What is a property settlement agreement?

A property settlement agreement, also known as a separation agreement, is a contract that outlines the division of assets and liabilities after a couple divorces in Florida. The agreement must be signed by both parties to be valid. A property settlement agreement is legally binding, meaning both parties must follow the terms of the agreement and if one party does not, the other party can take them to court. The agreement addresses issues such as division of marital assets, such as real estate and investments; division of debts, such as mortgages and other loans; child custody and parenting plans; alimony; and other matters. The agreement should be as detailed as possible to reduce the chance of issues later on. It should also include provisions for how disputes will be handled, such as mediation, in case of disagreement. A property settlement agreement should be reviewed by attorneys for both parties to ensure that all terms are accurate and that the agreement is legally binding. Once the agreement is reviewed and signed by both parties, it should be filed with the court for final approval. Once the court approves it, the agreement becomes a binding contract that is enforceable by law.

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What is a property settlement agreement?

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