Property Settlement Agreement
/ˈprɒpərti ˈsɛtlmənt əˈɡriːmənt/
Definitions
- (n.) A legally binding contract between parties in a divorce or separation that outlines the division of property and financial assets.
The couple finalized their property settlement agreement before the divorce was granted.
- (n.) An agreement resolving disputes related to property ownership and financial responsibilities outside of formal divorce proceedings.
They signed a property settlement agreement to clarify ownership of the business assets.
Forms
- property settlement agreement
- property settlement agreements
Related terms
See also
Commentary
Such agreements are crucial in family law to avoid protracted litigation over assets; clearly defining terms and including all parties ensures enforceability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.