Kim Kardashian and Kanye West are officially ex-spouses.
That’s according to TMZ, with the outlet reporting that the two have finalized the terms of their divorce, particularly issues relating to jointly owned property and custody of their four children.
The outlet reports that the settlement grants the exes joint custody with “equal access” to their kids; however, “sources with direct knowledge” tell TMZ that Kardashian will have custody of the children for the majority of the time, with West recently acknowledging that she currently has custody of their children about 80 percent of the year.
West will also be paying some hefty child support, with TMZ reporting he’ll be shelling out $200,000 per month to Kardashian, to be wired into her account on the first of each month.
In addition to that $200K, West is also responsible for paying half of all the kids’ educational expenses, and half the cost of security expenses.
As for division of assets, TMZ states that has all been dealt with in the ex-couple’s prenup.
One unique facet of the settlement agreement stipulates that in case of a dispute regarding their children, West and Kardashian have each agreed to engage in mediation; if one of them fails to participate in the mediation process, the other is granted full authority to make any decision by default.