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Settlement Agreement Property

This section of your PPE defines the distribution and distribution of all marital property. In the event of divorce, the term “property” covers all assets: real estate, cars, bank accounts, investment accounts, stocks and bonds, businesses, antiques and collectibles, furniture, works of art, tools, etc. This section also clarifies all goods classified separately by the parties (e.g. B non-conjugal). In Virginia, separate ownership is not divisible by the court, but the parties may decide otherwise. This section also explains how the parties` debts are managed during separation and after divorce. Virginia law states that most real estate and debts acquired should be considered separate property (outside marriage). Judges are not allowed to transfer separated property to the other spouse. It is therefore generally preferable for the parties to specify what they have with regard to their property and debts at the time of separation.

In order to avoid often confusing and sometimes very painful situations, the parties are well advised when they have chosen to divorce, to account for their assets and debts with values and balances. The parties should also be aware that, although it is forbidden for the courts to share and distribute separate assets. Parties are free to do whatever they want. Our unique approach to negotiating real estate agreements is based on creating a respectful environment that will allow you and your spouse to make a fair agreement that is adapted to your life. We welcome the growing recognition we have received for our successes in this area. As of 2015, Smith Strong, PLC has received four times as many positive reviews as any other family firm in Central Virginia on a neutral, independent third-party site. In addition, founder Van Smith was recently awarded as Super Lawyers Rising Star for 2014. We can help you design, negotiate and verify a real estate transaction agreement that makes your divorce as painless as possible. Some settlement agreements include all of these aspects of marriage dissolution.

However, the following example is the nature of the agreement that can be used if the parties are able to resolve their property disputes, but not the children`s or financial assistance issues that are reserved for the process. Whether the agreement is complete and covers all divorce matters or only a few of the issues, it can be included in the divorce decree, thus becoming a legally binding part of the final judgment. The property portion of a divorce settlement should contain explicit instructions on how those assets will be distributed among the parties to the divorce. Real estate division opportunities include: We offer a range of financial contract services that meet your needs and budget, without compromising on the service you have received, all produced by our highly qualified family law lawyers. In the absence of a signed and notarized PPE clearly stating that neither party can file for divorce on the grounds of fault, the other party may first benefit from a guilty divorce due to desertion/abandonment. If the other party wins, it could technically influence a judge`s decision regarding the allocation of property and debt. While most Northern Virginia judges don`t put much importance on this terrain, attorneys will present evidence of this desertion and abandonment when distributing and allocating property, as that`s what the law prescribes. .

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