Marital Settlement Agreement

STATE OF NEW MEXICO COUNTY OF BERNALILLO SECOND JUDICIAL DISTRICT , Petitioner, v. No. , Respondent. MARITAL SETTLEMENT AGREEMENT1 (Petitioner222s name) and (Respondent222s 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 agreedhow we will divide our property. We have attached a Personal Property List (AttachmentA)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 commercialbuilding).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 1 Rev. 1/1/1 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 223homeowner.224 The other person is called the 223moving spouse.224 We further agree to the following: (Choose all that apply) [ ] iii. The amount owed to the moving spouse to buy out that person222s 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 spouse222s 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: . 2 Rev. 1/1/1 American LegalNet, Inc. www.FormsWorkFlow.com While the home is being sold, [ ] Petitioner (or) [ ] Respondent (choose one) will stay in the home. 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 asfollows: Petitioner will have the following bank or investment accounts: Name of institution Last four (4) digits of account number 3 Rev. 1/1/1 American LegalNet, Inc. www.FormsWorkFlow.com Respondent will have the following bank or investment accounts: 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 If plan will be DIVIDED, the amount or % to be given to [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 If plan will be DIVIDED, the amount or % to be given to [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] [KEEP] [DIVIDE] [TRANSFER] 4 Rev. 1/1/1 American LegalNet, Inc. www.FormsWorkFlow.com (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 (223QDRO224), obtain the signature of the other party, and submit the QDRO to the Court by (date).6 (List the plans) [ ] For the following retirement plans that will be divided, Respondent shall prepare a Qualified Domestic Relations Order (223QDRO224), obtain the signature of the other party, and submit the QDRO to the Court by (date).6 (List the plans) E.Vehicles (such as cars, trucks, motorcycles, recreational vehicles, boats, tractors, ortrailers).7 (Choose 1 or 2) [ ] 1. We do not have any vehicles. (Or) [ ] 2. We have vehicles and are dividing them as follows: Petitioner will keep the following vehicles and assume any debt relating to each vehicle (provide the make, model, and year of each vehicle and list the vehicle identification number): Vehicle description Vehicle Identification No. . Respondent will keep the following vehicles and assume any debt relating to each vehicle (provide the make, model, and year of each vehicle and list the vehicle identification number): Vehicle description Vehicle Identification No. 5 Rev. 1/1/1 American LegalNet, Inc. www.FormsWorkFlow.com . Each person listed above as keeping the vehicles will pay for the costs of the vehicles, including insurance. The parties will transfer title by the following date: [ ] (date). (Or) [ ] when the vehicle is paid off. F.Other property (such as business interests, patents, trademarks, copyrights, royalties,manuscripts, or any other property). (Choose 1 or 2) [ ] 1. Neither party has any other property. (Or) [ ] 2. One or both parties has the other property listed below, and we have agreed todivide it as follows: . II.DEBTS WE ARE DIVIDING8 A.Debt. We attach a Debt List (Attachment C) which lists all of our debts, includingmortgages, vehicle payments, taxes, credit cards, student loans, medical debts, judgments,and any other debts we may have. Any debt not listed is the responsibility of the personwho created it. Each of us will pay debts we created prior to our marriage, unless westate differently here. Unless we state differently here, a person who takes property (suchas a house or car) with a debt associated with it, will take the debt. (Choose all that apply) [ ] We have no debt from our marriage. [ ] We will pay our debts as listed on Attachment C. [ ] The amount owed from to for 6 Rev. 1/1/1 American LegalNet, Inc. www.FormsWorkFlow.com the division of the debts is $, which is included in the calculation of the Cash Payment, Section III, below. B.Credit cards and charge cards. Each of us will turn in and cancel all joint credit cards,or we will have the credit card company take the other person222s name off of the account. C.Taxes. We will share information necessary to correctly file our income tax returns. Wewill get the help we need to file our taxes. D.Problem with tax returns. If any of our returns that we filed together are audited orcontested, we will meet to decide what to do. If we cannot decide who pays the taxesowed or who gets any refund, we will ask a judge to decide at the time the problem comesup. E.Legal promise. We understand that if either of us fails to pay the debts we havepromised to pay, the other party may end up making that payment. If that happens, theparty who should have paid promises to repay the other p