This agreement that is to be entered into between a husband and a wife who intend to
dissolve their marital relationship, sets out the terms of their agreement relating to the
dissolution of their marriage, the division of marital assets/debts and child custody. This
document should be used when a husband and wife are going through a divorce and
come to an agreement on the certain major issues. It contains standard provisions and
can be customized to reflect the specific agreement of the parties.
AGREEMENT AND MUTUAL RELEASE
THIS AGREEMENT (the “Agreement”), is made this ____ day of ________, 2____, by
and between ___________________ (the “Husband”) and ______________ (the “Wife”),
hereinafter collectively referred to as (the “Parties”).
WHEREAS the Parties have been separated and have been living apart from each other
since on or about the _____ day of _______________, 2____.
AND WHEREAS the Parties have negotiated and resolved all of matters relating to the
dissolution of their marriage and wish to enter into this Agreement to set out all of the settlement
provisions as agreed between themselves.
NOW THEREFORE, it is agreed that in consideration of the mutual promises,
agreements and undertakings contained in this agreement, the Parties hereby acknowledge and
agree as follows:
1. The matrimonial home (the “Home”) of the Parties, located at
______________________ shall be immediately listed for sale by _________________
(husband/wife) for the asking price of ______________ ($_____) Dollars. [Insert whether on
party or both Parties will be responsible for agreeing on the terms and conditions of the sale,
including the purchase price]. Any and all proceeds from the sale of the Home shall be equally
divided between the Parties after all mortgages, liens, debts and encumbrances relating to the
Home have been paid in full. A complete list of all morgages, liens, debts, and encumbrances is
annexed hereto as Schedule “A”.
2. The contents of the Home shall be divided equally between the Parties in accordance with
Schedule “B” annexed hereto.
3. The Parties shall each of joint physical and legal custody of the minor children known as
_____________ and _________________ and the principal place of residence of such minor
children shall be ____________________. The Parties shall exercise the access schedule in
respect of the minor children which is annexed hereto as Schedule “C” which shall be subject to
amendments upon the written agreement of the Parties. The Parties shall each bear equal
responsibility for all expenses of education, medical insurance, healthcare, clothing, and all
personal needs of the minor children until the minor children reach the age of eighteen (18).
[Instruction: The Parties may agree as to which party will bear the responsibility for
providing health insurance, subject to reimbursement by the other party. Life insurance is
another issue which may be agreed upon by the Parties, which shall benefit the minor
children in the event of the death of either party prior to the minor children reaching the age
of eighteen (18). Include whether either party may be entitled to remove the minor children
from the State of California without the consent of the other party].
4. The Parties each acknowledge and agree with the other than neither one of them shall
incur any debts or liabilities in the name of or on behalf of the other and the Parties each hereby
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agreement to indemnify and hold harmless the other from any breach of the terms, conditions or
provisions of this Agreement.
5. The Husband shall retain the motor vehicle _______________ with VIN#
_____________ and the Wife shall retain the motor vehicle _________________ with VIN #
_____________. Each party shall each be responsible for all costs, expenses and debts
associated with each of the respective motor vehicles each shall retain and shall release and
forever discharge the other from any and all debts or liabilities in respect to the motor vehicle
each of them retains.
6. The Parties have each obtained independent legal advice in respect to the entering into of
this Agreement and each fully understand the effects of executing this Agreement. The Parties
each agree that this Agreement represents the negotiations and settlement agreement between
them and are executing this Agreement of their own free will.
7. The Parties each waives and renounces the right to share in the estate of the other upon
the death of the other and shall fully release any and all claims to the estate of the other.
8. In the event either party fails to perform their obligations under this Agreement and any
other party seeks to or obtains judicial assistance in enforcing such obligations, the party against
whom the provisions are sought to be enforced shall pay, in addition to any damages, attorneys
fees and related costs of enforcement if the party seeking enforcement is successful in obtaining
the relief which he or she seeks in such judicial action.
9. The Parties each agree that they shall bear their own costs, expenses and attorney fees
incurred in connection with the preparation and execution of this Agreement.
10. This Release shall be governed by the laws of the State of California. Both Parties
acknowledge that they understand that Section 1542 of the California Civil Code presently
“A general release does not extend to the claims which a creditor does not know or
suspect to exist in his or her favor at the time of executing the release, which if known by
him or her must have materially affected his or her settlement with the debtor.”
It is expressly understood and agreed by the parties that one of the principal purposes of
this Release is to put to rest forever every claim or controversy which could ever exist
between the parties based on any event or occurrence (or non-occurrence) up, through,
and including the date hereof, even if the same has not yet been, or could not yet have
been, discovered or ascertained by the Releasor. Therefore, each party hereby knowingly
assumes the risk of other or different facts being hereinafter discovered, and agrees that
the provisions of Section 1542 (and any other or similar provision of the common or
statutory law of any state of the United States) are hereby expressly waived by the parties,
and each of them, it being agreed this Release shall be a full and final settlement between
them. Each party recognizes that this waiver is an essential and material provision of this
Release, without which it would not have been executed.
11. The Parties further acknowledge that it may be necessary to obtain approval of this
Agreement, and all or a portion of the terms contained herein by the court or judge that has
jurisdiction of the dissolution of marriage. In said case, the Agreement and all of a portion of the
terms contained herein may not be enforceable without said approval.
12. This Agreement shall be governed in accordance with the laws of the State of California
applicable therein and as amended from time to time.
IN WITNESS WHEREOF the parties hereto have duly executed this Agreement as of the
day and year first written above.
[Instruction: This Agreement should be inclusive of all debts, obligations, and division of all
assets of the Parties, including bank and savings accounts, retirement accounts, securities
and/or brokerage accounts, assets of owned businesses including good will, all real estate.
Additional provisions and schedules should be added to reflect these agreements.]