A property settlement agreement is the legal process
of equally dividing the assets and liabilities for both parties as a contract
between a married couple that sets out the terms of how they will move forward
in their lives, during separation and divorce. The property settlement agreement should clearly
state that neither party is permitted to file a divorce on fault grounds, the
party who leaves the marital residence is at risk of the other party proceeding
with a divorce on the fault ground of desertion or abandonment , the assets and liabilities may include shares,
mortgages, loans, credit cards, investments, trust entitlements, inheritances,
cash, furniture, white goods, jewelries, intellectual property, employment entitlements,
businesses, real estate, motor vehicles. If the other party
prevails, this could affect a judge’s ruling about property
and debt distribution. If a married or de facto couple separate, property
division and financial settlement might be achieved. The
Court divides property when the total of assets and
liabilities are assessed and recommended an amendment to the state constitution
to authorize pretrial detention for those found too dangerous for release and
to prevent defendants from being held in jail solely due to inability to post
bail.
Consideration of the financial and non-financial
contributions before, during or after the relationship will be determined. And
the current and future needs of each party are taken into consideration. Their
health and age, their income and earning capacity, their career
responsibilities, their financial resources are also included. Both
parties who have a signed Gold Coast property settlement agreement during their period of separation are
operating under a contract once those same parties are divorced, they are
operating under both a contract and the final order of divorce. if you are considering a
divorce, or are in the process of getting a divorce, you should know the
process of property settlement agreement which serves as a judgment in a
divorce case, this determines the distribution of the marital property between
the divorcing parties.
A property settlement
includes a division of the marital debts and assets, regarding personal property,
parties hereby agree that the property listed in this Section below shall be
solely, exclusively and independently owned by the party under which such
property is listed and at the same time, the
party should be responsible for debts indemnifies and holds the other harmless
from such debts fully. The Parties hereby acknowledge their mutual satisfaction
with the division of property you must keep in mind that the result of your
mutually agreeable solutions to your divorce related issues will be in the form
of an enforceable property settlement agreement which if written by a qualified
mediator should be clear, enforceable and detailed. You might as well start with
a settlement, so you focus on reaching solutions to your divorce disputes that
you both can live with before you engage in expensive and time-consuming
litigation then after all the litigation strategy, motions,
depositions, discovery
stated in Gold Coast property settlement agreement. Almost all divorcing
couples end up settling their case without a trial and the parties are living
apart from one another and both desire to set forth their agreement with
respect to their rights and obligations.
Comments
Post a Comment