Credit: Jeff Kravitz/FilmMagic

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.

"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.

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

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

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.

See what a body language expert has to say about LeAnn and Eddie and other flings

Cibrian and Glanville are also divorcing.