Official Virginia Divorce Settlement Agreement Document

Virginia Divorce Settlement Agreement

This Divorce Settlement Agreement (“Agreement”) is made and entered into by and between _____________________________ (hereinafter “Spouse 1”) and _____________________________ (hereinafter “Spouse 2”), (collectively referred to as the “Parties”), who have made a mutual decision to legally dissolve their marriage in accordance with the laws of the Commonwealth of Virginia.

Whereas, the Parties were lawfully married on ___________________ (the “Marriage Date”), in _______________________________ (the “Place of Marriage”);

And whereas, the Parties have since determined that their marriage is irretrievably broken and have mutually decided to live separate and apart;

And whereas, the Parties wish to resolve by agreement all matters regarding their marital rights and obligations, including but not limited to division of property, debts, child custody, visitation, and support, spousal support, and all other issues arising from the marital relationship;

Now, therefore, in consideration of the mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. Legal Separation: The Parties affirm that they have lived separate and apart without cohabitation since ____________________ (the “Separation Date”), intending to permanently end their marriage.
2. Children: The Parties [ ] have / [ ] do not have minor children from this marriage. If the Parties have minor children, a separate Parenting Plan Agreement shall be made and incorporated herein by reference.
3. Division of Marital Property: The Parties agree to the division of marital property as follows:
• Real property located at _____________________________________________ shall be [ ] sold and proceeds divided / [ ] transferred to Spouse 1 / [ ] transferred to Spouse 2.
• Personal property, including but not limited to vehicles, furniture, and electronics, shall be divided as follows: ______________________________________________________________________.
• Financial accounts shall be divided as follows: ____________________________________________________________________________.
4. Debt Division: The Parties agree to the division of marital debt as follows:
• Mortgage debt on the marital residence shall be [ ] assumed by Spouse 1 / [ ] assumed by Spouse 2 / [ ] sold and debt paid from proceeds.
• Credit card debts shall be [ ] paid off jointly / [ ] assumed by Spouse 1 / [ ] assumed by Spouse 2.
• Any other debts incurred during the marriage shall be divided as follows: __________________________________________________________________.
5. Spousal Support: The Parties [ ] agree / [ ] do not agree to spousal support. If agreed, the terms are as follows: ______________________________________________________________________________.
6. Child Custody, Visitation, and Support: If applicable, the Parties have agreed to the terms of child custody, visitation, and support as outlined in the Parenting Plan Agreement, which is attached hereto and incorporated herein by this reference.
7. Modification: This Agreement may only be modified or amended through a written document executed by both Parties.
8. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Virginia, without giving effect to any choice or conflict of law provision or rule.
9. Entire Agreement: This Agreement constitutes the entire agreement between the Parties relating to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, of the Parties.

IN WITNESS WHEREOF, the Parties have executed this Divorce Settlement Agreement as of the ______ day of ________________, ______.

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Spouse 1 Signature

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Spouse 2 Signature