Property settlement in matrimonial disputes refers to the process of dividing property and assets between spouses during a divorce or separation. This can include real estate, personal property, bank accounts, investments, retirement accounts, and other assets that were acquired during the marriage.

The procedure for property settlement can vary by jurisdiction, but generally, it involves negotiating an agreement between the parties or having a court decide the division of assets. In some cases, the parties may be able to reach an agreement through negotiation, mediation, or collaborative law, which involves working with attorneys to reach a mutually acceptable agreement.

If an agreement cannot be reached, the court may need to intervene and make a decision based on the laws of the jurisdiction and the facts of the case. In many jurisdictions, the court will consider factors such as the length of the marriage, each party’s contributions to the acquisition of the property, each party’s financial resources and earning capacity, and any other relevant factors.

Once an agreement is reached or a court order is issued, the parties will need to transfer ownership of the property and assets as required by the settlement. It is often recommended to seek the assistance of a family law attorney to guide you through the process and protect your interests.