Bristol Palin Gives Ex-Husband Their Old House in Divorce Settlement

In addition to starting a new chapter with MTV's Teen Mom OG, Bristol Palin is certainly starting anew by reaching a settlement in her divorce to ex-husband Dakota Meyer.

According to legal documents obtained by The Blast, Bristol and Meyer have reached an agreement in their divorce which outlines how the 27-year-old newly single mother will now transfer her Texas home into his name.

The 4,670 square-foot home, featuring 5 bedrooms and bathrooms that she shared with Meyer and their children was purchased last year and found the couple dropping a little more than $500,000 on the Austin area home.

The Blast goes on to report that a day after she gave the home to Meyer, Palin bought herself a 2,269 sq. ft home near Spicewood, Texas for over $400,000, complete with 3 bedrooms and 2 bathrooms.

The home, situated at The Summit at Lake Travis is amidst a lavish community and features sprawling views of the Texas Hill Country and Lake Travis. Surrounded by a lush greenbelt, Palin will be no doubt using the new home as the setting for her upcoming gig on MTV.

Last month, it was announced Palin would be replacing former Teen Mom Farrah Abraham on the long-running MTV series.

The reality star, who confirmed she would be joining the cast of the MTV series with an Instagram, will reportedly earn $250,000 for the first season with an option for a second and third year. According to Us Weekly, she will receive an additional $50,000 for each option exercised.

Sources go on to reveal that she could be making up to $350,000 in three years thanks to the new role on the series.

"Bristol came in hoping for a very big payday, and really thought she could and would get $500,000. None of the Teen Moms, even Farrah, made close to that when they first started or even now," the insider told Us Weekly.

The daughter of former Alaska governor Sarah Palin revealed how she feels about the casting news in an Instagram post.

"I am excited to join MTV's Teen Mom OG. I look forward to sharing my experiences and hope that I can help others on their journey," the mother of three wrote on the caption of the photo.

Teen Mom OG star Maci Bookout admits she was a little confused to hear that Palin would be replacing Abraham on the MTV reality series and was not aware of the casting news until it hit the news circuit.

"We were never called before it was released. A courtesy call an hour before, call us and say, 'This is who your new cast member is going to be.' We have been doing this for 10 years," Bookout told Lowry and Chrisley on their podcast, Coffee Convos.

But there is no bad blood between the co-stars yet. Bookout said she "doesn't really care" that Palin has joined Teen Mom OG cast, adding that "anybody is better than Farrah [Abraham]."

"If someone is presented with the opportunity, you can't be mad at someone for accepting an opportunity," Bookout said.

Photo credit: Gabriel Olsen/FilmMagic