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.
Virginia Separation and Property Settlement Agreement
Category:
State:
Multi-State
Control #:
US-01714-2-AZ
Format:
Word;
Rich Text
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How to fill out Separation And Property Settlement Agreement?
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FAQ
Even with a separation agreement in place, the parties are not ?legally separated.? Again, Virginia does not have a procedure for obtaining a status of legal separation. A separation agreement is not a court order. A fully executed agreement is a valid contract and as such is enforceable by general contract principles.
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.
Virginia is an ?equitable distribution? state, which means a judge will divide property in a way he interprets as fair?but not necessarily what is equal. Thus, property is not always a 50/50 split. In fact, it's common that two-thirds of the assets will go to the higher wage earner.
You Can't Remarry if You Are Legally Separated Another disadvantage of a legal separation is that it doesn't end your marriage. You can't remarry if you are legally separated. Therefore, you and your spouse must remain married on paper, even if you live apart and consider yourselves divorced.
The short answer is no. You can draft a separation agreement yourself. But, as with all contracts and legal documents, it is best that you consult with a knowledgeable Virginia family law attorney with experience creating separation agreements.
The Basics. A property settlement agreement is a binding contract between you and your spouse that outlines the terms of your divorce. In its most basic form it will cover the division of assets, disposal of debts, custody of children, spousal and child support.
Virginia, unlike many other states, does not recognize ?separation? as a legal status in a no-fault divorce. Therefore, there is no special designation that you need from the court in order to be legally separated before you seek a divorce.
Under Virginia law, married people are financially responsible for each other - the husband has a duty to support his wife, and the wife has a duty to support her husband. This duty lasts until the final Decree in Divorce is granted. It doesn't stop simply because the couple separates.