MARITAL DISSOLUTION AND PROPERTY SETTLEMENT AGREEMENT

(Mississippi – Irreconcilable Differences)

TABLE OF CONTENTS

1. Document Header
2. Definitions
3. Operative Provisions
      3.1 Divorce and Grounds
      3.2 Property Division
      3.3 Debt Allocation
      3.4 Spousal Support (Alimony)
      3.5 Child Custody and Parenting Plan
      3.6 Child Support
      3.7 Insurance & Security for Obligations
      3.8 Income Tax Matters
4. Representations & Warranties
5. Covenants & Restrictions
6. Default & Remedies
7. Risk Allocation
8. Dispute Resolution
9. General Provisions
10. Execution Block
11. Exhibits & Schedules

1. DOCUMENT HEADER

This Marital Dissolution and Property Settlement Agreement (the “Agreement”) is entered into as of [EFFECTIVE DATE] (the “Effective Date”) by and between:

• [SPOUSE A FULL LEGAL NAME], residing at [ADDRESS] (“Spouse A”); and
• [SPOUSE B FULL LEGAL NAME], residing at [ADDRESS] (“Spouse B”).

(Each, a “Party” and together, the “Parties.”)

1.1 Recitals

A. The Parties were lawfully married on [MARRIAGE DATE] in [COUNTY, STATE].
B. Irreconcilable differences have arisen between the Parties, and they desire to dissolve their marriage pursuant to Mississippi law.
C. The Parties wish to resolve finally all issues related to their marriage—including property division, spousal support, child custody, and child support—without further litigation, except as expressly provided herein.
D. In consideration of the mutual covenants herein and other good and valuable consideration, the sufficiency of which is acknowledged, the Parties agree as follows.

[// GUIDANCE: Insert a separate “Corroborating Affidavit” if required by the local Chancery Court.]

2. DEFINITIONS

For purposes of this Agreement, the following capitalized terms shall have the meanings set forth below. Definitions apply equally to singular and plural forms.

“Adjusted Gross Income” or “AGI” – A Party’s gross income as defined under Mississippi child-support guidelines, net of mandatory deductions and allowable adjustments.

“Chancery Court” – The chancery court of competent jurisdiction within the State of Mississippi designated in Section 8.2.

“Child(ren)” – The minor child or children of the Parties: [LIST FULL NAMES AND DATES OF BIRTH].

“Custody” – The allocation of decision-making authority (“Legal Custody”) and residential time (“Physical Custody”) with the Child(ren).

“Equitable Distribution” – A fair, though not necessarily equal, division of Marital Property in accordance with Mississippi law.

“Marital Property” – All real or personal property, tangible or intangible, acquired jointly or individually by either Party from the date of marriage through the Cut-Off Date (defined below), except Separate Property.

“Separate Property” – Property owned by a Party prior to marriage, or acquired thereafter by gift, devise, or inheritance, and any appreciation thereon, not commingled with Marital Property.

“Cut-Off Date” – [INSERT DATE], after which assets or liabilities acquired by either Party shall be deemed Separate Property unless otherwise agreed.

“Parenting Plan” – The schedule and allocation of parental responsibilities set forth in Section 3.5 and Exhibit B.

“Support Obligations” – Child Support and Spousal Support, individually and collectively.

3. OPERATIVE PROVISIONS

3.1 Divorce and Grounds

3.1.1 The Parties shall jointly petition the Chancery Court for a final judgment of divorce on the ground of irreconcilable differences pursuant to Miss. Code Ann. § 93-5-2.
3.1.2 Each Party shall execute and deliver all pleadings, affidavits, and consents necessary to obtain the judgment of divorce consistent with this Agreement.

3.2 Property Division

3.2.1 Classification. Marital Property and Separate Property are preliminarily identified on Exhibit A.
3.2.2 Equitable Distribution. Marital Property shall be divided as follows:

a. Real Property:
i. [MARITAL RESIDENCE DESCRIPTION] shall be conveyed to [RECIPIENT PARTY], subject to refinancing or sale obligations in Section 3.2.3.
ii. [OTHER REAL PROPERTY] – see Exhibit A-2.

b. Personal Property: The tangible personal property listed in Exhibit A-3 shall be allocated as indicated therein.

c. Retirement & Investment Accounts: Division shall occur via Qualified Domestic Relations Orders (“QDROs”) or direct transfers per Section 3.2.4.

[// GUIDANCE: Attach separate asset schedules to avoid re-drafting the Agreement when values change.]

3.2.3 Real-Property Refinance/Sale. The receiving Party shall, within [X] days after Effective Date, (a) refinance the existing mortgage solely in that Party’s name, or (b) list the property for sale with a licensed broker. Net proceeds or deficit shall be shared [PERCENTAGE/PERCENTAGE].

