Agreements between parties to a divorce action that resolve all matters relating to their divorce, including the Property Department, child custody, child care, education plans and the possibility of support, are applicable in Georgia. Sanders v. Colwell, 248 Ga. 376 (1981). These agreements are commonly referred to as marital transaction agreements, real estate transactions or marital dissolution agreements. To enter into force, these agreements must be approved by the President of the Bureau and incorporated into the final judgment and the couple`s divorce decision. These agreements are usually concluded after the divorce action is filed. Agreements in the review of divorce, which are agreements that are made before the start of the divorce action to settle the issues of alimony, property service, child custody, child custody and visitation, are also valid in Georgia. In order for a court to verify, approve and imply an agreement reached by the parties, the parties must first present to the Tribunal the agreement or proof of the agreement. It is therefore preferable for the parties to abandon their agreement to ensure that there will be no further disputes over the terms of the agreement. Indeed, a court will not accept an agreement until all the essential conditions of the agreements have been clarified. See DeGarmo v.
DeGarmo, 269 Ga. 480 (1998). In addition, the spouses must, in their transaction agreement, describe and effectively dispose of all the assets to which both spouses are interested. Otherwise, the court`s final decree will not yield any of the parties to their interest in the property. Newborns av. Clay, 263 Ga. 622 (1993). This means that if the parties forget to assign the couple`s holiday home to a particular spouse, the court order will not do so. Thus, even after the divorce, the house remains the property of both spouses. This is why it is important to ensure that all interests of matrimonial property are addressed in the transaction agreement and properly distributed. See our article entitled „Marital Property” for a detailed discussion on the definition of matrimonial property under Georgian law. In general, in the State of Georgia, all property acquired during marriage is considered marital property, which means that it belongs to both spouses.
This may also be the case where the property is actually titled only on behalf of one of the parties. Marital property is subject to equitable separation in divorce. To determine whether personal or private property is marital or separated real estate, you should keep in mind that if the asset was acquired after the date you were married, it is generally considered a matrimonial property. When the assets were acquired before the date of marriage, they are usually non-marital property. Once the court approves the transaction agreement, the court will make the agreement part of its final judgment and the divorce decision. This process is called „initiation.” See generally Herndon v. Herndon, 227 ga. 781 (1971) and Funderburk v. Funderburk, 229 Ga.
457 (1972). The rights of the parties after the final divorce judgment is adopted stem from the final judgment itself and not from the underlying agreement. Mehdikarima v. Emaddazfuli, 268 Ga. 428 (1997). In other words, the parties are bound by the agreement under the court order. consequently. B a party may apply for contempt of Court if the other party does not comply with the terms of the transaction agreement that was incorporated into the Tribunal`s final decision. The husband and wife agree that no debt or shared liability can be incurred from the date of this agreement.