Legal Definitions - integrated property settlement

An integrated property settlement is a legal agreement that divides the assets and debts of divorcing spouses. It can be either a court judgment or a contract that is incorporated into a divorce decree. The purpose of the settlement is to determine the distribution of the marital property between the divorcing parties.

• John and Jane are getting a divorce. They have a house, a car, and some joint credit card debt. They agree to divide the assets and debts equally, and their agreement is incorporated into their divorce decree. This is an example of an integrated property settlement.
• Tom and Mary are getting a divorce. They cannot agree on how to divide their assets and debts, so they go to court. The judge makes a ruling on how to divide everything, including the house, the car, and the credit card debt. This is also an example of an integrated property settlement.

Both examples illustrate the definition of an integrated property settlement because they involve the division of assets and debts between divorcing spouses. In the first example, John and Jane come to an agreement on their own, while in the second example, the judge makes the decision for them. In both cases, the settlement is incorporated into the divorce decree, making it legally binding.