2. The petitioner and the respondent have disclosed themselves in a comprehensive, fair and specific manner on all financial matters relating to this agreement. To better understand what happens when the terms of a real estate transaction contract are violated, it is useful to know exactly what a real estate transaction contract is first. If one of the spouses does not comply with the terms of the real estate transaction agreement, this action may give rise to legal sanctions for the party that is violated. In addition, as has already been mentioned, transaction agreements are often categorized as „spouse agreements.“ The concept of a „spouse agreement“ is much broader, which is why these agreements can sometimes cover other topics (except divorce issues). Even if you have written your own transaction contract, it is important that a lawyer verify it before submitting it to the court. A lawyer can identify potential issues that you can address before submitting, save resources and avoid delays in your divorce process. You can write a countdown yourself, but it is not recommended to do so. Your divorce contract may seem simple, especially if you don`t have children or a significant amount of property. The deal will be more complicated if you have a family, own a home or due to other factors, but you might still think that you can handle the writing of the agreement.
As soon as the parties sign an EPI, they have entered into a binding contract that is not renegotiated at the time of the divorce. The main agreements and relevant sections of the EPI are included in the final divorce settlement (also known as the Divorce Decree). The signed and notarized PPE is filed with the court, along with all other documents required for divorce. Essentially, parties who have a signed PPE during their separation period work under a contract; Once the same parties are divorced, they work under both a contract and a court decision (the final divorce decision). A common point of disagreement with respect to transaction agreements is the fact that one spouse conceals the presence of assets from the other spouse.