Marital Legal Separation and Property Settlement Agreement

MARITAL SEPARATION AND PROPERTY SETTLEMENT AGREEMENT WITH NO DEPENDENT OR MINOR CHILD(REN)

CO-DO-2

INSTRUCTIONS

When should this form be used?

This form should be used when the parties desire to enter into a Separation Agreement in contemplation of an action for dissolution of marriage, which has been filed or will be filed prior to the effective date of this Agreement. This form is for married persons with no children with joint property or debts. This form is for the State of Colorado.

This form should be completed on your computer, typed or printed in black ink. Both parties must sign the Agreement and have their signatures witnessed by a notary public. You may desire to print and sign duplicate originals so that both parties will have a signed original of the document.

DISTRICT COURT, COUNTY, COLORADO

Case No. , Div./Ctrm

MARITAL SEPARATION AND PROPERTY SETTLEMENT AGREEMENT

WITH NO DEPENDENT OR MINOR CHILD(REN)

In Re the Marriage of:

Petitioner Respondent

NOTICE: THIS IS AN IMPORTANT LEGAL AGREEMENT AND HAS SUBSTANTIAL LEGAL CONSEQUENCES ON YOU, YOUR RIGHTS AND OBLIGATIONS. YOU ARE ADVISED TO CONSULT AN ATTORNEY FOR INDEPENDENT LEGAL ADVICE PRIOR TO EXECUTION OF THIS AGREEMENT.

STATE OF COLORADO

COUNTY OF

WHEREAS, (full legal name), hereinafter referred to as "Wife", and (full legal name), hereinafter referred to as "Husband", are now married, having been married on the day of , , in County, ; and

WHEREAS, the parties were separated on or about the day of , 20, while residing in County, , and since that date have been living separate and apart; and

WHEREAS, differences have arisen between the parties that have resulted in the marriage being irretrievably broken and there is no chance of staying together. The parties make this Agreement to settle once and for all that the parties owe to each other and what the parties can expect to receive from each other; and

Husband Initials: Wife Initials:

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, the parties agree to execute and exchange any papers that might be needed to complete this Agreement, including deeds, title certificates, bills of sale, etc.; and

WHEREAS, the parties intend that this Agreement shall be binding and effective subject to approval by the Court in that certain action pending in the District Court, County, Colorado, Cause Number , which is a divorce action involving Husband and Wife.

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 set forth above and below and being sworn, certify that the all statements contained herein are true and correct:

SECTION 1.

SEPARATION; RELINQUISHMENT OF MARITAL RIGHTS

The parties shall continue to live separate and apart, free from interference, authority and control by the other, as if each were sole and unmarried, and each may conduct, carry on and engage in any employment, business or trade which each shall seem advisable for their sole and separate use and benefit, without, and free from any control, restraint or interference by the other party in all respects as if each were unmarried. Neither of the parties shall molest or annoy the other or seek to compel the other to cohabit or dwell with the other by any proceedings for restoration of conjugal rights or otherwise, or exert or demand any right to reside in the home of the other, if any.

SECTION 2.

FINANCIAL DISCLOSURES

By execution of this instrument, each party warrants and represents to the other party that he or she has fully disclosed their financial status, including their assets and liabilities of all types and agree that the terms of this Agreement are fair, just, and equitable after consideration of the financial status of the parties.

SECTION 3.

ASSETS

A. In General. 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 otherwise stated in this Agreement. The parties agree to divide their assets (everything they own and that is owed to parties) as provided below. Any personal item(s) not listed below is the property of the party currently in possession of the item(s). Each party shall retain as his or her own all of their personal clothing, jewelry and effects.

B. Wife shall receive as her own and Husband shall have no further rights or responsibilities regarding these assets:

C. Husband shall receive as his own and Wife shall have no further rights or responsibilities regarding these assets:

D. Contingent Assets and Liabilities shall be divided as follows:

E. Additional Retirement Account Provisions. The parties represent that all retirement and pension types of accounts have been disclosed and agree to the following division of same:

F. Additional Life Insurance Provisions. The parties agree in reference to their respective life insurance policies the following (indicate policies, owner, beneficiary):

G. Additional Household Furnishing and Effects Provisions. (Select as appropriate)

The household furnishings and effects of the parties have been mutually divided by the parties and neither makes claim to any such property in the possession of the other except as provided above.

Wife agrees that the Husband shall retain all of the household furnishings and effects presently located on the premises at , excepting those items already removed by the Wife, or to be removed, with the Husband’s permission, except as listed and provided above.

Husband agrees that the Wife shall retain all of the household furnishings and effects presently located on the premises at , excepting those items already removed by the Husband, or to be removed, with the Wife's permission, and except listed and provided above.

