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Property Settlement Agreement

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After you complete the Joint Petition, attach the Worksheets to it. Next, prepare a "Property Settlement Agreement."

In a property settlement agreement, you and your spouse need to show who will get the assets and debts accumulated during your marriage. The worksheets should be an easy reference to help you make a fair agreement.

  • If there are no assets or debts to divide, you can go straight to filing the Petition.
    See next page.

How to Prepare Your Own Property Settlement Agreement:

A Property Settlement Agreement should contain at least five parts:  

  1. Preliminary Statement
    This part identifies the husband and wife, states that the marriage is being ended, and states that both husband and wife agree on the details of the agreement.
  2. Division of Community Property
    This part has two sections:

    • What the wife receives.
    • What the husband receives.
  3. Division of Community Debt
    This part has two sections:

    • The amount wife must pay, and to whom she must pay it.
    • The amount husband must pay, and to whom he must pay it.
  4. Waiver of Spousal Support
    This part states that each spouse gives up all rights of financial support
    from the other.
  5. Date and Signatures
    Both husband and wife are to sign the agreement and write the date.

To see an example of a Property Settlement Agreement, see the Summary Dissolution Information booklet (pg.14), click here. Opens new window If you wish, you may use it as a model for your own agreement.

Remember, you can divide the items any way you want. However, if you cannot agree about the division of your property and debts, you should file for a regular divorce.

 

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