Real Estate Settlement Agreement
4. This Agreement shall be a final decision on the matters dealt with therein and may be used as evidence and included in a final judgment of divorce or dissolution. Taking into account the reciprocal release contained in this section, each of the parties thus releases the other party and its respective legal representatives, successors and recipients from all the rights of a person and renounces in particular any right, title or share in or in the income, accumulations, future investments, money or property of the other, any inheritance rights in the estate of the other, which until now, now or later may have all the rights to vote against the will of the other, to assume against the will of the other all the rights to act as executor or administrator of the will or estate of the other, all rights to obtain compensation from the estate of the other party, any additional rights that a party has or may have by reason of his or her marriage, including dowry. Real estate includes your marital home and all other homes, vacation properties, timeshares and rentals – commercial and residential properties – as well as all commercial real estate. Real estate should be listed and the transaction agreement should relate to how it is distributed. A real estate settlement note is typically used to balance assets. For example, Mike and Julie have the following assets (see Table 2 below). You`ve got together with your spouse and found out what you think is a pretty good deal: you can keep all the assets you really wanted, and your ex gets stuck with all the debts. But whether or not this agreement is sustained in court depends on a number of factors, including how it is worded, whether or not there was full financial disclosure by both parties, and possibly whether both parties had independent legal assistance. Another way to violate a transaction agreement is for a spouse to falsify information about their financial resources or assets.
For example, a party may have fraudulently overstated or undervalued the estimated cost of a given asset. . . .