This form is a Separation and Property Settlement Agreement. The parties have agreed to a separation due to irreconcilable differences. The agreement also apportions certain property items between the parties. Each party agrees to release and quitclaim his/her right, title, and interest in each item that is apportioned to the other party.
Arkansas Separation and Property Settlement Agreement
Category:
State:
Multi-State
Control #:
US-01714-2-AZ
Format:
Word;
Rich Text
Instant download
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How to fill out Separation And Property Settlement Agreement?
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FAQ
You each keep your separate property. Marital property is all other property that either you or your spouse own. Only marital property is subject to division in a divorce proceeding. In Arkansas, all marital property is distributed one-half (1/2) to each party unless the Court finds such a division to be inequitable.
Arkansas Laws Regarding Property Division Arkansas is an equitable property division state. Generally, all property accrued during the marriage will be equally divided, including real estate, retirement accounts and other types of assets. However, the courts can divide the property unequally, if equity so dictates.
A marital separation agreement, also known as a property settlement agreement, is a written contract dividing your property, spelling out your rights, and settling problems such as alimony and custody.
The basic rule in Arkansas is that an inheritance, regardless of when it was received, is the sole property of the heir.
Arkansas is an ?equitable distribution? state when it comes to property division in the dissolution of a marriage. Parties to a divorce have the ability to personally divide their property by a signed settlement called a Marital Separation Agreement or a Property Settlement Agreement, which the judge must approve.
Arkansas recognizes both fault and no-fault grounds for divorce. No-fault divorce requires the parties to show that they have lived separately and apart from each other for at least 18 consecutive months and that there is no reasonable expectation of reconciliation. This is known as a ?separation divorce.?
Property laws in California say that any assets or debts acquired by any spouse during their marriage are owned and owed by both of them. And it does not matter which spouse earned money to buy something. In a divorce, all this marital property will be split 50/50.