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Role of Settlement Agreements Versus Court Decisions in Property Division
https://legiswiki.com/en/p/10029/role-of-settlement-agreements-versus-court-decisions-in-property-division
The role of Settlement Agreements versus Court Decisions in property division primarily centers on control, flexibility, and enforcement: Settlement Agreements (such as Property Settlement Agreements or Marital Settlement Agreements) allow divorcing parties to mutually decide the terms of property...
Limitations of notarization in preventing lawsuits or enforcing settlement agreements
https://legiswiki.com/en/p/10316/limitations-of-notarization-in-preventing-lawsuits-or-enforcing-settlement-agreements
include the following key points: Notarization only verifies identity and signature authenticity, not legal validity or content: A notary public's role is limited to confirming the identity of the signers, witnessing signatures, and administering oaths. They do not provide legal advice, interpret...

Settlement

Settlement has multiple meanings depending on the context, primarily legal and financial:

  1. Legal Settlement:
    A settlement is a legally binding agreement that resolves a dispute between two or more parties, often resulting in the voluntary dismissal of any related litigation. It is a way for parties to avoid the time, expense, and uncertainty of a court trial by agreeing on terms that end the dispute. These terms can include financial compensation, property transfers, or other obligations. Once signed, the parties typically release each other from future claims related to the dispute, allowing them to move forward without further legal action.

    • Settlements can occur before or during court proceedings.
    • They are often private agreements.
    • In civil law, settlements are common and most cases are resolved this way rather than by trial.
    • In class action lawsuits, a settlement covers the terms for the entire group involved.

  2. Financial Settlement:
    In finance, settlement refers to the final step in the transfer of ownership involving the physical exchange of securities or payment. After settlement, all parties’ obligations are discharged, and the transaction is complete. For example, in securities trading, settlement involves delivering securities to the buyer and payment to the seller, typically occurring within one or two business days after the trade.

  3. Other Uses:

    • In business law, settlement can mean the payment and closing of an account.
    • In wills and estates, it refers to the complete execution of an estate by the executor.
    • It can also mean the conveyance of property interests to beneficiaries, altering what they would otherwise inherit under law.
    • Outside legal and financial contexts, a settlement can also mean a small community or colony of people living together, such as a village or a newly established colony.

In summary, a settlement most commonly refers to a formal agreement that ends a dispute, especially in legal contexts, or the completion of a financial transaction involving transfer of ownership.

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