Property Settlement Agreement (PSA)

A Property Settlement Agreement (PSA) is a specific type of settlement agreement that focuses on the division of marital property and debts. The PSA typically includes a detailed listing of all of the assets and liabilities of the marriage, along with a plan for how they will be divided between the parties. The agreement may also address related issues such as the payment of mortgages or other debts, the transfer of titles or deeds, and the tax consequences of the property division. A PSA can be a standalone agreement or can be incorporated into a broader settlement agreement that covers other issues such as alimony and child custody. The purpose of a PSA is to provide a clear and enforceable plan for the division of marital property, and to avoid the need for a court-ordered distribution.