What is a stipulation of settlement?

A stipulation of settlement is an agreement that outlines how two parties involved in a divorce, separation, or other legal dispute have decided to address their issues. In North Carolina, a stipulation of settlement is a document drafted or agreed to by both parties in a divorce action that states the terms and conditions of a divorce. It covers the basic issues, such as the division of assets, alimony, child custody, and child support, and it may also include other issues relevant to the marriage. The stipulation of settlement is binding, meaning that once it is signed by both parties, they are legally obligated to abide by the terms of the agreement. In North Carolina, a stipulation of settlement is typically filed with the court in order to be legally enforceable. It is important to note that a stipulation of settlement is not necessarily the same as a separation agreement, though the two documents may be similar. A separation agreement, while often used in North Carolina, is not legally binding and does not carry the same weight or enforceability of a stipulation of settlement.

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