3.2.4 Retirement Assets. Each Party shall cooperate in entering any QDRO or transfer documentation. Unless otherwise agreed, valuation shall be as of the Cut-Off Date.

3.2.5 Personal Property Exchange. Possession of divided personal property shall be completed no later than [DATE] at [LOCATION].

3.2.6 Equalization Payment. To achieve equitable distribution, [PAYING PARTY] shall pay [AMOUNT] to [RECEIVING PARTY] in [LUMP-SUM / INSTALLMENTS] per Section 3.2.7.

3.2.7 Default Interest. Any unpaid equalization payment shall accrue simple interest at [X]% per annum after a [10]-day grace period.

3.3 Debt Allocation

3.3.1 Marital Debts listed on Exhibit A-4 shall be assumed as allocated therein.
3.3.2 Indemnity. Each Party shall indemnify and hold the other harmless from any debt allocated to the indemnifying Party, subject to Section 7.1.

3.4 Spousal Support (Alimony)

3.4.1 Type. [PERIODIC / LUMP-SUM / REHABILITATIVE / REIMBURSEMENT] alimony is agreed as follows:
a. Amount: $[AMOUNT] per [MONTH].
b. Term: Payments commence [DATE] and terminate upon the first to occur of: (i) [TERM EXPIRATION]; (ii) remarriage of Recipient; (iii) cohabitation per Mississippi law; or (iv) death of either Party.
3.4.2 Modification. Spousal Support is [modifiable / non-modifiable] except upon mutual written consent or as otherwise provided by Mississippi law.
3.4.3 Security. Payor shall maintain life insurance under Section 3.7 in an amount equal to [12] months of support.

3.5 Child Custody and Parenting Plan

3.5.1 Legal Custody. The Parties shall share [JOINT / SOLE] legal custody.
3.5.2 Physical Custody & Parenting Schedule. As detailed in Exhibit B (Parenting Plan).
3.5.3 Holiday & Vacation Schedule. See Exhibit B-1.
3.5.4 Decision-Making Protocols. Material decisions in health, education, and religion require [mutual consent / primary decision-making by [PARTY]].
3.5.5 Relocation. Either Party relocating more than [75] miles shall provide [60] days’ prior written notice and comply with Mississippi statutory relocation procedures.
3.5.6 Dispute-Resolution for Parenting Issues. The Parties agree to attempt mediation before court intervention, except in emergencies.

3.6 Child Support

3.6.1 Guideline Compliance. Child Support shall be calculated under Mississippi guidelines (Miss. Code Ann. § 43-19-101 et seq.) based on Payor’s AGI.
3.6.2 Amount. As of the Effective Date, Payor’s AGI is $[AMOUNT], yielding support of $[AMOUNT] per month for [NUMBER] child(ren).
3.6.3 Health Insurance. [PARTY] shall maintain comprehensive health/dental insurance; unreimbursed medical expenses shall be allocated [PERCENTAGE/PERCENTAGE].
3.6.4 Adjustment. Support shall automatically adjust upon (a) statutory guideline amendments; or (b) AGI variation of 15% or more, with recalculation effective the following month.
3.6.5 College Expenses. The Parties [agree / do not agree] to share post-secondary educational expenses per Exhibit C.

3.7 Insurance & Security for Obligations

3.7.1 Life Insurance. Each Party shall maintain life insurance of not less than $[AMOUNT] with the other Party (or trustee for the Child[ren]) as irrevocable beneficiary until all Support Obligations terminate.
3.7.2 Proof. Annual proof of coverage shall be provided within [30] days of policy anniversary.

3.8 Income Tax Matters

3.8.1 Filing Status. For the tax year of divorce, the Parties [will file / have filed] [jointly / separately].
3.8.2 Dependency Exemptions & Credits. The Parties shall allocate dependency exemptions as follows: [DETAILS]. A Party receiving an exemption shall be current on Child Support at year-end.
3.8.3 Indemnity. Each Party shall indemnify the other from tax liabilities arising from that Party’s filings, per Section 7.1.

4. REPRESENTATIONS & WARRANTIES

4.1 Authority. Each Party has full legal capacity to enter this Agreement.
4.2 Full Disclosure. Each Party warrants that all assets, liabilities, and income have been fully disclosed.
4.3 Reliance. Each Party enters into this Agreement in reliance upon the other Party’s warranties herein.
4.4 Survival. The representations and warranties in this Section 4 shall survive the divorce decree and remain in effect until fully performed.

5. COVENANTS & RESTRICTIONS

5.1 Non-Dissipation. Neither Party shall knowingly dissipate, conceal, or encumber assets allocated to the other.
5.2 Confidentiality. Except as required by law or court order, neither Party shall disclose non-public personal or financial information of the other Party.
5.3 Notice of Material Change. A Party shall give the other Party written notice within [10] days of any material change affecting this Agreement, e.g., job loss, major illness, or relocation.
5.4 Mutual Restraining Order. The Parties shall refrain from harassing, threatening, or physically abusing each other. Either Party may seek injunctive relief for violations.

