This form is a Settlement Agreement usable in cases where licensing, patents, or commercial trade secrets are a factor.
Virginia Settlement Agreement
State:
Multi-State
Control #:
US-TS10045
Format:
Word;
PDF;
Rich Text
Instant download
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FAQ
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.
It is customary, but not legally required, that they be notarized.
Registering the settlement agreement will make it enforceable as a District Court order. This means that if one party does not fulfil their obligations under the registered settlement agreement, enforcement action may be taken against them.
A Virginia marital settlement agreement is used by spouses entering the divorce process to communicate to the court how they'd like to divide property, assets, debt, child custody, child support payments, alimony, and all other shared responsibilities.
1. An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. Regardless of the exact terms, parties often choose to keep their settlement agreements private. 2. In business law, the payment, satisfaction, and closing of an account.
1. An agreement that ends a dispute and results in the voluntary dismissal of any related litigation. Regardless of the exact terms, parties often choose to keep their settlement agreements private. 2. In business law, the payment, satisfaction, and closing of an account.
What should be included in a settlement agreement is all the terms that you want to be part of the final judgment. For example, it might just state the amount that one party is going to pay to the other party. However, it might also say the timeline for payment or specify what the payment is for.
Settlement agreements often contain clauses relating to confidentiality whereby the parties agree to keep the agreement itself confidential and not disclose its details to third parties (usually with limited exceptions such as close family members and professional advisers, or an exception that makes it clear that the ...