What is a marital settlement agreement?

A marital settlement agreement (MSA) is a type of legal document used in divorce proceedings in Oklahoma. The MSA is also known as a separation agreement or a property settlement agreement and is usually prepared near the end of the divorce process. The purpose of an MSA is to serve as a written record for both parties of the divorce on how to divide their assets and debts. This agreement can also include how maintenance will be paid, if appropriate, and other matters like child custody, visitation, and support. The MSA is a legally binding document that outlines the responsibilities of both parties in the divorce. It is important to note that any agreement reached should be fair and reasonable for both parties. Before signing an MSA, both parties should have a thorough understanding of their rights and should meet with their respective legal advisors to obtain advice and legal counsel. Once the MSA is signed, it becomes a binding and enforceable contract and is considered the final legal agreement between the parties. It is very important that both parties keep a copy of the signed agreement and any other related documents because it is the only formal record of how the assets and debts have been divided. In Oklahoma, the final divorce decree must include references to the MSA. This ensures that both parties will be held to the terms of the MSA and all court orders associated with the divorce proceedings.

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What is a marital settlement agreement?

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