Simple English definitions for legal terms
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An integrated property settlement is a legal agreement that decides how a couple's property and debts will be divided when they get divorced. This agreement can be part of a divorce decree and includes everything the couple owns together. It is also called a property settlement agreement or a marital agreement.
An integrated property settlement is a legal agreement that divides the assets and debts of divorcing spouses. It can be either a court judgment or a contract that is incorporated into a divorce decree. The purpose of the settlement is to determine the distribution of the marital property between the divorcing parties.
Both examples illustrate the definition of an integrated property settlement because they involve the division of assets and debts between divorcing spouses. In the first example, John and Jane come to an agreement on their own, while in the second example, the judge makes the decision for them. In both cases, the settlement is incorporated into the divorce decree, making it legally binding.