Partial Family Settlement Agreement Law and Legal Definition

A Family Settlement Agreement refers to an agreement reached by all of the heirs as to how an estate should be distributed. The probate court does not have authority to approve or disapprove a family settlement agreement. All the parties to the agreement sign it, the agreement is filed with the Court, and it acts both as a binding and enforceable contract. A partial settlement agreement refers to an agreement evidencing the fulfillment, performance, or satisfaction of a severable part of a contract or claim. Therefore a partial family settlement agreement may refer to a family settlement agreement that evidences the fulfillment, performance, or satisfaction of a severable part of a family settlement agreement.