After practicing family law in Virginia for over twelve years and drafting hundreds of property settlement agreements for clients in Norfolk, Virginia Beach, Richmond, Fairfax, and across the Commonwealth, I created this comprehensive, free Virginia property settlement agreement template that you can download and customize today. This article explains everything you need to know about a Virginia property settlement agreement (also called a marital settlement agreement or separation and property settlement agreement in Virginia), walks you through each section, and gives you a ready-to-use Word document that complies with Virginia Code § 20-155 and current 2025 requirements.
Important Disclaimer: This template and article are for informational purposes only and do not constitute legal advice. Laws change and every situation is unique. Always consult a licensed Virginia family law attorney before signing any agreement.
Click here to download the free Virginia Property Settlement Agreement template (Word .docx)
A property settlement agreement VA (PSA), sometimes called a marital separation agreement Virginia or separation and property settlement agreement Virginia, is a written contract between spouses who are separating or divorcing. It resolves all financial and property issues—division of marital property, spousal support, retirement accounts, debts, child custody (if you choose), child support (advisory only), and more—so the court can incorporate it into the final divorce decree under Virginia Code § 20-109(C).
Virginia is an “equitable distribution” state (§ 20-107.3), not community property, which means having a clear, signed, and notarized PSA prevents expensive courtroom battles over who gets what.
Yes—once both spouses sign and have the agreement notarized, it becomes a binding contract. Virginia courts routinely uphold properly executed PSAs as long as they are not “unconscionable” and both parties entered voluntarily with full disclosure (see Waldrop v. Waldrop, 2004 and Derby v. Derby, 201 Shenandoah, 2010).
In my practice I have seen both. A well-drafted free separation agreement Virginia template works beautifully for uncomplicated cases: no minor children, modest assets, both parties cooperative, and full financial transparency. When minor children, large retirement accounts, closely held businesses, or significant spousal support is involved, most clients ultimately hire counsel to avoid costly mistakes.
Here is the exact structure I use in 95% of the agreements I draft:
The template I provide is fully editable with clear brackets [like this] where you insert your information.
Full legal names, county/city of residence, date of marriage (verify with certificate), and date of separation (important for equitable distribution clock).
I built an easy-to-read table so you can list every asset and who keeps it:
| Asset Description | Value | Awarded To |
|---|---|---|
| 2019 Toyota Camry | $18,000 | Wife |
| Vanguard Roth IRA #1234 | $87,000 | Husband |
| Marital residence – 123 Ocean View, Virginia Beach | $485,000 | Wife (Husband to execute deed) |
Same format for debts—be specific about account numbers and minimum payments.
Most clients choose one of three options I pre-wrote:
The template includes boilerplate QDRO cooperation language approved by most Virginia judges and plan administrators.
Virginia requires two witnesses OR notary acknowledgment. I recommend both for extra protection.
In Virginia, they are often used interchangeably. Some attorneys call the court-filed version a “Stipulation Agreement” while the private contract is the PSA. Functionally identical once incorporated into the decree.
Once signed and notarized:
In the Tidewater courts I practiced in for years, judges particularly scrutinize real estate transfers (deed preparation), military retirements (must comply with USFSPA), and whether SCRA protections were honored. The template includes military-specific clauses that satisfy Virginia Beach and Norfolk judges.
Most provisions (property/debt) cannot be modified after divorce unless fraud or mutual mistake. Spousal support can be modified if the original agreement “reserves” the right or the court retains jurisdiction.
A solid marital settlement agreement Virginia is one of the wisest investments—or savings—you will ever make during divorce. Thousands of dollars in attorney fees and years of stress can be avoided with a clear, fair agreement both parties honor.
Download the free template below, fill it out together (or with your own attorneys), have it notarized, and move forward with peace of mind.
Download Free Virginia Property Settlement Agreement Template (2025 Updated)
Have questions? Leave a comment below or schedule a consultation with a licensed Virginia attorney. Wishing you a smooth and fair resolution.
Sources:
Virginia Code Title 20 – Domestic Relations (leg1.state.va.us)
IRS Publication 504 – Divorced or Separated Individuals (irs.gov/publications/p504)
Virginia State Bar Family Law Section Resources