Marital Settlement Agreement (No Children)

MARITAL SETTLEMENT AGREEMENT (NO CHILDREN)

State of New Mexico

Table of Contents

1. Parties and Recitals
2. Jurisdictional Facts
3. Community and Separate Property Identification
4. Division of Real Property
5. Division of Personal Property
6. Division of Financial Accounts and Retirement
7. Allocation of Debts and Liabilities
8. Spousal Support / Alimony
9. Insurance Provisions
10. Tax Matters
11. Mutual Releases and Waivers
12. General Provisions
13. Execution and Acknowledgment

1. Parties and Recitals

This Marital Settlement Agreement ("Agreement") is entered into on [__/__/____] by and between:

Petitioner: [________________________________] ("Petitioner")
Date of Birth: [__/__/____]
Address: [________________________________]

Respondent: [________________________________] ("Respondent")
Date of Birth: [__/__/____]
Address: [________________________________]

RECITALS:

A. The parties were lawfully married on [__/__/____] in [________________________________] (city/county, state).

B. At least one party has been a domiciliary of the State of New Mexico for at least six (6) months immediately preceding the filing of this petition, satisfying jurisdictional requirements under NMSA § 40-4-5.

C. The parties are incompatible, and the marriage is irretrievably broken.

D. There are NO minor children born of or adopted during this marriage, and neither party is currently pregnant.

E. Both parties have made full and complete disclosure of all assets, debts, income, and financial obligations.

F. Both parties enter this Agreement voluntarily, without fraud, duress, or undue influence.

2. Jurisdictional Facts

The parties confirm that: (a) at least one party has been domiciled in New Mexico for six (6) months prior to filing; (b) the District Court of [________________________________] County, New Mexico has jurisdiction; and (c) the dissolution is sought on the ground of incompatibility.

3. Community and Separate Property Identification

3.1 Community Property: The parties identify the following as community property subject to equal division:
[________________________________]

3.2 Separate Property of Petitioner: The parties confirm that the following is the separate property of Petitioner and shall be confirmed to Petitioner:
[________________________________]

3.3 Separate Property of Respondent: The parties confirm that the following is the separate property of Respondent and shall be confirmed to Respondent:
[________________________________]

4. Division of Real Property

4.1 Marital Residence:
Property Address: [________________________________]
Legal Description: [________________________________]
Current Estimated Value: $[________________________________]
Outstanding Mortgage Balance: $[________________________________]
Equity: $[________________________________]
Character: ☐ Community Property ☐ Separate Property of [________________] ☐ Mixed

☐ The marital residence shall be awarded to [Petitioner / Respondent].
☐ The marital residence shall be listed for sale within [____] days, with net proceeds divided as follows: [________________________________].
☐ The party retaining the residence shall refinance the mortgage within [____] days to remove the other party's name.
☐ An equalizing payment of $[________] shall be made to the non-retaining spouse within [____] days.

4.2 Additional Real Property:
[________________________________]

5. Division of Personal Property

5.1 Personal property has been divided by mutual agreement. Each party shall retain all personal property currently in their possession unless otherwise specified herein.

5.2 Specific Items Awarded to Petitioner:
[________________________________]

5.3 Specific Items Awarded to Respondent:
[________________________________]

5.4 Motor Vehicles:

6. Division of Financial Accounts and Retirement

6.1 Bank Accounts:

6.2 Retirement / Pension Accounts:

☐ A Qualified Domestic Relations Order (QDRO) shall be prepared to effectuate the division of the following accounts: [________________________________].

6.3 Investment and Brokerage Accounts:
[________________________________]

7. Allocation of Debts and Liabilities

7.1 Each party shall assume and hold harmless the other party from the following debts:

Debts Assumed by Petitioner:

Debts Assumed by Respondent:

7.2 Each party shall indemnify and hold the other harmless from any liability arising from the debts they have assumed.

8. Spousal Support / Alimony

☐ No Alimony. Each party waives any claim for spousal support/alimony, now and in the future.

☐ Spousal Support Awarded. [Petitioner / Respondent] shall pay to [Petitioner / Respondent] the sum of $[________] per month, beginning [__/__/____] and continuing for a period of [____] months/years, or until the occurrence of any of the following:

• Death of either party
• Remarriage of the receiving party
• Further order of the court

☐ Transitional Support. [Petitioner / Respondent] shall pay to [Petitioner / Respondent] the sum of $[________] per month for [____] months to allow the recipient to obtain education, training, or employment.

