What is an MDA?
An MDA, or Marital Dissolution Agreement, is an agreement by both parties involved in divorce, whereby a legal marriage is dissolved, and assets are divided. Much like a contract, an MDA suffices as a legally binding agreement entered by both parties, except that this “contract” must be approved by the courts. The courts should make a determination that an MDA was entered into voluntarily by both parties, and that it is fair and equitable before it is approved. An MDA should provide for division or disposal of all marital property, debts, and responsibilities.
