Fill and Sign the Legal Separation Property Form

SEPARATION AND PROPERTY SETTLEMENT AGREEMENT WHEREAS, ________________________ , and ________________________ , hereinafter referred to as "Co-Petitioners", are now married; and WHEREAS, the parties desire to make a mutually acceptable settlement of their rights, liabilities, obligations and property rights arising out of and during the course of their marital relationship. No reconciliation is contemplated; and WHEREAS, ________________________ and/or ________________________ , Co- Petitioners, is/are actual and bona fide resident(s) of _____________ County, Commonwealth of Kentucky, and was/were for more than one hundred eighty (180) days immediately prior to the commencement of this action; and WHEREAS, t he Parties were lawfully married on _______ day of _______________ , 20 ___ in _____________ County, ________________________ ; WHEREAS, t here are no minor children of said marriage, and the wife is not now pregnant. All children of the marriage are over the age of eighteen (18) and emancipated; and, WHEREAS, Co-Petitioners separated on _______ day of _______________ , 20 ___ , and from said date up to the present, the Parties have lived separate and apart without any cohabitation for at least sixty (60) days. The parties are entitled to a decree of dissolution of marriage on the grounds of irretrievable breakdown of the marriage with no reasonable prospect of reconciliation, pursuant to Kentucky Revised Statutes, Title 35, Chapter 403.170 et seq. ; and WHEREAS, the Parties intend to file, or have filed, a Joint Petition for Dissolution of Marriage in this matter, and agree that the Court may award the Parties an uncontested Decree of Divorce and Judgment in this matter consistent with the terms of this Separation and Property - 1 - Settlement Agreement; and WHEREAS, the parties hereto agree that the provisions of this Separation and Property Settlement Agreement shall be incorporated into any judgment or Decree of Dissolution of Marriage, and that this Separation and Property Settlement Agreement shall survive, and shall not be merged into any judgment, decree or order which may be issued. NOW THEREFORE, FOR AND IN CONSIDERATION OF the mutual benefits and advantages accruing to each party, the undersigned do hereby solemnly covenant, agree and contract as follows: 1. PROPERTY SETTLEMENT : Husband and Wife are in possession of all personal property belonging to each, and neither makes any claim to any personal property in the possession of the other, except as stated below. Wife shall be entitled to the exclusive use, possession and title to the following assets: (a) _____________________________________________________________ (b) _____________________________________________________________ Husband shall be entitled to exclusive use, possession and title to the following assets: (a) _____________________________________________________________ (b) _____________________________________________________________ The Parties agree to the following additional provisions relating to property settlement: ______________________________________________________________________ ______________________________________________________________________ 2. DEBTS : Wife shall be responsible for her individual debts and Husband shall be responsible for his individual debts. The Parties further agree that the joint debts of the parties shall be paid as follows: - 2 - (a) Debt to _____________ in the approximate amount of $ _____________ shall be paid by _____________ and _____________ shall convey her/his interest same to _____________________ . (b) Debt to ________________________ in the approximate amount of $ _________________ shall be paid by ________________________ . 3. ALIMONY : Neither Party claims entitlement to alimony as they are not entitled to same and both Parties expressly waive any claim to alimony. 4. LEGAL REPRESENTATION DISCLOSURE : Each party agrees that neither party has been represented by an attorney in this matter and that both parties have had an opportunity to consult with any attorney of his/her choice. 5. FURTHER DOCUMENTS : Each party agrees that he or she will sign and execute any further or additional documents as may be necessary to put into effect the intended purposes hereof. 6. ENTIRE AGREEMENT : This Agreement constitutes the entire agreement between the parties and each party acknowledges that there are no further agreements not expressly included herein and that this Agreement may be modified, altered, or amended only in writing, duly signed and notarized by each in the form of this original. 7. FULLY READ AND UNDERSTAND : Each party represents and acknowledges that he or she has fully read this Agreement, consulted with each other, carefully considered same, and have signed and executed same after such consultation, and after consulting with their respective attorneys, that the signing of this Agreement is free and voluntary without force or collusion by either party or any third party, and that each party signed same with the full knowledge of said party's rights, obligations, and responsibilities. - 3 - 8. MODIFICATION : This Agreement shall estop and preclude either party from making other or further demands and claims upon the other, not included herein, except that such legal action may be taken by either party as is necessary to enforce or modify the terms and provisions hereof, except that the Property Settlement provision shall not be subject to modification. 9. SUBSEQUENT DIVORCE : It is agreed and understood that this Separation and Property Settlement Agreement shall be incorporated into a Final Decree of Dissolution of Marriage of the Parties in any divorce action between the parties. Further, that this Separation and Property Settlement Agreement finally settles all rights of the parties and the property jointly or individually owned by the parties, and that this Agreement, and the enforceability thereof, is not contingent upon either party or both parties being granted a divorce on any grounds. 10. CONTROLLING LAW : This Agreement shall be governed, enforced and interpreted according to the laws of the Commonwealth of Kentucky. 11. EFFECTIVE DATE: This Agreement shall not be enforceable until duly executed by both Parties. 12. HEIRS AND ASSIGNS: This Agreement shall be binding upon the heirs, administrators, estate and assigns of the parties. IN WITNESS WHEREOF, Co-Petitioner ____________________________ has executed this Agreement on the _____ day of _____________ , 20 ___ , and Co-Petitioner ________________________ has executed this Agreement on the _____ day of _____________ , 20 ___ . ____________________________________ Signature of Co-Petitioner - 4 - ____________________________________ Print Name: ____________________________________ Signature of Co-Petitioner ____________________________________ Print Name: Commonwealth of Kentucky County of _____________________ The foregoing instrument was acknowledged before me this _________________ (date) by ____________________________ and ____________________________ , Co-Petitioners. ______________________________ Notary Public Title (and Rank): _______________ Print Name: ___________________ (Seal, if any) My commission expires: ________________________ - 5 -