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LSDefine

Simple English definitions for legal terms

property settlement

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A quick definition of property settlement:

Property settlement is a legal decision made during a divorce that decides how the property and debts of the couple will be divided. This includes everything they own together, like their house, cars, and bank accounts, as well as any debts they owe. It can be decided by a judge or agreed upon by the couple in a contract that becomes part of the divorce decree. It is also sometimes called a property division or a marital agreement.

A more thorough explanation:

A property settlement is a legal agreement that determines how the assets and debts of a married couple will be divided in the event of a divorce. This can be done through a court judgment or a contract that is incorporated into a divorce decree.

For example, if a couple owns a house, cars, and bank accounts, a property settlement will determine who gets what. If one spouse takes the house, the other may receive a larger share of the bank accounts or other assets to balance out the division.

It is important to note that a property settlement can also include the division of debts, such as credit card balances or mortgage payments. This ensures that both parties are responsible for their fair share of any financial obligations.

property right | property settlement agreement

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I don't really know where I want to end up practicing yet, but I've enjoyed living in the midwest so far. I think I might ultimately like to end up as in-house corporate for the work life balance.
ParallelAgreeableOrangutan
11:53
I lived in Bloomington for a long time, can't speak to the law school but can answer Qs about the city if you'd like
@ParallelAgreeableOrangutan: How do you think it is to live in as a 20-something going to grad school? The comparison is Iowa city, so not an extremely high bar for liveliness. (No offense intended towards IC. I think it's a lovely place)
NosyBeagle
11:56
@NemoPropheta: taking it in august. feels like ill never be ready but f it we ball
I think the secret to happiness is fuck it we ball
is one ever truly ready for something? probably not. but fuck it we ball!
12:20
I went ahead and registered for August as well since it was free
12:20
Getting 2 180s back to back is better than one right
ronniedoeslaw
12:26
In all of your research, what minimum LSAT score do you believe gets you into UIC law?
12:27
I remember the last guy on here who was convinced he was gonna get a 180 bc he scored in that range on PTs
12:28
🤐
12:29
ugh someone come rub my bellly
12:33
@esoterica: he wasnt on that grindset mentality. im him
12:34
Im gonna drink so much saratoga water on test day
ParallelAgreeableOrangutan
12:43
@LawOfAchilles: (hiii sorry so slow, am at work) Bloomington is lovely, I loved it as an undergrad and as a 20something non-student.
ParallelAgreeableOrangutan
12:45
If you're outdoorsy, it's nice--obv no coasts or mountains, but two small lakes really close, lots of places you can go on a lowkey hike or camp without paying park fees or anything really
ParallelAgreeableOrangutan
12:47
super bikable, decent food to be had, things to do but not so much that you'll be distracted and never study lol. idk I'm a fan haha, I miss it
lmao I just got the LSAC notif that I'm under review at IU Maurer
ParallelAgreeableOrangutan
13:11
May you have better luck than I did :)
YAYYY JUPITER
@LawOfAchilles: if you like the outdoors, you're gonna love bloomington.
both uiowa and iu have a good reputation, especially with midwestern law firms. their alumni resources are pretty top notch too.
14:11
Hey guys, are any T14 schools doing tours during the summer?
NosyBeagle
14:24
@NemoPropheta: the lsat was free for you? lucky
14:26
who else piss on the floor during their lsat
sloth i gotta know about caesar beans
14:35
@NosyBeagle: yeah you just have to be poor and then they let you take it for free twice
NosyBeagle
14:54
ah ok it's a fee waiver. i think ill do that
NosyBeagle
14:54
the test got more expensive since the last time i took it
NosyBeagle
14:54
smh
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