DIVORCE SETTLEMENT AGREEMENT
THIS AGREEMENT (the "Agreement") is made this ____ day of ___________, 20___.
_________
residing at _________
-and-
_________
residing at _________
A. WHEREAS, the Parties _________ and _________ (collectively the "Parties" and individually a "Party"), were married to each other on _________ and celebrated their marriage at _________, _________.
WHEREAS certain unhappy and irreconcilable differences and difficulties have arisen between the Parties as a result of which they have separated and are now living apart from each other, and WHEREAS a matrimonial action between the Parties is now pending on the court of the State of Alabama, and WHEREAS the Parties desire to resolve certain issues of said action and confirm their divorce and to fix their respective financial and property rights, support rights and all other rights, privileges, and obligations and matters with respect to each other rising out of the marital relationship and otherwise.
B. The consideration for this Agreement is the mutual promises and agreements the Parties have made regarding all property and financial-related matters.
C. All matters addressed in this agreement will be considered final and a part of the final decree of divorce. However, this agreement can be amended in a subsequent divorce agreement.
D. The Parties were fully advised and informed by their respective attorneys of their rights and liabilities under the terms of this Agreement.
E. The Parties entered into this Agreement of their own accord. The Parties confirm that they are of sound mind and chose willingly not to receive legal counsel from an attorney.
NOW, THEREFORE, it is mutually agreed by the Parties as follows:
1. From the date of execution of this Agreement, if the Parties are not separated already, such Parties shall live separate and apart from each other, free from the marital control of the other spouse. The Parties agree not to occupy, visit or attend the other Party's property, workspace, or social space without a prior agreement.
2. Neither Party shall molest, disturb, trouble, or interfere with the peace and comfort of the other or compel or seek to compel the other to associate, cohabit or dwell with the other by any action or proceeding for restoration of conjugal rights or by any means whatsoever. Neither Party shall directly or indirectly make statements to each other or any other person of a derogatory nature regarding the other Party.
CHILDREN, CUSTODY, PARENTING TIME, AND EMANCIPATION
3. The Parties do not have minor children from the marriage. The Parties' children from the marriage are emancipated adults without any need for economic support.
4. The Parties do not claim to be entitled to spousal maintenance. Further, the Parties explicitly waive any present and future claim to spousal maintenance. Finally, this waiver shall apply independently of any future change in the circumstances of either Party.
5. The Parties hereby state that they have agreed on all matters related to the division of assets. Moreover, the Parties do not claim any assets that might be in the other Party's possession.
6. The Parties will not incur any further debt or liability. If an individual Party incurs any debt as of the date of execution of this Agreement, only that Party will be responsible for that debt, even if that debt was the result of joint credit.
EQUITABLE DISTRIBUTION RELEASE
7. The Parties agree that they are aware of the equitable distribution laws of the State of Alabama.
It is the intention of the Parties that the equitable distribution laws will not apply to the ownership, interest, and division of their property, real or personal, either jointly or separately owned, and owned by either one or both of them.
The Parties further agree to make this Divorce Agreement the final settlement of all property matters, real or personal, owned by the Parties, and contract out of the equitable distribution laws of the State of Alabama.
ESTATE AND TESTAMENTARY DISPOSITION
8. The Parties renounce any rights they might have in the administration of the other's estate under any law of the State of Alabama, any other state of the United States of America, or any country in which there may be any part of the estate of either Party. The Parties also waive and release the other from any rights that each may acquire in property, assets, or estate as the other's spouse or a surviving spouse.
9. The Parties waive any present or future rights or claims, in which either Party may have any interest, to any IRAs, 401(k) plans, or any defined contribution plan, defined benefits plan, retirement plan or pension, savings plan, or profit sharing plan of any type available through employment, or any benefits.
10. The Parties release all claims under the statutes or common law of the State of Alabama or any other jurisdiction, including actions founded on constructive trust, resulting trust or unjust enrichment, which such Parties may have or acquired or will acquire and be entitled to against the property of the other. However, whenever real property, personal property, or any income from such property or assets of the other Party is acquired, and there is an increase in the value of such property or against the estate of the other Party, if any such action should be brought, the provisions of this Agreement may be pleaded as an answer to any claim asserted and will constitute a defense thereto.
RECONCILIATION AND MATRIMONIAL DECREES
11. This Divorce Agreement shall not be invalidated or otherwise affected by a reconciliation or a resumption of marital relations between the Parties unless they have executed and acknowledged a written statement expressly setting forth that they are canceling this Divorce Agreement. This Divorce Agreement shall not be invalidated or otherwise affected by any decree or judgment made in any court in any pending or future action or proceeding between the Parties.
Each Party agrees that the provisions of this Divorce Agreement shall be submitted to any court in which either Party may seek a judgment, order or decree in a matrimonial action or any other action or proceeding affecting the marital status of the Parties and that the provisions of this Divorce Agreement shall be incorporated in said judgment, order or decree with such specificity as the court shall deem permissible and by reference as may be appropriate under law and under the rules of the court. However, notwithstanding said incorporation, the provisions of this Divorce Agreement shall survive any decree, order or judgment and shall not merge therein, and this Divorce Agreement may be independently enforced.
