What is a non-judicial settlement agreement?
A non-judicial settlement agreement (also known as an NISA) is a written agreement that two or more parties come to in an effort to settle a dispute out of court. This agreement is often used in inheritance law cases in California, as it is a cost-effective way of settling disputes without having to go through a lengthy court process. Under California law, when a decedent dies without a will, their assets typically must pass through the probate court. This process can be lengthy and can also incur expensive court costs. A non-judicial settlement agreement gives the parties involved the opportunity to pass the decedent’s assets outside of the probate court in order to save time and money. The agreement should include the names of the parties involved, the assets being settled, the terms of the agreement, and how the assets will be divided among the parties. It should also include a waiver of any rights to challenge the agreement in court. Once the agreement is signed and notarized, it is legally enforceable and cannot be challenged in court. In summary, non-judicial settlement agreements are a common and cost-effective method to settle inheritance disputes without having to go through the probate court process. They are a legally binding way to ensure all parties involved receive their just due.
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