Arizona has a Community Property Statute. A property settlement agreement is an agreement between the spouses on how to divide the marital assets but this agreement cannot be filed with the Court.Our team of property division lawyers can help you navigate this confusing process. Defining and Dividing Property in a Divorce. For couples considering divorce, one of the most daunting aspects is the division of property. Dividing Property in a Divorce under Arizona Community Property Laws can be very complex. Call us to make sure you get the best possible outcome. The way it works in the United States is that the parties negotiate a division of property that is mutually agreeable. They then submit this to a court. All a court has to do is to fairly and equitably divide their property.