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SEPARATION AND PROPERTY SETTLEMENT AGREEMENT
STATE OF DELAWARE
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This SEPARATION AND PROPERTY SETTLEMENT AGREEMENT ("Agreement") is made and
entered into on this ___ day of _____________, 20___, by and between:
PETITIONER: [FULL LEGAL NAME]
Address: [STREET ADDRESS]
[CITY, STATE ZIP]
("Petitioner")
and
RESPONDENT: [FULL LEGAL NAME]
Address: [STREET ADDRESS]
[CITY, STATE ZIP]
("Respondent")
The Parties** are collectively referred to as "the Parties."
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RECITALS
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A. The Parties were lawfully married on [DATE OF MARRIAGE] in [CITY, STATE].
B. The Parties are residents of the State of Delaware.
C. The Parties have separated on [DATE] or are currently living separate
and apart.
D. The parties desire to settle by agreement all matters relating to the
dissolution of their marriage, including division of property and debt.
E. The Parties represent that they have made full disclosure of all assets
and liabilities.
NOW, THEREFORE, in consideration of the mutual promises and agreements
contained herein, the Parties agree as follows:
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ARTICLE I — SEPARATION
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1.1 Date of Separation. The Parties separated on [DATE] and have lived
separate and apart since that date without cohabitation.
1.2 Separation Voluntary. The separation is voluntary, and both Parties
desire to remain separated and dissolve their marriage.
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ARTICLE II — PROPERTY DIVISION
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2.1 Petitioner's Separate Property. The following property is confirmed as
Petitioner's separate property, free from any claim by Respondent:
[ ] Real property located at: [ADDRESS]
Legal description: [DESCRIPTION]
[ ] Vehicle: [YEAR/MAKE/MODEL/VIN]
[ ] Bank accounts: [BANK NAME, ACCOUNT TYPE, BALANCE]
[ ] Retirement accounts: [PLAN NAME, VALUE]
[ ] Personal property: [DESCRIBE ITEMS]
[ ] Other: [DESCRIBE]
2.2 Respondent's Separate Property. The following property is confirmed as
Respondent's separate property, free from any claim by Petitioner:
[ ] Real property located at: [ADDRESS]
[ ] Vehicle: [YEAR/MAKE/MODEL/VIN]
[ ] Bank accounts: [BANK NAME, ACCOUNT TYPE, BALANCE]
[ ] Retirement accounts: [PLAN NAME, VALUE]
[ ] Personal property: [DESCRIBE ITEMS]
[ ] Other: [DESCRIBE]
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Article III — MARITAL PROPERTY
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3.1 Division of Marital Property. The Parties agree to divide their
marital property as follows, in accordance with 13 Del.C. § 1513:
Real Property:
| Property | Address | Awarded To | Buyout |
|---|---|---|---|
| [DESCRIPTION] | [ADDRESS] | [PARTY] | $______ |
Vehicles:
| Vehicle | Year/Make/Model | Awarded To | Buyout |
|---|---|---|---|
| [VEHICLE] | [INFO] | [PARTY] | $______ |
Bank and Investment Accounts:
| Institution | Account Type | Balance | Awarded To |
|---|---|---|---|
| [BANK] | [TYPE] | $______ | [PARTY] |
Retirement Accounts:
| Owner | Plan Name | Value | Awarded To |
|---|---|---|---|
| [PARTY] | [PLAN] | $______ | [PARTY] |
3.2 Equalization Payment. To equalize the division:
[ ] No equalization payment required.
[ ] [PARTY] shall pay $______ to [PARTY] within _______ days.
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Article IV — MARITAL DEBTS
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4.1 Division of Marital Debts. The Parties agree to allocate responsibility
for marital debts as follows:
| Creditor | Purpose | Balance | Responsible Party |
|---|---|---|---|
| [CREDITOR] | [PURPOSE] | $______ | [PARTY] |
| [CREDITOR] | [PURPOSE] | $______ | [PARTY] |
4.2 Indemnification. Each Party agrees to indemnify and hold harmless the
other Party from any liability for debts assigned to them.
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Article V — SPOUSAL SUPPORT
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5.1 Spousal Support. The Parties agree as follows:
[ ] No Spousal Support. Neither Party shall pay spousal support to the
other. Both Parties waive any claim for alimony.
[ ] Spousal Support Payable. [PAYING PARTY] shall pay to
[RECEIVING PARTY] the amount of $______ per month for _______ months.
Payment due date: The ___ day of each month.
Payment method: [ ] Direct payment [ ] Through the Court
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Article VI — NAME CHANGE
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6.1 Restoration of Former Name.
[ ] Petitioner requests restoration of former name to: [FORMER NAME]
[ ] Respondent requests restoration of former name to: [FORMER NAME]
[ ] Neither Party requests a name change.
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Article VII — MUTUAL WAIVER AND RELEASE
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7.1 Mutual Release. Except as otherwise provided herein, each Party
releases and forever discharges the other from all claims arising from the
marriage.
7.2 Estate Waiver. Each Party waives any claim to the other's estate.
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ARTICLE VIII — GENERAL PROVISIONS
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8.1 Full Disclosure. Each Party represents full disclosure of all assets and
liabilities.
8.2 Voluntary Execution. Each Party acknowledges entering this Agreement
voluntarily without duress.
8.3 Independent Legal Advice. Each Party has had the opportunity to consult
independent legal counsel.
8.4 Integration. This Agreement contains the entire understanding of the
Parties.
8.5 Governing Law. This Agreement shall be governed by Delaware law.
8.6 Court Incorporation. This Agreement shall be incorporated into the
Final Decree of Divorce.
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SIGNATURES
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_________________________________ _________________________
[PETITIONER SIGNATURE] Date
[PETITIONER FULL NAME, printed]
Address: [ADDRESS]
[CITY, STATE ZIP]
Phone: [PHONE]
Email: [EMAIL]
_________________________________ _________________________
[RESPONDENT SIGNATURE] Date
[RESPONDENT FULL NAME, printed]
Address: [ADDRESS]
[CITY, STATE ZIP]
Phone: [PHONE]
Email: [EMAIL]
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NOTARY ACKNOWLEDGMENT — PETITIONER
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STATE OF DELAWARE
) ss.
COUNTY OF ______________
Before me, the undersigned Notary Public, personally appeared [PETITIONER NAME],
known to me (or proved on the basis of satisfactory evidence) to be the person whose name is
subscribed to this instrument, and acknowledged that they executed the same for the
purposes therein stated.
WITNESS my hand and official seal this ___ day of _____________, 20___.
_________________________________
Notary Public
My Commission Expires: _______________
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NOTARY ACKNOWLEDGMENT — RESPONDENT
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STATE OF DELAWARE
) ss.
COUNTY OF ______________
Before me, the undersigned Notary Public, personally appeared [RESPONDENT NAME],
known to me (or proved on the basis of satisfactory evidence) to be the person whose name is
subscribed to this instrument, and acknowledged that they executed the same for the
purposes therein stated.
WITNESS my hand and official seal this ___ day of _____________, 20___.
_________________________________
Notary Public
My Commission Expires: _______________
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COURT APPROVAL
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This Separation and Property Settlement Agreement is hereby approved and
incorporated into the Final Decree of Divorce.
______________________________ _________________________
Judge Date
FAMILY COURT OF THE STATE OF DELAWARE
IN AND FOR [COUNTY] COUNTY
Case No.: _______________
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