What is a non-judicial settlement agreement?
A non-judicial settlement agreement in West Virginia is a type of agreement used to settle issues related to inheritance law. It is a contract between family members, such as siblings or parents, which legally binds them to a specific set of terms and conditions related to the division of assets. Non-judicial settlement agreements are typically used when the parties do not wish to go through the legal process of going to court and having a judge make a decision for them. This type of agreement features a mutual understanding between all involved parties and is usually based on compromises that each side is willing to make. Generally, these agreements are used in inheritance cases, wherein the deceased’s estate is divided upon death. In the agreement, family members agree to a specific division of assets, such as the distribution of real estate, stocks, or other forms of wealth and property. The agreement is signed by all parties and also attested to by lawyers and witnesses. Non-judicial settlement agreements are legally binding and are often a quicker and more efficient way of settling the issues related to inheritance law in West Virginia.
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