Deed of Divorce Settlement
Deed of Divorce Settlement
This Deed of Divorce Settlement is made and entered into on this 5th day of September 2060, by and between:
[Your Name], hereinafter referred to as "Husband," whose address is 123 Elm Street, Springfield, and
Jane Doe, hereinafter referred to as "Wife," whose address is 456 Oak Avenue, Springfield.
WHEREAS, the parties were lawfully married on the 10th day of June 2050, and due to irreconcilable differences, the parties have decided to dissolve their marriage;
AND WHEREAS, the parties desire to settle fully and finally all rights and obligations arising out of their marriage and its dissolution, including but not limited to the division of property, custody of minor children, support obligations, and any other matter arising from the marital relationship;
NOW, THEREFORE, in consideration of the mutual promises, covenants, and undertakings herein contained, the parties hereby agree as follows:
1. Dissolution of Marriage
The parties hereby acknowledge that they have agreed to dissolve their marriage. The parties shall file a joint petition for divorce in the appropriate jurisdiction. Upon issuance of the final decree of divorce, the marriage between the parties shall be deemed dissolved.
2. Custody of Children
2.1. Joint Legal Custody
The parties agree to share joint legal custody of their minor children, namely:
-
Child's Name: Emily Doe (Date of Birth: 02/15/2055)
-
Child's Name: Michael Doe (Date of Birth: 08/30/2057)
Both parents shall make decisions regarding the children’s health, education, and welfare together.
2.2. Physical Custody and Visitation
The parties agree that the Wife shall have primary physical custody of the children, with the Husband having visitation rights as follows:
-
Weekends: Every other weekend from Friday at 6:00 PM to Sunday at 6:00 PM.
-
Holidays: The parties shall alternate holidays on an annual basis.
3. Child Support
The Husband agrees to pay the Wife child support in the amount of $1,500 per month for each minor child, beginning on the 1st day of October 2070, and continuing until each child reaches the age of 18 or graduates from high school, whichever occurs later, or as otherwise agreed upon by the parties.
4. Spousal Support (Alimony)
The Husband agrees to pay the Wife spousal support in the amount of $2,000 per month, beginning on the 1st day of October 2070, and continuing for a period of five (5) years or until the Wife remarries or cohabitates with another individual, whichever occurs first.
5. Division of Marital Property
5.1. Real Property
The parties own jointly the marital home located at 456 Oak Avenue, Springfield. The parties agree that the Wife shall retain ownership of the marital home. The Husband shall transfer his interest in the property to the Wife upon execution of this Deed, and the Wife shall assume all mortgage payments and liabilities associated with the property.
5.2. Personal Property
The parties have agreed to the division of personal property as follows:
-
Wife shall receive:
-
Vehicle (Make, Model, Year): 2055 Tesla Model S
-
Household furniture, appliances, and any personal effects currently in her possession.
-
-
Husband shall receive:
-
Vehicle (Make, Model, Year): 2058 Ford F-150
-
Tools, electronics, and any personal effects currently in his possession.
-
5.3. Bank Accounts and Investments
The parties agree to divide their bank accounts, retirement accounts, and any other investments as follows:
-
Wife shall receive: 50% of the joint savings account balance.
-
Husband shall receive: 50% of the joint savings account balance.
6. Debts and Liabilities
The parties agree to assume their respective individual debts and liabilities incurred prior to or during the marriage. Any joint debts shall be divided as follows:
-
Wife shall assume: $5,000 in credit card debt and the car loan on her vehicle.
-
Husband shall assume: $10,000 in credit card debt and the student loan debt incurred during the marriage.
7. Health Insurance and Medical Expenses
7.1. Children’s Health Insurance
The Husband agrees to maintain health insurance for the minor children until each child reaches the age of 18 or until further court order. Any uninsured medical expenses shall be shared equally by the parties.
7.2. Wife’s Health Insurance
The Wife acknowledges that she will no longer be covered under the Husband’s health insurance policy upon the finalization of the divorce.
8. Waiver of Claims
Except as otherwise provided in this Deed of Divorce Settlement, each party waives any and all claims against the other party, including but not limited to claims for future spousal support, inheritance rights, or any other financial obligations arising out of the marriage.
9. Mutual Release
The parties mutually release and discharge each other from any and all claims, demands, or liabilities arising out of the marriage, except for those obligations expressly set forth in this Deed of Divorce Settlement.
10. Governing Law
This Deed of Divorce Settlement shall be governed by, and construed in accordance with, the laws of the State of California.
IN WITNESS WHEREOF, the parties hereto have executed this Deed of Divorce Settlement as of the day and year first written above.
Husband: [Your Name]
September 5, 2070
Wife: Jane Doe
September 5, 2070
Witness 1: John Smith
September 5, 2070
Witness 2: Mary Johnson
September 5, 2070
Notary Public: Sarah White
Date: September 5, 2070
