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.
Oklahoma Separation and Property Settlement Agreement
Category:
State:
Multi-State
Control #:
US-01714-2-AZ
Format:
Word;
Rich Text
Instant download
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FAQ
Separate property is property that is owned by one spouse and not the other. There are two categories of marital property; community property, and separate property. Community property is when spouses share all property equally.
That's why property acquired after separation might still be considered marital if it was acquired with joint funds, both spouses used or managed the property, or it's clear that they meant the property to be marital.
Personal property includes, but is not limited to, vehicles, real estate, furniture, jewelry and other assets that were owned by you prior to marriage. That property cannot be divided in an Oklahoma divorce unless it has become a marital asset by your actions or due to special circumstances exist.
Dividing The Marital Estate Under Oklahoma Law This essentially means that both yours, and your spouse's separate property, is exempt from the division. Your separate property generally includes all assets and debts owed by each party before the divorce and also includes compensation payouts, inheritance, and gifts.
Here is what you are entitled to in an Oklahoma City divorce: The retirement benefits accrued during the marriage. Any property that you owned before the marriage that still belongs to you. However, if the property has been comingled with marital property, your partner has a share in the asset.
Generally, separate property is: Anything you earned or owned (or a debt) from before you married or after you separated. Anything you buy with separate property or you earn from separate property. Gifts or inheritance (to one of you) even if it was given or inherited when you were married.
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.
A prenuptial agreement can protect a party's assets by setting forth clear terms that state that his or her assets shall remain his or her separate property in the event of divorce when a party's assets may be subject to a community property division if the prenuptial agreement were not in place.