This agreement is intended to help the parties formalize an allocation of their property and finances and matters relating to child custody and visitation. [case number] [respondent name], respondent, marital separation. Web a divorce settlement agreement, also known as a marital settlement agreement (msa) or separation agreement, is a legally binding contract that outlines the terms and conditions of a divorce or legal separation between a married couple. Answers and settlement agreements 37 contents g e t t i n g s t a r t e d s t a y i n g o n t r a c k. This legally binding document is necessary for establishing specific conditions that.