☐ Lump-Sum Support. [Petitioner / Respondent] shall pay [Petitioner / Respondent] a lump sum of $[________] within [____] days of entry of the decree.

9. Insurance Provisions

9.1 Health Insurance:
☐ Each party shall be responsible for obtaining and maintaining their own health insurance upon entry of the final decree.
☐ [Petitioner / Respondent] shall maintain health insurance coverage for [Petitioner / Respondent] for a period of [____] months following entry of the decree.

9.2 Life Insurance:
☐ Not applicable.
☐ [Petitioner / Respondent] shall maintain a life insurance policy with a minimum death benefit of $[________] naming [Petitioner / Respondent] as beneficiary for the duration of any support obligation.

10. Tax Matters

10.1 Tax Returns for Current Year:
☐ The parties shall file a joint federal and state income tax return for the tax year [____] and shall divide any refund or liability as follows: [________________________________].
☐ Each party shall file separately for the tax year [____].

10.2 Prior Year Obligations: Each party shall be responsible for [____]% of any tax liability, penalties, or interest arising from jointly filed returns for the years [____] through [____].

10.3 Indemnification: Each party shall indemnify and hold the other harmless from any tax liability attributable to the indemnifying party's income or deductions.

11. Mutual Releases and Waivers

11.1 Except as expressly set forth in this Agreement, each party hereby releases the other from any and all claims, demands, obligations, and causes of action of any nature, known or unknown, arising out of the marital relationship.

11.2 Each party waives any right to share in the estate of the other, including but not limited to community property rights upon death, homestead rights, and family allowance rights under New Mexico law, except as specifically provided in this Agreement.

11.3 Each party shall execute any documents necessary to effectuate the transfers and releases contemplated by this Agreement within [____] days of execution.

12. General Provisions

12.1 Entire Agreement. This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations and understandings.

12.2 Modification. Property division provisions of this Agreement are not subject to modification. Spousal support provisions may be modified upon a showing of changed circumstances.

12.3 Undivided Property. Any community property not addressed in this Agreement or the final decree may be the subject of a subsequent petition under NMSA § 40-4-20.

12.4 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Mexico.

12.5 Severability. If any provision is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

12.6 Incorporation into Decree. The parties request that this Agreement be incorporated into and made part of the final Decree of Dissolution of Marriage.

12.7 Voluntary Execution. Each party acknowledges they have read this Agreement, understand its terms, and sign it voluntarily.

12.8 Legal Representation.
☐ Petitioner is represented by [________________________________].
☐ Petitioner is self-represented and has been advised to seek independent legal counsel.
☐ Respondent is represented by [________________________________].
☐ Respondent is self-represented and has been advised to seek independent legal counsel.

13. Execution and Acknowledgment

PETITIONER:

Signature: ________________________________
Printed Name: [________________________________]
Date: [__/__/____]

RESPONDENT:

Signature: ________________________________
Printed Name: [________________________________]
Date: [__/__/____]

STATE OF NEW MEXICO
County of [________________________________]

Before me, the undersigned notary public, on this [____] day of [________________], [____], personally appeared [________________________________] (Petitioner) and [________________________________] (Respondent), known to me or proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within instrument, and acknowledged to me that they executed the same in their authorized capacities and that by their signatures on the instrument the persons executed the instrument.

WITNESS my hand and official seal.

Notary Public: ________________________________
My Commission Expires: [__/__/____]

NEW MEXICO STATE NOTES:

• New Mexico is a community property state; community property is divided equally (NMSA § 40-4-7; § 40-3-8).
• Separate property includes pre-marriage assets, gifts, inheritances, and property designated as separate by written agreement (NMSA § 40-3-8).
• All property held during marriage is presumed community unless proven otherwise.
• Marriages of 20+ years trigger permanent court jurisdiction over spousal support.
• The court considers the appropriateness of life insurance to secure support payments (NMSA § 40-4-7).
• Any undivided community property may be addressed by later petition (NMSA § 40-4-20).
• Residency requirement: Six (6) months domicile in New Mexico (NMSA § 40-4-5).

Sources and References:

• NMSA § 40-4-7 — Spousal Support; Division of Property
• NMSA § 40-3-8 — Classes of Property (Community Property Act)
• NMSA § 40-4-20 — Failure to Divide Property
• New Mexico Courts — Divorce Self-Representation