6. DEFAULT & REMEDIES

6.1 Events of Default. A Party’s failure to perform any material obligation after written notice and a [10]-day cure period constitutes a default.
6.2 Remedies. Upon default, the non-defaulting Party may seek:
a. Contempt sanctions;
b. Money judgments with statutory interest;
c. Specific performance; and
d. Reasonable attorney’s fees and costs as prevailing party.
6.3 Cumulative. Remedies are cumulative and not exclusive.

7. RISK ALLOCATION

7.1 Mutual Indemnification

Each Party (“Indemnifying Party”) shall indemnify, defend, and hold harmless the other Party (“Indemnified Party”) from any claims, debts, taxes, or obligations expressly assumed by the Indemnifying Party under this Agreement.

7.2 Limitation of Liability

The aggregate liability of either Party for monetary damages under this Agreement shall not exceed the value of that Party’s allocated Marital Property (the “Liability Cap”), except for (a) intentional misconduct, (b) fraud, or (c) child-support obligations, which are uncapped.

7.3 Force Majeure

Performance is excused to the extent prevented by acts beyond the affected Party’s reasonable control (e.g., natural disasters, war, governmental actions), provided the Party gives prompt notice and resumes performance as soon as practicable.

8. DISPUTE RESOLUTION

8.1 Governing Law

This Agreement shall be governed by, and construed in accordance with, the domestic relations and contract laws of the State of Mississippi, without regard to conflict-of-laws principles.

8.2 Forum Selection

Exclusive jurisdiction and venue for any judicial proceeding shall lie in the [NAME OF COUNTY] Chancery Court, State of Mississippi (“Designated Court”).

8.3 Arbitration (Property-Only)

8.3.1 Scope. Upon mutual written consent, any dispute arising solely from property division or interpretation of Sections 3.2 or 3.3 may be submitted to binding arbitration under the Mississippi Arbitration Act.
8.3.2 Exclusions. Issues involving child custody, visitation, or child support are non-arbitrable.
8.3.3 Procedure. Unless the Parties agree otherwise, arbitration shall be conducted by a single arbitrator with at least five years of family-law experience. The arbitrator’s award may be confirmed in the Designated Court.

8.4 Injunctive Relief

Nothing in this Section 8 limits either Party’s right to seek temporary restraining orders, preliminary injunctions, or similar emergency relief from the Designated Court.

9. GENERAL PROVISIONS

9.1 Amendment; Waiver. No amendment or waiver is effective unless in a writing signed by both Parties. A waiver on one occasion is not a waiver of any future breach.
9.2 Assignment. Personal rights and obligations hereunder are non-assignable, except as to property interests conveyed herein.
9.3 Successors & Assigns. This Agreement binds and benefits the Parties and their respective heirs, executors, administrators, and permitted assigns.
9.4 Severability. If any provision is held invalid, the remaining provisions shall remain in full force, and the Designated Court is empowered to reform the invalid provision to reflect the Parties’ intent.
9.5 Integration. This Agreement, including Exhibits and Schedules, constitutes the entire understanding between the Parties, superseding all prior agreements, written or oral.
9.6 Headings. Section headings are for convenience only and do not affect interpretation.
9.7 Counterparts; Electronic Signatures. The Agreement may be executed in counterparts, each of which is deemed an original, and all of which constitute one instrument. Signatures transmitted electronically (e.g., PDF, DocuSign) are effective.

10. EXECUTION BLOCK

IN WITNESS WHEREOF, the Parties execute this Agreement as of the Effective Date.

NOTARY ACKNOWLEDGMENT

State of Mississippi
County of [__]

On this _ day of _, 20__, before me, the undersigned Notary Public, personally appeared [Spouse A] / [Spouse B], known to me or satisfactorily proven to be the person whose name is subscribed to the foregoing instrument, and acknowledged that he/she executed the same for the purposes therein contained.

Notary Public
My Commission Expires: ______

[// GUIDANCE: Mississippi does not mandate witnesses, but some chancery judges prefer them; insert witness lines if local practice so dictates.]

11. EXHIBITS & SCHEDULES

Exhibit A – Property & Debt Schedules
  • Exhibit A-1 Marital Property Valuation
  • Exhibit A-2 Real Property Legal Descriptions
  • Exhibit A-3 Personal Property Allocation
  • Exhibit A-4 Marital Debt Allocation

Exhibit B – Parenting Plan
  • Exhibit B-1 Holiday & Vacation Schedule

Exhibit C – College Expense Provision (if applicable)

[// GUIDANCE: 1) Review local chancery court procedural rules for any additional affidavits or parenting-class certificates. 2) Update statutory references and guideline percentages annually. 3) Confirm life-insurance policy ownership changes promptly.]

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