A Marital Settlement Agreement (MSA) is sometimes referred to as a property settlement. An MSA is an agreement made between divorcing spouses, which sets forth how the parties have agreed to divide their marital property. In a divorce, spouses can agree as to how they want to divide up their bank accounts, the house, retirement accounts, investments, any debt, and any other marital property. Generally speaking and as long as the agreement is reasonable, Courts will usually accept agreements reached between the spouses. An agreement can be reached between spouses at any time during a divorce proceeding.