MARITAL SETTLEMENT AGREEMENT
8
6.01 TITLE.
______Pending sale, the parties shall hold title to the family residence located at _______
__________________________________, California, as tenants in common. As soon as
practicable after the effective date of this agreement, the parties shall duly execute,
acknowledge, and record a deed transferring title with respect to the residence from
themselves as joint tenants to themselves as tenants in common. The change of title to
tenancy in common, however, shall not be dependent on execution or recordation of such
a deed.
6.02 OCCUPANCY.
______ (Name) __________________________ shall have exclusive occupancy of the
family residence until the first of the following events:
(a) The date of _____________ arrives, or as soon thereafter as possible;
(b) The residence is no longer the residence of both _____________ and at least
one child of the parties for whom a support obligation of _________________
then exists;
(c) (Name) ________________________ dies;
(d) (Name) ________________________ remarries;
(e) The residence is condemned, totally destroyed, or destroyed to such an extent
that it is not economically feasible to repair;
(f) (Name) ________________________ fails to timely make payment on the
encumbrance and the holder files a notice of default or otherwise takes action to
make recourse to the security;
(g) The residence is sold by mutual agreement of the parties.
6.03 MAINTENANCE, REPAIRS, AND IMPROVEMENTS.
______During (name) ______________________________ exclusive occupancy of the
residence, he/she shall maintain the residence in good condition, normal wear and tear
excepted, and shall be solely responsible for all costs of maintenance, repairs, or
improvements in the amount of $__________________, or less. For any single item of
maintenance, repair, or improvement costing over that amount, except as unavoidable
due to emergency, ___________________ shall obtain the prior written consent of
________
________________ for such work, which shall not be unreasonably withheld. For items
costing over the stated amount, __________________________ shall be solely
responsible for the stated amount, and the remainder of the cost shall be borne equally by
the parties.
6.04 RESPONSIBILITY FOR ENCUMBRANCES, TAXES, AND INSURANCE.
______During (name) ___________________________ exclusive occupancy of the
residence, ________________________ shall be responsible for payment of the
encumbrance and property taxes, and for maintenace and payment of the existing
property insurance, and shall hold (name) _________________________ harmless from
each liability. If ________________________ fails to timely make any payment,
___________
________________ may do so and shall be entitled to recover from _________________