Property settlement contract – this term applies in the area of Family Law, where details the agreement signed during divorce trials, between ex-spouses. With the property settlement contract the parties agree on and divide the assets, previously acquired during the marriage, and distribution of the assets between them. This contract, once concluded, is to be implemented in the divorce settlement by the court.
*Note that it is advisable to hire a lawyer who to represent you during divorce proceedings and to draw your property settlement contract which you wish to sign. Lawyers are qualified in Law and they know what terms and conditions should be implemented in such forms to protect your interests and to be in accordance with your needs; as well to consult you on the clauses of property settlement contracts, proposed to you for signing.