Marital Settlement Agreement {4A-301}

4A-301. Marital settlement agreement. STATE OF NEW MEXICO COUNTY OF ____________________ ____________________ JUDICIAL DISTRICT _____________________________________, Petitioner, v. No. __________ _____________________________________, Respondent. MARITAL SETTLEMENT AGREEMENT1 _________________________ (Petitioner's name) and ___________________________ (Respondent's name) are married and agree to follow this agreement beginning on the day we both sign it. We understand that the judge may make changes to this agreement and that we must comply with any changes made. I. PROPERTY WE ARE DIVIDING2 A. Personal property (such as clothing, furniture, jewelry, or artwork). We have agreed how we will divide our property. We have attached a Personal Property List (Attachment A) showing all our property and which of us will receive that property. (Choose 1 or 2) [ ] 1. Each of us already has possession of all the personal property we each expect to receive. (Or) [ ] 2. We will make sure we each have our own property by ___________________________ (date). B. Real Property (such as a home, mobile home, condominium, lot, or commercial building).3 (Choose all that apply) [ ] 1. Neither of us has real property. [ ] 2. We have a marital home, which is located at ________________________ _____________________________________ (street address), and we agree to American LegalNet, Inc. www.FormsWorkFlow.com do the following: (Complete the correct section: a. Keep the home; b. Sell the home; or c. Other plan.) [ ] a. Keep the home. We agree to the following: (Choose i or ii) [ ] i. Petitioner shall keep the home and be responsible for all debts related to the home. (Or) [ ] ii. Respondent shall keep the home and be responsible for all debts related to the home. The person who keeps the home is called the "homeowner." The other person is called the "moving spouse." We further agree to the following: (Choose all that apply) [ ] iii. The amount owed to the moving spouse to buy out that person's interest is $_______________________, which is included in the calculation of the Cash Payment, Section III, below. [ ] iv. The homeowner will apply to refinance the debt owed on the home no later than ______________________________ (date). [ ] v. This is our plan for the homeowner to buy out the moving spouse's interest in the home or to get the moving spouse off of the loan papers:4 ________________________________________________ ________________________________________________ ________________________________________________ [ ] b. Sell the home. We are going to sell the home and divide the money from the sale as follows: ______________________________________________________ _____________________________________________________. While the home is being sold, [ ] Petitioner (or) [ ] Respondent (choose one) will stay in the home. American LegalNet, Inc. www.FormsWorkFlow.com Until the home sells, we will pay expenses, including mortgage, taxes and insurance, utility bills, and repairs for the home as follows (describe who is to pay and how much each person will pay): ______________________________________________________ ______________________________________________________ _____________________________________________________. We both will cooperate with the showing of the home and the sale of the home, including signing all paperwork needed in order to sell it and transfer title. Both of us will preserve the home in a reasonable way including the following things: ______________________________________________________ ______________________________________________________ _____________________________________________________. [ ] c. Other plan. We have attached a separate sheet with our plan regarding the home. [ ] 3. One or both of us has other real property as set forth in the attached Real Property List (Attachment B), and we have agreed to divide that property as set forth in the attachment. If one party owes the other money for the division of the other real property, that amount should be included in the calculation of the Cash Payment, Section III, below. C. Bank and investment accounts (such as checking accounts, savings accounts, stocks, bonds, certificates of deposit, mutual funds, or life insurance policies with cash value). (Choose 1 or 2) [ ] 1. We do not have any bank or investment accounts. (Or) [ ] 2. We have the following bank or investment accounts and will divide them as follows: Petitioner will have the following bank or investment accounts: Name of institution ___________________________ ___________________________ ___________________________ Last four (4) digits of account number ________________ ________________ ________________ Respondent will have the following bank or investment accounts: American LegalNet, Inc. www.FormsWorkFlow.com Name of institution ___________________________ ___________________________ ___________________________ Last four (4) digits of account number ________________ ________________ ________________ D. Retirement Plans (such as IRAs, retirement accounts, pension plans, or 401(k) plans).5 (Choose 1 or 2) [ ] 1. Neither of us has a retirement plan. (Or) [ ] 2. We will be dividing our retirement plan(s) as follows: Petitioner has the following retirement plan(s): (Circle one to show whether Petitioner will KEEP the entire plan, DIVIDE the plan with Respondent, or TRANSFER the entire plan to Respondent) [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] Respondent has the following retirement plan(s): (Circle one to show whether Respondent will KEEP the entire plan, DIVIDE the plan with Petitioner, or TRANSFER the entire plan to Petitioner) [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] If plan will be DIVIDED, the amount or % to be given to Petitioner: If plan will be DIVIDED, the amount or % to be given to Respondent: (Check and complete if retirement plan(s) will be divided) [ ] For the following retirement plans that will be divided, Petitioner shall prepare a Qualified Domestic Relations Order ("QDRO"), obtain the signature of the other party, and submit the QDRO to the Court by _______________ (date).6 (List the American LegalNet, Inc. www.FormsWorkFlow.com plans) _______________________________________________________________ _______________________________________________________________ [ ] For the following retirement plans that will be divided, Respondent shall prepare a Qualified Do