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Separation Agreement
Legal agreement detailing support payments and asset division.
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What is it?
A legally binding contract between separated spouses outlining child support, spousal support, and the division of debts and assets.
Why do we need it?
Support payments are considered debt obligations and significantly impact how much mortgage you qualify for. Lenders must see the exact amounts.
Key Requirements
Must be the final, signed agreement.
Must clearly state support amounts and schedules.
If no formal agreement exists, we may need statutory declarations or lawyer letters.
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