Settlement Agreement Example

AGREEMENT

                                                                       

IN TERMS OF SECTION 7 OF THE DIVORCE ACT 1979

BETWEEN

----------------------

and

----------------------------

IN THE HIGH COURT OF SOUTH AFRICA

NATAL PROVINCIAL DIVISION                                       CASE NO:-----2012

In the matter between:

---------------                                                             Plaintiff

and

---------------------                                                     Defendant     

(born ----------------)           

SETTLEMENT AGREEMENT

PREAMBLE

1.1	The parties were married to each other in community of property on the 5th day of  August 1989 and at Empangeni.
1.2	The parties agree that the marriage has irretrievably broken down and that they are to be divorced.
1.3	The parties have reached agreement with regard to property and other proprietary and ancillary consequences of divorce.

1.4	The agreement is hereby recorded in writing.

2.

DEFINITIONS

In this agreement the following words shall have the meanings assigned to them hereunder:-

2.1	"Dan” – Dan Govender
2.2	"Vera” – Vera Govender ( Born------------)
2.3	"the Parties" – Dan and Vera
2.4	“the minor child"- Deborah Govender
2.5	"The Order of Divorce" – the order of divorce to be granted by the High Court Pietermaritzburg.
2.6	Headings of clauses shall be deemed to have been included for the purposes of convenience only and shall not affect the interpretation of the agreement.
2.7	Unless inconsistent with the context, words relating to any gender shall include the other genders, words relating to the singular shall include the plural and vice versa and words relating to natural.

3.

DIVORCE

3.1	The terms and conditions of this agreement shall only come into effect upon the granting by the Court of the order of divorce.
3.2	The order of divorce sought by the party attending Court for the trial of the divorce action shall confirm the terms and conditions of this agreement, which, insofar as may be permitted by the court, shall be included in the order of divorce granted.

A.         SETTLEMENT OF ISSUES PERTAINING TO THE CHILDREN

1.1           Primary Care-giving

The parties agree that it would be in the best interest of the minor children, namely DEBORAH GOVENDER, a daughter born on the 3^RD day of February 2000  that primary care giving of her be awarded to Vera.

 

 1.2          Contact rights

                1.2.1 Dan shall have reasonable contact rights to the minor child, including, but not limited to alternate weekends and alternative school holidays. The December / January school holiday will be divided counting as two separate holidays hence ensuring that the minor child spend alternative Christmases with Dan.  

1.2.2       It is agreed that for Christmas 2012 the children will be with Vera whilst the children will share the second part of the December /January 2012 holiday with Dan.

1.2.3       It is agreed that as far as possible Dan will have contact to the minor child on her birthday as well as on father’s day.

1.2.4       It is furthermore agreed that Dan will collect and return the minor child from Vera’s home on a daily basis in taking her to and from school. The aforesaid arrangement is conditional to the parties residing in the same town.

1.2.5       It is agreed that during Dan’s contact weekends he will collect the child from Vera’s home at no later than 18h00 on a Friday and return her by no later than 18h00 on a Sunday.

1.3          Maintenance

1.3.1       The parties agree that Vera reasonably requires and that Dan is able to pay maintenance on a monthly basis in respect of the minor child in the sum of R2000-00 per month;

1.3.2       The maintenance payable to Vera in respect of the minor child will be paid monthly in advance, on or before the 7^th day of each month directly into the bank account of Vera. 

1.3.3       Dan’s maintenance obligation will terminate once the respective child becomes a major or self-supported which ever occasion may occur first. 

1.4           Medical Aid

1.4.1       The minor child will be retained as dependent on Dan’s medical aid fund. Dan will also be labile for the payment of all reasonable and necessary medical expenses incurred by Vera on behalf of the minor child.

1.4.2       It is agreed that Vera will furnish Dan with proof of any surcharge or levy not paid by the medical aid fund where after Dan will attend to reimburse Vera the amount owing within 14 days thereof.

1.4.3       Dan will provide Vera with a copy his medical aid card to insure that Vera has all necessary medical aid information at hand in case of an emergency.

1.5           Educational Expenses

1.5.1       It is agreed that Dan will attend to payment of all reasonable and necessary educational expenses incurred on behalf of the minor child.

