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All About Property Settlement Agreements in Virginia
Separation Agreements (also called martial settlement agreements, property separation agreements, property settlement agreements, PSAs, MSAs, etc., etc.) are a way for parties to determine all of most of the issues to be considered when divorcing, before they actually file for divorce. Issues that can be governed by a property settlement agreement include, but are in no way limited to:
The benefits of having an agreement are numerous, with the chief among them being that the parties decide rather than the judge.
In addition to the security and stability benefits from a property settlement agreement, signing one will also reduce the waiting period from 12 months to 6 months if the parties have no minor children and are seeking a divorce on separation grounds.
One of the parties must be a resident and domiciliary of Virginia for at least six months preceding the filing for divorce. If the courts finds that they do not have jurisdiction over the case, they may eventually dismiss it.
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