For example, the beneficiary may be a parent who works only part-time and has primary custody of the children. Both parents may wish that the children continue to live in the old wedding home instead of the principal and the children having to move to a lower dwelling. However, the beneficiary would not be able to pay the other party a sum of money representing his share of ownership of the property. The parties may agree that child support payments for the next five years are the value of the payer`s share of the property. A private agreement on family allowances could provide for the payer to transfer ownership of the house to the beneficiary instead of child support for five years. A child support agreement may contain information in the form of recitals. Recitals are generally statements setting out the facts and context of the agreement and often contain a statement indicating the intention of the parties. Recitals are often useful for the interpretation of the agreement when the clauses and words used in the operational clauses are ambiguous. Although recitals are not part of the operational clauses of an agreement, the agreement may stipulate that they must be part of the agreement. Parents can enter into their own childcare arrangements. The agreement may concern itself with the quantity and form of transfer of family allowances. There are two legal types of child support agreements: for the period from the commencement of this agreement to the date of the final property orders and/or if the final ownership orders do not provide $100,000 in equity to Melissa in the property, the annual interest rate for child maintenance to be paid under this agreement is US$25,000 per year. `If an agreement contains conditions or conditions, the parties shall provide the declarant with evidence that the condition or condition is met.
Binding child support agreements allow parents to enter into binding financial agreements on the subsistence of children. Binding agreements on child support obligations work in the same way as financial agreements that separate parents can make on property, alimony and alimony.