Sample Settlement Agreements

Written by Helen Glenn Court
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America, there's no denying it, is a litigious society. Lawsuits, as it were, run fairly rampant and are brought on the basis of both frivolous and good causes. But because of it, settlement agreements are everywhere. From real estate to divorce to a defective coffee maker, you'll find a settlement agreement (in one form or another) to cover it. Whether this is a sad reflection on our society is a separate subject. Living with settlement agreements, and understanding what they cover in different circumstances and when you're better off with one, is worth addressing, when that option exists.

A marital settlement agreement, to cite an obvious example, will spell out in detail the terms of a divorce. These terms will include child custody, alimony, child support, property settlement, debt negotiations, and more. There are a great many advantages to having a standardized divorce agreement, though they are by no means required by law.

Common Settlement Agreements

For one, there's less chance of misunderstandings (though subsequent contests are certainly a possibility). Such a divorce also tends to be processed more quickly. It opens the door as well to avoiding court altogether, which is generally in the best interest of everyone. This is definitely the case when children are involved.

The other especially common (more common, in fact) settlement agreement woven into the fabric of daily life has to do with real estate. The final phase of any real estate transaction is generally referred to as settlement. There's no getting around a real estate settlement because it's written into law in every U.S. state. There are two parts, the execution of the agreement, and the transaction that the agreement covers. The process can be complex.

Normally when you enter into a transaction that might call for a settlement agreement, lawyers will be involved. Real estate is a classic example. Divorce can go either way. You might not have to worry about composing or finding the necessary documents. They are, however, readily available to anyone. If you do want or need to find such templates yourself, an online search is certainly the easiest route. Consulting with an attorney before you file an agreement, however, is always a good idea. Basically, it boils down to the buyer and the seller sitting down at a table with real estate agents and a closing attorney to conclude the deal by exchanging documents and money.

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