Relationship Settlement Agreement

I. Introduction

This Relationship Settlement Agreement ("Agreement") is entered into as of [DATE] by and between [YOUR NAME] ("PARTY A") and [PARTNER'S NAME] ("PARTY B"). The purpose of this Agreement is to establish mutually agreed terms for the termination of their shared interests and responsibilities.

II. Definitions

For purposes of this Agreement, the following terms are defined as follows:

Shared Property: any property, either physical or intellectual, that was acquired jointly by both parties during the term of their relationship.

Separate Property: any property that was owned individually by either party prior to the relationship or acquired by inheritances or gifts.

Financial Obligations: all debts and financial duties that were incurred jointly or individually by each party.

III. Terms of Settlement

The parties agree to the following terms to settle all mutual claims:

Division of Shared Property:

Item A will be retained by [YOUR NAME].
Item B will be retained by [PARTNER'S NAME].

Assumption of Financial Obligations:

Each party will be responsible for [X]% of the total mutual debt as detailed in Appendix A.
Each party will maintain individual responsibility for any personal debts.

Living Arrangements:

Both parties agree that [YOUR NAME] will continue to reside at [PRIMARY RESIDENCE ADDRESS], while [PARTNER'S NAME] will move to [NEW RESIDENCE ADDRESS].

Disposition of Joint Accounts:

All joint bank accounts will be closed and the remaining balances will be equally divided between the parties as of [EFFECTIVE CLOSING DATE].
Each party will retain sole ownership over their respective personal accounts.

IV. Conflicts Resolution

In the event of a dispute arising out of this Agreement, parties will endeavor first to settle the conflict amicably through mutual negotiations. If unresolved, the conflict may be escalated to mediation before entering into litigation.

V. Child Custody (if applicable)

In the event of children from the relationship, custody arrangements will be as follows:

Legal Custody: [JOINT/SOLE] legal custody shall be granted, with [YOUR NAME/PARTNER'S NAME] having the final decision-making authority on major issues.

Physical Custody: [PRIMARY PHYSICAL CUSTODY/SHARED PHYSICAL CUSTODY] will be awarded to [YOUR NAME/PARTNER'S NAME].

Visitation Schedule: The non-custodial parent will have visitation rights as follows: [DETAILS].

Communication: Both parties shall have reasonable communication rights with the child(ren) via [METHODS], considering the child(ren)'s schedule.