Divorce Settlement Agreement Sample Ontario

Only the spousal and child support portions of this Agreement may be amended if the parties` current financial circumstances change materially, whether or not such a change is foreseeable. Without limiting the generality of the foregoing, a material change in the income of the wife or husband, the needs of the children, the loss of employment by one of the parties, the change in the state of health of the parties, the resignation of one of the parties or any other foreseeable or unforeseeable circumstance that significantly alters the existing or future financial situation of the parties, form the basis of a request for derogation. The Parties expressly agree that the remarriage or cohabitation of the wife or husband may be grounds for requesting a modification of the maintenance provisions of this Agreement, whether or not the remarriage or unforeseeable remarriage has been. The Parties also agree that child support shall cease in accordance with the terms of this Agreement. The parties acknowledge that the wife may apply for a change in spousal support at that time, even if the cessation of child support was a foreseeable event. (Marital Home-Joint Rental -Limited Exclusive Property) 28. MATRIMONIAL HOUSING (1) The husband and wife hold and will continue to co-own the conjugal dwelling known in common as_______________ (home address), which is a conjugal dwelling within the meaning of the Family Law Act. (2) The wife shall have exclusive possession of the matrimonial home until one of the following conditions occurs: (i) the wife wishes to sell the matrimonial home; (ii) the woman remarries or lives with another man; (iii) the wife is no longer domiciled in the marital home; (iiii) the wife intentionally defaults on payment of the mortgage; at this time, the marital apartment is offered for sale. (3) Until the sale of the marital home: (i) the wife shall pay all insurance premiums, mortgage payments, taxes and other expenses related to the matrimonial home and shall indemnify the husband for any liability related to the matrimonial home; (ii) the husband and wife pay equal shares for the cost of all repairs in excess of $[e.B $250.00], provided that the wife does not perform such repairs without obtaining the consent of the husband, whose consent is not unreasonably withheld; (iii) if the husband fails to pay his or her share of the reparations, he shall be deemed to be in breach of this Agreement and damages for such breach shall be awarded at half of the costs of the remedy; (iv) the husband will participate in the refinancing of all mortgages due during the period of exclusive possession of the wife. (4) In the case of the sale of the matrimonial dwelling, the proceeds shall be used as follows and in the following order: (i) for real estate commissions, attorneys` fees related to the sale and all other costs of the sale; (ii) the fees, charges and privileges incurred jointly by the husband and wife before or after the date of this Agreement; and (iii) pay the balance as follows: (iv) at wife____ per cent; (v) husband____ per cent. (5) If the parties are unable to agree on the terms of sale, both may, in accordance with applicable law, bring an action before the court for a ruling. There are divorce settlement kits that claim to provide legal clauses that can be customized to suit your situation.

But in reality, there is no one-size-fits-all good solution for all divorce agreements. DIVORCE (1) Immediately after the conclusion of this contract, the husband/wife initiates divorce proceedings on the grounds that the marriage has broken for a period of more than one year due to the separation of the parties. They will proceed quickly to obtain a divorce. The husband/wife will participate in the divorce proceedings. The husband/wife alone bears the costs of the undefended divorce. Subsidiary clause (2) The parties share the costs of the divorce equally. 42. PRECEDENCE AGREEMENT This Agreement shall prevail over all matters provided for: (i) in the Family Law Act, the Divorce Act, the Estate Law Reform Act or any other relevant law of Ontario or any other jurisdiction; and (ii) any subsequent internal contract between either Party and another person, if provided for in this Agreement. 11pm JOINT PREPARATION OF THE AGREEMENT Each Party has participated personally and/or through its lawyer in the preparation of this Agreement. It should be interpreted as if the parties were co-authors, and it should not be interpreted against any party as if that party or that party`s lawyer were the sole or primary cause of the agreement.

44. GOVERNING LAW The applicable law of this Agreement is the law of Ontario. 45. SEVERABILITY Unless otherwise stated, all terms of this Agreement shall be severable and shall survive the invalidity of any other provision of this Agreement. 46. GENERAL (1) Husband and wife shall each issue all documents necessary for the implementation of the terms and intentions of this Agreement. (2) There are no representations, sub-agreements, warranties or conditions that affect this Agreement. (3) This Agreement may be modified and evidenced only by another written agreement.

(4) If a provision of a law of a jurisdiction invalidates or supersedes this Agreement or its amendments as a domestic contract, the parties intend that a provision of this Agreement or any amendment thereto be construed as a separate contract under general contract law and enforceable as such. . . .