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Simple English definitions for legal terms
marital settlement agreement
Read a random definition: O.S.
A quick definition of marital settlement agreement:
A marital settlement agreement is a written contract between two people who are getting divorced. It tells them what they need to do after they get divorced, like who will take care of the children and how they will share their money and property. Both people have to follow the agreement, and if one person doesn't, the other can ask a court to make them. The agreement can't be changed once it's signed, except for some things about money. If the agreement is really unfair or someone was forced to sign it, it might not be valid.
A more thorough explanation:
A marital settlement agreement is a written contract between two people who are getting a divorce. This agreement outlines their responsibilities and rights after the divorce is finalized. Once both parties sign the agreement, they are legally bound to it. If one person does not follow the agreement, the other can take legal action to enforce it.
The agreement can cover many different things, such as:
- Child custody
- Child visitation
- Child and spousal support
- Division of property and debts
For example, if a couple getting divorced has children, they might use a marital settlement agreement to decide who will have custody of the children and how much child support will be paid.
It's important to note that once the agreement is signed, it cannot be changed unless both parties agree to the changes. However, matters related to child support can be modified under certain circumstances, such as a significant change in income.
If the agreement is found to be unfair or the result of fraud or duress, it may be considered invalid by the court.
Overall, a marital settlement agreement is a way for divorcing couples to come to an agreement on important issues and avoid a lengthy court battle.