Summary Dissolution Property Agreement Template

This Summary Dissolution Property Agreement (the “Agreement”) is made as of [Effective Date] by and between:

Spouse 1: [Full Legal Name], address: [Address] (“Spouse 1”)
Spouse 2: [Full Legal Name], address: [Address] (“Spouse 2”)

Marriage Date: [Date]
Separation Date (Optional): [Date]
Case/Court (Optional): [Court/County], Case No.: [__]

1. Purpose and Intended Use

1.1 The spouses intend to use this Agreement as part of a summary dissolution (simplified divorce) process, where permitted.
1.2 This Agreement is intended to be: ☐ final and binding upon signature ☐ subject to court approval (if required).

2. Disclosures

2.1 Each spouse represents they have disclosed all material assets and debts to the other to the best of their knowledge.
2.2 Each spouse had the opportunity to seek independent legal advice.

3. Property Division (Assets)

3.1 General Rule (Optional):
☐ Each spouse keeps the personal property currently in their possession, except as listed below.
☐ Property is divided only as listed below.

3.2 Real Estate (Select One):
☐ None
☐ Real estate will be handled as follows: [Address, title transfer steps, refinance/sale timeline, deed type].

3.3 Vehicles (List):

• Vehicle: [Year/Make/Model/VIN last 6] → Awarded to: ☐ Spouse 1 ☐ Spouse 2
  Loan responsibility: ☐ Spouse 1 ☐ Spouse 2 ☐ shared (terms)

3.4 Bank Accounts/Cash:

• Account: [Bank + last 4] → Awarded to: ☐ Spouse 1 ☐ Spouse 2

• Cash on hand division: [Terms]

3.5 Retirement Accounts:

• Plan: [401(k)/pension], holder: [] → Division: [] (QDRO if required)

• IRA: [] → Division: [] (transfer incident to divorce if applicable)

3.6 Personal Property (Major Items):

• Item: [__] → ☐ Spouse 1 ☐ Spouse 2

• Item: [__] → ☐ Spouse 1 ☐ Spouse 2

3.7 Business Interests (If Any):

• [Business/interest] → Awarded to: ☐ Spouse 1 ☐ Spouse 2
  Buyout/payment terms (if any): [__]

3.8 Pets (Optional):

• Pet: [Name/type] → Primary care: ☐ Spouse 1 ☐ Spouse 2
  Expenses/visitation (optional): [__]

3.9 Tax Refunds (Optional):

• Refunds for tax year [__]: [Split terms]

• Tax liabilities: [Allocation]

4. Debt Division (Liabilities)

4.1 Credit Cards:

• Creditor: [__] last 4 [____] → Paid by: ☐ Spouse 1 ☐ Spouse 2 ☐ shared

4.2 Loans:

• Auto loan: [__] → Paid by: [Spouse]

• Student loan: [__] → Paid by: [Spouse]

• Personal loan: [__] → Paid by: [Spouse]

4.3 Other Debts: Taxes owed: [] | Medical bills: [] | Other: [List].

4.4 Each spouse will hold the other harmless from the debts assigned to them, to the extent permitted by law.

5. Transfers and Deadlines

5.1 Each spouse will complete transfers (titles, account changes, property handoff) by: [Date].
5.2 Each spouse will cooperate in signing paperwork needed to implement this Agreement.

6. Waiver of Further Claims

6.1 Except as required by law, each spouse waives further claims to the other’s property, income, and retirement benefits, consistent with this Agreement.

7. Governing Law

7.1 This Agreement is governed by the laws of [State/Country].

Signatures

Spouse 1: [Full Name]
Date: [Date]
Signature: ___________________________

Spouse 2: [Full Name]
Date: [Date]
Signature: ___________________________

Witnesses (If Required)

Witness Name: [Name]
Date: [Date]
Signature: ___________________________

Notary / Notarization (If Required)

State of [State]
County of [County]

On [Date], before me, [Notary Name], personally appeared [Spouse 1 Full Name] and [Spouse 2 Full Name], known to me (or satisfactorily proven) to be the persons whose names are subscribed to this Agreement, and acknowledged that they executed it for the purposes stated.

Notary Public Signature: _______________________
My Commission Expires: _______________________
Notary Seal (if applicable): ___________________