SEPARATION AGREEMENT

 

WHAT IS A SEPARATION AGREEMENT? 

A separation agreement is a written record of how a couple has settled issues arising from the end of their relationship. Separation agreements are legal contracts recording the terms of your settlement that can be enforced by the court. 

 

WHY DO LENDERS REQUIRE A SEPARATION AGREEMENT?

Lenders require a separation agreement to verify that there is a legally binding contract in place.  It is especially the case if there is marital property to divide or children.  Lenders need confirmation any child or spousal support paid or received is agreed upon to use correct numbers on the stress test.

HOW CAN I OBTAIN MY SEPARATION AGREEMENT?

A separation agreement can be obtained through your lawyer if you do not already have a copy.