Property Settlement
The final division and distribution of marital assets and debts between divorcing spouses.
Example
The property settlement gave her the house and him the retirement accounts.
Canadian Equivalent
In Canada, this is referred to as Equalization Payment (ON) / Family Property Division (AB, BC) / Separation Agreement.
Jurisdiction Variations
VIRGINIA
Property Settlement Agreement
Virginia's standard term for the comprehensive divorce agreement
Related Terms
marital-settlement-agreementequitable-distributioncommunity-property