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Enter the full legal name of this person as it would appear on a legal document.
Enter the full legal name of this person as it would appear on a legal document.
A Property Settlement Agreement (Marital Settlement Agreement) is the binding contract between divorcing spouses that divides marital property and debts, establishes spousal support (alimony) if agreed, and may address child custody and support arrangements. Once incorporated into a divorce decree by the court, it becomes a court order enforceable by contempt. This form addresses property division only — child custody matters should be addressed in a separate Parenting Plan. IMPORTANT: property settlement agreements in community property states have different default rules than equitable distribution states. Strongly recommend both parties have independent legal counsel before signing. Fill out this free property settlement agreement (divorce) template online, e-sign it digitally, and download a legally valid PDF. no account or lawyer needed. Sections: Spouses, Settlement Terms.
IMPORTANT: This Agreement involves significant legal and financial rights. Both parties are strongly advised to consult independent legal counsel before signing. This Agreement may be incorporated into a divorce decree and become a binding court order.
This Property Settlement Agreement (the "Agreement") is entered into by and between ______________, residing at ______________ ("Spouse 1"), and ______________, residing at ______________ ("Spouse 2") (collectively, the "Parties").
The Parties were married on ______________ and separated on ______________. Divorce proceedings are pending (or intended to be filed) in the applicable court. The Parties have reached an agreement regarding the division of their marital property and debts, which they desire to memorialize in this Agreement.
WHEREAS, the Parties desire to resolve all property division issues between them without protracted litigation; and WHEREAS, each Party has fully disclosed their assets and liabilities to the other, and has had an opportunity to review the financial information of the other; and WHEREAS, each Party enters this Agreement voluntarily, without duress or coercion, and upon the advice (or the opportunity to seek advice) of independent legal counsel;
NOW, THEREFORE, in consideration of the mutual promises and agreements herein, and intending to be legally bound, the Parties agree as follows:
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The Parties acknowledge that any division of tax-advantaged retirement accounts (401(k), 403(b), pension, IRA) may require additional court orders (such as a Qualified Domestic Relations Order/QDRO) to effectuate the transfer without tax penalties. Each Party shall cooperate in executing such orders.
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Each Party shall indemnify, defend, and hold harmless the other Party from any debts or obligations allocated to that Party under this Agreement, including any costs of collection or attorney's fees incurred by the other Party as a result of any failure to pay such debts.
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Except as set forth above, each Party expressly waives any right to receive spousal support, alimony, or maintenance from the other Party, past, present, or future.
The Parties' mutual release is limited to the terms set forth in this Agreement. Certain claims may be preserved as described above.
The Parties acknowledge that certain transfers of property pursuant to this Agreement may have tax consequences. Each Party is responsible for consulting their own tax advisor regarding the tax implications of this Agreement. Division of a primary residence may affect capital gains tax exclusions under IRC § 121. Division of retirement accounts may trigger income tax and penalties if not properly structured.
Each Party represents that they have fully and accurately disclosed all known assets, liabilities, income, and expenses to the other Party. Each Party acknowledges that this Agreement was made without fraud, duress, or material misrepresentation. If a material undisclosed asset is discovered after signing, the non-disclosing Party may be required to share such asset notwithstanding the terms of this Agreement.
The Parties intend that this Agreement shall be submitted to the court having jurisdiction over the divorce proceedings for approval and incorporation into the final divorce decree. This Agreement shall be enforceable as a contract between the Parties regardless of whether it is incorporated into a court order.
This Agreement shall be governed by and construed in accordance with the laws of the State of ______________, without regard to its conflict-of-laws principles.
EACH PARTY ACKNOWLEDGES THAT THEY HAVE READ AND FULLY UNDERSTAND THIS AGREEMENT, HAVE HAD THE OPPORTUNITY TO CONSULT WITH INDEPENDENT LEGAL COUNSEL, AND ARE SIGNING VOLUNTARILY.