Definition

Noun: 1. Legal division of marital assets: The legal process and resulting agreement that divides the property and assets owned or acquired by spouses during their marriage, typically as part of a divorce or legal separation.

Usage

This term is used almost exclusively in legal contexts, specifically family law and divorce proceedings. It refers to the formal resolution of how a couple's shared property will be distributed.

Examples

• The most contentious part of their divorce was the property settlement.
• After months of negotiation, they finally reached a fair property settlement.
• The court ordered a property settlement that divided their assets equally.

Advanced Usage

• "to reach a property settlement": To successfully negotiate and agree upon the terms of division.
  • The couple managed to reach an amicable property settlement out of court.
• "as per the property settlement": According to the terms outlined in the settlement agreement.
  • The house was transferred to her as per the property settlement.

Variants and Related Words

• Settlement (n): A formal agreement that resolves a dispute. In this context, it is specifically qualified by "property."
• Divorce decree (n): The final court order that legally ends a marriage, which often incorporates the terms of the property settlement.
• Asset division (n): A more general phrase describing the act of dividing property, which is the core action of a property settlement.

Synonyms

• Division of assets: The process of splitting marital property.
• Financial settlement: A broader term that can include division of property along with other financial matters like spousal support.

Notes on Meaning

The term "property settlement" specifically concerns the division of tangible and intangible assets (e.g., real estate, investments, pensions, debts) acquired during the marriage. It is a key component of dissolving a marital partnership and is distinct from matters like child custody or spousal support (alimony), though these are often settled simultaneously.

Noun

1. (matrimonial law) the division of property owned or acquired by marriage partners during their marriage