1.5.2       It is recorded that the minor child is attending St Catherine’s school and  it agreed that prior to Vera removing the child from the said school, she will discuss same with Dan. In the event of Vera removing the minor child from the said school without discussing same with Dan it is recorded that Dan will only contribute an amount equal to what he would be paying at St Catherine’s school to Vera in lieu of school fees.     

1.5.3       It is furthermore agreed that Dan will be labile for necessary school uniform, school books, stationary, outings, extra – mural activities including piano lessons incurred by Vera in respect of the minor child.  

1.5.4       Vera will provide Dan with proof of such expenses as referred to in para 1.5.3 herein above where after Dan undertakes to settle same within 14(FOURTEEN) days thereafter.

A.         SETTLEMENT OF PROPRIETARY CLAIMS

4.1       Immovable Property

4.1.1    It is recorded that Dan and Vera are the joint owners of the following immovable property:-

122 David Glenny; EMPANGENI, KwaZulu Natal and

4.1.2      It is agreed that Vera will retain as her sole and exclusive property the properties described as 122 David Glenny, EMPANGENI.

4.1.3      It is furthermore agreed that Vera will pay Dan an amount of R300000-00(THREE HUNDRED THOUSAND RAND) in lieu of his half share in the said properties.  

4.1.4      Vera will attend to payment of the aforesaid amount directly to Dan within ONE month from date of divorce.

4.1.5      It is furthermore agreed that Vera will, at her own cost, attend to the transfer of Dan’s half share in the properties within THREE months of date of divorce.  

4.1.6      It is agreed that the aforesaid arrangement as set forth in  para 4.1.2 and 4.1.3 is conditional to Vera being successful in obtaining a bond to the value of the R1 million within 1 (ONE) month after date of signature hereof.

  

4.1.7      Vera will be solely responsible for payment of all expenses in connection with the properties as from date of divorce, such to include the bond repayments, levy payments, electricity accounts, water accounts and any further accounts related to the said property.

4.1.8    The conveyancing documents to give effect to the transfer of the said properties as described herein above will be attended to by D Inc.

4.2       Movable Property

4.2.1   Household Furniture

It is agreed that the household furniture presently held at 122 David Glenny, EMPANGENI will be retained by Vera as her sole and exclusive properties except for the following items:-

1 x Bar fridge;

Camping equipment; Cano; fishing equipment , bicycle

All tools (electrical and other);

that will be retained by Dan as his sole and exclusive property.

4.2.2     Motor Vehicle

Dan will retain the Colt, registration number NUF 1 as his sole and exclusive property, whilst Vera will retain the Mercedes Benz bearing registration number NUF 6 as her sole and exclusive property. Each party will be labile for their own vehicles insurance and vehicle installments and indemnifies the other party from any liability in this regard.

4.3         Debts & Legal Costs

It is agreed that each party will attend to payment of their own debts incurred in their names and legal costs.

4.4       Policies & Pension Funds

Each party shall be entitled to retain his/her own policies of life assurance, retirement annuities and pension or provident funds as their sole and exclusive property and will there be no claims against made respectively.

5.

The parties acknowledge that this agreement is in full and final settlement of all the outstanding matters between them, including all claims arising out of the provisions of this agreement.

6.

The terms and conditions of this agreement shall be binding on the parties’ estate, their heirs, executors and assigns.

7.

Each party chooses his/her domicillium citandi et executandi for all purposes under this agreement at:

In the case of the Plaintiff:

In the case of the Defendant:

8.

No variation or an abandonment or waiver of rights or obligations shall be binding unless contained in this agreement or subsequently rendered to writing and signed by the parties.

THIS DONE AND SIGNED at RICHARDS BAY on this___day of NOVEMBER 2012.

AS WITNESSES:

1.         ________________________

                                                                                    ______________________

                                                                                                PLAINTIFF

2.         ________________________

THIS DONE AND SIGNED at RICHARDS BAY on this____day of NOVEMBER 2012.

AS WITNESSES:

1.         ________________________

                                                                                    ______________________

                                                                                                DEFENDANT

2.       ________________________