MODIFICATION AND WAIVER
12. Neither this agreement nor any provision hereof shall be amended or modified ordeemed amended or modified, except by an agreement in writing duly subscribed and acknowledged with the same formality as this Divorce Agreement, except as expresslyprovided herein. Any waiver by either party of any provision of this Divorce Agreement or any right hereunder shall not be deemed a continuing waiver and shall not prevent or stop said Party from thereafter enforcing said provision or right; and the failure of either Party to insist in any one or more instances upon the strict performance of any of the terms or provisions of this Divorce Agreement by the other Party shall not be construed as a waiver or relinquishment for the future of any such term or provision, but the same shall continue in full force and effect.
CHOICE OF LAW
13. This Divorce Agreement and all rights and claims herein described shall be interpreted in accordance with the laws of the State of Alabama.
TERMINATION OF THE DIVORCE AGREEMENT
14. Only the Parties may terminate or amend this Divorce Agreement in writing and signed by both of them.
BINDING AGREEMENT ON OTHER PARTIES
15. This Divorce Agreement shall also be binding on the heirs, personal representatives, and assigns of the parties.
INDEPENDENT COVENANTS
16. Each of the respective rights and obligations of the parties hereunder shall be deemed independent and may be enforced independently irrespective of any of theother rights and obligations set forth herein.
POSSIBLE INVALIDITY OF PROVISIONS
17. In case any provision of this Divorce Agreement should be held to be invalid, unenforceable or contrary to the law of any country, state or jurisdiction, said invalidity or unenforceability shall not affect any other provisions hereof, all of which shall continue, nevertheless, in full force and effect. Any provision which is held to be illegal or invalid in any country, state or jurisdiction shall, nevertheless, remain in full force and effect in any country, state or jurisdiction in which said provision is legal and valid.
IMPLEMENTATION
18. Each party shall promptly and without charge execute and deliver to the other Party such other papers, documents and instruments as may be reasonably necessary or desirable to carry out the provisions, purposes and intent of this agreement.
ENTIRE AGREEMENT
19. This Divorce Agreement contains the entire understanding of the Parties who hereby acknowledge that there have been and are no prior or other Divorce Agreements, representations, warranties, covenants or undertakings other than those expresslyset forth herein.
IN WITNESS WHEREOF, the Parties have duly affixed their signatures on this ____ day of ___________, 20___.
SIGNED by _________ and _________, in the presence of:
| |
______________________________ | |
(Signature of Witness) | |
| ______________________________ |
| _________ |
______________________________ | |
(Print Name) | |
| |
______________________________ | |
(Signature of Witness) | |
| ______________________________ |
| _________ |
______________________________ | |
(Print Name) | |
CERTIFICATE OF INDEPENDENT LEGAL ADVICE
THE STATE OF Alabama
COUNTY OF ____________________
I, _______________________________, of ___________________________, State of Alabama, Attorney at law, DO HEREBY CERTIFY:
THAT on this day and in my professional capacity, I gave legal advice to _________, apart from _________, regarding their legal rights and liabilities under the terms and conditions of this Divorce Agreement. I acted for their sole interest and fully explained to them the legal effect of this Divorce Agreement. The Parties executed this agreement in my presence and declared that they were executing it of their own free-will and without any threats, coercion or influence from _________ or any other person.
DATED at the City of _________________, in the State of Alabama this ____ day of ___________, 20___.
_____________________________
Print Name: _________________
Attorney
I, _________, the person named in the annexed Agreement, hereby acknowledges the foregoing this ____ day of ___________, 20___.
_____________________________
_________
CERTIFICATE OF INDEPENDENT LEGAL ADVICE
THE STATE OF Alabama
COUNTY OF ____________________
I, _______________________________, of ___________________________, State of Alabama, Attorney at law, DO HEREBY CERTIFY:
THAT on this day and in my professional capacity, I gave legal advice to _________, apart from _________, regarding their legal rights and liabilities under the terms and conditions of this Divorce Agreement. I acted for their sole interest and fully explained to them the legal effect of this Divorce Agreement. The Parties executed this agreement in my presence and declared that they were executing it of their own free-will and without any threats, coercion or influence from _________ or any other person.
DATED at the City of _________________, in the State of Alabama this ____ day of ___________, 20___.
_____________________________
Print Name: _________________
Attorney
I, _________, the person named in the annexed Agreement, hereby acknowledges the foregoing this ____ day of ___________, 20___.
_____________________________
_________
NOTARY ACKNOWLEDGMENT
The State of Alabama | ) |
| ) |
County of ____________________ | ) |
I __________________________________, do hereby certify that _________ personally appeared before me this day and acknowledged that he/she executed the Divorce Agreement voluntarily on the day the same bears date.
Given under my hand this ____ day of ___________, 20___.
| | _____________________________ |
| | NOTARY PUBLIC |
| | Print Name: _________________ |
My Commission Expires:
________________________ NOTARY ACKNOWLEDGMENT
The State of Alabama | ) |
| ) |
County of ____________________ | ) |
I __________________________________, do hereby certify that _________ personally appeared before me this day and acknowledged that he/she executed the Divorce Agreement voluntarily on the day the same bears date.
Given under my hand this ____ day of ___________, 20___.
| | _____________________________ |
| | NOTARY PUBLIC |
| | Print Name: _________________ |
My Commission Expires:
________________________