convenient to accomplish the intentions of this instrument forthwith upon demand. Suppose either Party shall fail to comply with this paragraph. In that case, this Agreement shall constitute an actual grant, assignment, and conveyance of property or rights in such manner and with such force and effect as shall be necessary to effectuate the terms and intentions of this Agreement.

Release

Except as specifically provided herein, each Party releases the other from any and all claims or demands of whatsoever nature which either Party has or may claim to have against the other arising out of or in any way connected with their marriage to each other and its subsequent dissolution. 

Effective Date

This Agreement shall be binding upon the Parties immediately upon it being fully signed by both Parties.

Full Disclosure

The Parties have of their own volition entered into this Agreement upon mature consideration, and it is expressly based upon the premise that both Parties have made full disclosure of their assets and debts and that neither Party has any significant asset or debt except that which is described and distributed herein. Each Party hereby warrants to the other Party that they have not incurred any liability or obligation on which the other is or may be liable except as expressly set forth herein. A Party shall convey all information to the other Party in relation to this Agreement.

Acknowledgment

The Parties acknowledge that they have freely entered into this Agreement, having reviewed the Agreement and received legal advice. The parties understand that they are under no obligation to sign this Agreement at this or any other time and that they can take any extra time desired for additional consultation with independent legal counsel regarding the legality and effect of this Agreement.

GENERAL PROVISIONS

  • The provisions of this Agreement are severable.  If any provision is held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other provision. 
  • This Agreement constitutes the entire Agreement between the Parties. It supersedes all prior oral or written agreements or understandings between the Parties concerning the subject matter.
  • Either Party may request changes to this Agreement, but this Agreement may not be altered, amended, or modified, except by a written document signed by all Parties or by a Court Order.
  • Unless otherwise provided, failure by either Party to enforce any of the terms or conditions of this Agreement shall not be a waiver of their right to enforce the terms and conditions of this Agreement.
  • This Agreement may be executed in any number of counterparts, each of which shall be an original, and all of which shall together constitute the same instrument.
  • The Article and Section headings in this Agreement are for convenience, and they form in no part of this Agreement and shall not affect its interpretation.
  • The Parties will exercise utmost good faith in this Agreement.
  • If any ambiguity is found in the Agreement or various documents forming this Agreement, the Parties shall issue any necessary clarification or instruction.
  • All parties shall act in good faith under this Agreement

IN WITNESS WHEREOF, each of the Parties has executed this Agreement, as of the day and year set forth below.

Signed by the HUSBAND
Signature:
Name:
Date:………………………………………		 Signed by the WIFE
Signature :
Name:
Date:…………………………………………….……

State of California County of _____________________________) 

On _____________________ ____ before me, _________________________________________ (insert name and title of the officer) personally appeared ______________________________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ______________________________ (Seal)

State of California County of _____________________________) 

On _____________________ ____ before me, _________________________________________ (insert name and title of the officer) personally appeared ______________________________________________________________, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature ______________________________ (Seal)

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