As a result, if you signed a settlement agreement with your former spouse, a court will most likely enforce it. How long are the parties bound by a marital separation and property settlement agreement? A new york marital settlement agreement is a divorce tool that helps two spouses come to a mutually beneficial agreement regarding the division of their assets, liabilities, properties, child custody, and child support. Web a divorce settlement agreement template is an easy to use legal document between two individuals who are going through the divorce process. In the heat of a new york divorce, it may feel nearly impossible to agree on many things.