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Sample Form: Property Settlement Agreement


 

B. Homestead

Petitioner / Respondent (circle one) will remain in the family home, located at _____________________, until at least such time as the youngest child of the parties is eighteen years old, graduates from high school, or becomes emancipated, whichever occurs first. The resident of the homestead agrees to pay all expenses associated with living in the home, including but not limited to the mortgage payments, taxes, insurance, utility bills, and maintenance costs.

The parties agree that the current value of the equity in the homestead is $______. At such time as the youngest child turns eighteen, graduates from high school, or becomes emancipated, whichever occurs first, the home will be sold and the equity will be evenly / equitably divided between the parties as follows: $________ to Petitioner; $_______ to Respondent. In the alternative, the resident of the homestead will obtain a home equity loan at any time up to including that date and will pay the nonresident party his or her share. The resident party agrees to pay interest on the nonresident party's share at the rate of ___% from the date the divorce is finalized until such time as payment is made.

 

C. Personal Property

The personal property of the parties that has not already been divided between them, including but not limited to household furnishings, clothing, collections, computer equipment, and artwork, will be divided as follows:

 

To Petitioner:

__________________

__________________

__________________

__________________

__________________

__________________

 

To Respondent:

__________________

__________________

__________________

__________________

__________________

__________________


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