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Chris Brown settled his custody battle with baby mama Nia Guzman on Monday, with each party agreeing to joint legal and physical custody of their one-year-old daughter Royalty, Gossip Cop has learned. We're told the singer will keep Royalty for 12 days out of every month, while Guzman will have their daughter the remaining days.

As far as financials, Gossip Cop is told both parties agreed Brown will pay $2,500 a month in child support, as well as cover the costs for Royalty's education, health insurance, and nanny. Additionally, Brown will pay the outstanding $15,000 owed in child support.

Significantly, Royalty will legally take Brown's last name. Following the settlement, the singer tweeted, "Court went great today. Glad this all worked out."

As Gossip Cop previously reported, Guzman filed papers in August requesting that Brown's visits with Royalty be supervised, alleging that he and his entourage have substance abuse issues. Brown submitted to a drug test during the initial custody hearing and ended up testing positive for both marijuana and codeine, but he has legal prescriptions for both drugs, so the issue is moot. Also, Guzman has dropped her request that visitation be supervised.

Monday's settlement is still pending a judge's approval, but the case is expected to be fully resolved.