H. Additional Marital Home Provisions.

The marital home of the parties shall be:

i) Occupied by ( ) Husband ( ) Wife.

ii) Titled in the name of ( ) Husband ( ) Wife.

The expenses of the marital home are and shall be paid as follows:

i) ( ) Wife ( ) Husband shall pay the mortgage payments. This obligation terminates .

ii) ( ) Wife ( ) Husband shall pay the utilities and other expenses in connection with the upkeep and maintenance of the home. This obligation terminates .

iii) ( ) Wife ( ) Husband shall pay all taxes, insurance and assessments. This obligation terminates .

I. Additional Provisions or explanations:

SECTION 4.

DEBTS, LIABILITIES AND EXPENSES

A. Except as otherwise provided herein each party agrees to pay their respective individual debts.

B. Division of Liabilities/Debts. The parties divide their liabilities (everything they owe) as follows:

Wife shall pay as her own the following and will not at any time ask Husband to pay these debts/bills:

C. Husband shall pay as his own the following and will not at any time ask Wife to pay these debts/bills:

SECTION 5.

FUTURE EARNINGS AND ACQUISITIONS

All income, earnings, or other property received or acquired by either party to this Agreement on or after the date of execution of this Agreement shall be the sole and separate property of the receiving or acquiring party.

SECTION 6.

SPOUSAL SUPPORT (ALIMONY)

1. In consideration of the provisions contained herein for the respective benefits of the parties and other good and valuable considerations, the parties hereto mutually waive any and all claim or right to temporary or permanent alimony, maintenance or support, whether past, present or future.

2. ( ) Husband ( ) Wife agrees to pay spousal support (alimony) in the amount of $ every ( ) week ( ) other week ( ) month, beginning and continuing until .

Explain type of alimony (temporary, permanent, rehabilitative, and/or lump sum) and any other specifics:

Life insurance in the amount of $ to secure the above support, will be provided by the obligor.

SECTION 7.

MUTUAL INDEMNITY

The parties agree in regard to the payment of debts and other liabilities as stated in this that each shall indemnify and hold harmless the other for the payment of same.

SECTION 8.

INCOME TAXES

The parties shall file separately for the year and each year thereafter.

Husband / Wife shall be allowed not allowed to claim the alimony paid hereunder as a deduction for income tax purposes.

SECTION 9.

ADDITIONAL OR FURTHER DOCUMENTS; COOPERATION

Based on the division of property as set out above, the additional documents required include, but are not limited to the following:

SECTION 10.

DIVORCE

This Agreement shall be incorporated into judgment of the District Court, County, Colorado, Cause Number .

SECTION 11.

MODIFICATION

This Agreement shall stop 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.

SECTION 12.

ABSENCE OF DURESS OR UNDUE INFLUENCE

The parties agree and state that each has freely and voluntarily entered into this Agreement.

SECTION 13.

RELEASE, WAIVER, BINDING EFFECT, AND ESTATES

The parties shall refrain from, release and relinquish any and all claims that he or she may have had, may now have, or may hereafter acquire to share in any capacity or to any extent whatsoever, in the estate of the other.

SECTION 14.

ENFORCEMENT

This Agreement may be enforced by actions and proceedings for Contempt of Court, or attachment and garnishment, for specific performance, or any other remedy legally available to either Husband or Wife, for the enforcement of the provisions and covenants of this Agreement.

SECTION 15.

BANKRUPTCY

If any obligation contained herein is discharged in bankruptcy and the non-bankrupt party is held liable for said debt, the non-bankrupt party shall have the right to petition a court of competent jurisdiction for spousal support in an amount sufficient to cover any amounts so discharged.

SECTION 16.

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.

SECTION 17.

FULLY READ AND UNDERSTAND; INFORMED CONSENT

Each party represents and acknowledges that he or she has fully read this Agreement and has had a reasonable opportunity to consult with an attorney of their choice.

SECTION 18.

SEVERABILITY

If any portion of the Agreement shall be held to be void, voidable or unenforceable for any reason, then all the remaining parts or portions shall be construed, implemented and administered as if such void, voidable or unenforceable portion did not appear herein.

SECTION 19.

CONTROLLING LAW

This Agreement shall be governed, enforced and interpreted according to the laws of the State of Colorado.

SECTION 20.

EFFECTIVE DATE; HEIRS AND ASSIGNS

This Agreement shall be binding upon the parties and their legal representatives, successor, heirs and assigns, subject only to approval by the Court in which divorce proceedings are instituted or pending.

EXECUTED AND AGREED ON THE DATES SET FORTH BELOW. I certify that I have been open and honest in entering into this Settlement Agreement. I am satisfied with this Agreement and intend to be bound by it.

Husband Initials:    Wife Initials: