Sample Divorce Settlement Agreement New York
A divorce settlement agreement is a legal document that outlines the terms and conditions of a divorce. This agreement is often reached after both parties have negotiated and come to an agreement on issues such as property division, child custody, and support. In New York, a divorce settlement agreement is an important legal document that both parties must sign to finalize their divorce.
If you are going through a divorce in New York, it is essential that you have a solid understanding of what a divorce settlement agreement entails. This document is a legally binding contract between you and your former spouse, and it can have long-term implications for your financial situation and the well-being of your children.
To help you get started, we have provided a sample divorce settlement agreement for New York. Please note that this sample agreement is intended for informational purposes only and should not be used as a substitute for legal advice.
Sample Divorce Settlement Agreement for New York
This Agreement is made between [Husband`s Name] and [Wife`s Name], hereinafter referred to as the „Parties,“ on [Date of Agreement] with the intent to finalize the dissolution of their marriage.
1. Property Division
The Parties have agreed to divide their property as follows:
a. [Husband`s Name] shall retain ownership of the marital home located at [Address] and shall assume responsibility for the mortgage and all associated expenses.
b. [Wife`s Name] shall retain ownership of the vehicle with license plate number [License Plate Number].
c. The Parties shall sell their joint bank accounts and divide the proceeds evenly.
d. All other property owned jointly by the Parties shall be sold, with the proceeds equally divided.
2. Child Custody
The Parties have agreed to share joint legal custody of their minor children, [Child`s Name] and [Child`s Name]. The Parties have also agreed to a residential schedule, as follows:
a. [Child`s Name] shall reside with [Wife`s Name] on Mondays, Tuesdays, and Wednesdays of each week.
b. [Child`s Name] shall reside with [Husband`s Name] on Thursdays, Fridays, Saturdays, and Sundays of each week.
c. The Parties have also agreed to alternate holidays and school breaks.
3. Child Support
The Parties have agreed to the following child support arrangement:
a. [Husband`s Name] shall pay child support to [Wife`s Name] in the amount of $500 per month, beginning on [Date].
b. Child support payments shall continue until the minor children reach the age of 18, graduate from high school, or become emancipated, whichever occurs last.
4. Spousal Support
The Parties have agreed to the following spousal support arrangement:
a. [Husband`s Name] shall pay spousal support to [Wife`s Name] in the amount of $1,000 per month, beginning on [Date].
b. Spousal support payments shall continue for a period of three years, unless otherwise modified by the Parties or the court.
5. Legal Fees
Each Party shall be responsible for their own legal fees associated with the divorce.
6. General Provisions
a. This Agreement represents the entire understanding between the Parties and supersedes any prior or contemporaneous agreements, whether written or oral.
b. This Agreement shall be binding upon and inure to the benefit of the Parties, their heirs, successors, and assigns.
c. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.
IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.
[Husband`s Signature] [Wife`s Signature]
We hope this sample divorce settlement agreement for New York helps you better understand the key components of this legal document. As always, we recommend seeking the assistance of a qualified attorney to ensure that your rights and interests are protected throughout the divorce process.