A divorce settlement agreement in South Africa is a legally binding document that outlines the terms agreed upon by both parties regarding the division of assets, child custody, maintenance, and other relevant matters. Below is an example of a typical divorce settlement agreement to give you an idea of its structure:
Divorce Settlement Agreement Example – South Africa
Between:
- [Name of Spouse A], Identity Number: [ID Number], hereinafter referred to as the Plaintiff
- [Name of Spouse B], Identity Number: [ID Number], hereinafter referred to as the Defendant
WHEREAS:
- The Plaintiff and Defendant were married on [Date of Marriage] under the [Marital Regime] (e.g. in community of property or out of community of property with/without accrual).
- Irreconcilable differences have led to the breakdown of the marriage, and both parties wish to resolve their divorce amicably.
NOW THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1. Division of Assets and Liabilities
1.1 The Plaintiff and Defendant agree to the following division of assets:
- The Plaintiff shall retain ownership of [Specify Property, e.g. House, Vehicles, Investments].
- The Defendant shall retain ownership of [Specify Property].
- Joint assets, such as [Specify Shared Property, e.g. a house or business], shall be sold, and the proceeds will be split 50/50 between both parties, after settling any outstanding liabilities.
1.2 Liabilities:
- The Plaintiff shall take responsibility for [Specify Debts or Liabilities].
- The Defendant shall take responsibility for [Specify Debts or Liabilities].
2. Child Custody and Visitation
2.1 The parties agree that [Name of Children] will reside primarily with the [Plaintiff/Defendant].
2.2 The non-resident parent shall have visitation rights every [Specify Frequency, e.g. alternate weekends, holidays].
2.3 Both parties shall contribute towards the child’s education, medical care, and general well-being.
3. Maintenance
3.1 Spousal Maintenance:
- The Plaintiff/Defendant shall pay spousal maintenance of R[Amount] per month for a period of [Specify Duration] or until [Specify Conditions, e.g. the recipient remarries].
3.2 Child Maintenance:
- The Defendant/Plaintiff agrees to pay child maintenance of R[Amount] per month per child until the child/children reach the age of 18, or completes their tertiary education, whichever is later.
4. Pension Fund Benefits
4.1 The Defendant/Plaintiff shall be entitled to 50% of the pension fund benefits of the Plaintiff/Defendant as per the Pension Funds Act.
5. Legal Costs
5.1 Both parties agree to cover their own legal costs, or the Plaintiff/Defendant shall cover all legal costs associated with this divorce.
6. Full and Final Settlement
6.1 This agreement constitutes the full and final settlement between the parties regarding all financial and parental responsibilities, and neither party shall have any further claims against the other post-divorce.
SIGNATURES
Plaintiff:
[Full Name]
Date: [Date]
Defendant:
[Full Name]
Date: [Date]
This is just a basic example. Each settlement agreement can vary depending on the specific circumstances, so it’s always advised to seek legal guidance when drafting one. You can also find templates or further information on divorce settlement agreements on legal resource websites such as Agreements Online or Family Laws South Africa.
Did You See These?
- Section 7 of the Divorce Act 70 of 1979 (South Africa)
- Spousal Maintenance After Divorce in South Africa: A Guide
- Penalty for Hiding Assets in Divorce South Africa
- How Much Does a Divorce Cost in South Africa
- How to Register Divorce at Home Affairs
- Tax on Divorce Pension Payout – Guide
- How Long Does a Divorce Take in South Africa
- Valid Reasons for Divorce in South Africa