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The same day Deane Sheremet filed for divorce from LeAnn Rimes Dec. 17, the two reached a confidential divorce settlement, according to Los Angeles court records.

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"The [settlement] shall not be filed in this proceeding due to the parties mutual desire to maintain their respective rights to privacy," the document states.

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The two are likely dividing their cash, property and other valuables.

Their divorce is expected to be finalized June 19, 2010.

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Their nearly eight-year marriage ended after Rimes had a relationship with her Lifetime movie costar Eddie Cibrian, who was wed to Brandi Glanville at the time.

Cibrian and Glanville are also divorcing.

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