What is a Property Settlement Agreement?
(A) A Property Settlement Agreement (PSA) is a contract between the divorcing parties. The PSA can serve as a mutual, contractual settlement of issues relating to the divorce and can be enforced by the court. Of course, skillful legal representation is essential to successfully negotiating a PSA that protects a party’s rights.
A Property Settlement Agreement is a comprehensive, written document which spells out the agreements between you and your spouse on all issues related to your divorce, including the division of property and debt, custody and parenting issues, support, transfer of title of real estate and vehicles and the rights of each spouse to pension and savings plans.
A Property Settlement Agreement or “PSA” is a written agreement between the parties which settles property, custody, visitation and support issues. When the PSA is affirmed, ratified and incorporated into the final decree of divorce it is enforceable as an order of the court. The PSA may address all issues or only a portion of the issues and leave the rest for the court to decide.
A property settlement agreement is a written contract between the parties listing and dividing the marital property and financial obligations. It also may be used in settling custody, child support and spousal support in accordance with the wishes of the parties. A property settlement agreement reached before a trial is subject to a judge’s approval.
A. A Property Settlement Agreement is a written contract between the parties that settles the rights and responsibilities of each party concerning the issues of child custody, visitation, support, property, etc. Both spouses must be in agreement with the provisions of the Property Settlement Agreement. These agreements are encouraged because they allow the parties to control how their issues are decided instead of leaving it to a Judge to decide.
