If a couple have an agreement of division of properties and assets that is signed by both parties and notarized, is it a legal and binding?

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If a couple have an agreement of division of properties and assets that is signed by both parties and notarized, is it a legal and binding?

Asked on September 26, 2011 under Family Law, Alabama

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

Theoretically, yes, it should be binding.  An agreement regarding the division of assets is a binding contract.  But I say that with a grain of salt.   There are so many issues here with regard to divorce matters like full disclosure required by both parties and the possible mis-characterization of assets (separate and marital) or many, many other issues that can pop up.  So that if the agreement has not ben reviewed by an attorney, and if you have not been advised of your rights under the law, then I think that you would be doing yourself a dis-service by not having it looked at just to be sure.  And your spouse as well- by a different attorney - just to be sure. Good luck.


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