A divorce based on irreconcilable differences in Tennessee (TN), must have a marital dissolution agreement (MDA). An MDA is a written agreement between the parties that divides the property and debts equitably. The MDA must be signed by both parties and notarized to show that they are agreeing to a divorce and the division of assets.
The marital dissolution agreement will divide up the property between the spouses. It should tell who gets the house, the cars, the furniture, the china, etc. The MDA should also divide the marital debt. It will tell who is responsible for the mortgage, credit cards, and other debts from the marriage.
Once the MDA has been agreed upon by the parties, the court will make sure that it is an equitable agreement. If the court does not find the agreement sufficient and equitable, the case can be continued for further negotiation between the parties or the court may offer an amendment that they can accept.