LOS ANGELES (CBS) — Mel Gibson will pay the mother of his 22-month-old daughter $750,000 under a settlement reached concerning the former couple’s financial issues, a judge said Wednesday.

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Oksana Grigorieva will be paid in three installments, the last by January 2016.

Los Angeles Superior Court Peter D. Lichtman also said the home where Grigorieva lives with her daughter, Lucia — to whom she gave birth during her relationship with Gibson — will be sold when the 22-month-old girl turns 18. The proceeds from the sale will be held in trust for her. She will also receive an equal treatment in Gibson’s inheritance.

KNX 1070’s John Brooks reports.

The two will have joint legal custody of Lucia, but the precise terms of their custody agreement were to be finalized in closed session later this morning before Judge Scott Gordon.

The judge also banned the couple from writing books about their relationship or speaking publicly about it.

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“I would like to thank your honor for bringing this matter to a reasonable conclusion,” Gibson told Lichtman.

Griegoreva also verbally expressed her gratitude.

Grigorieva had alleged she was subjected to verbal and physical abuse at the hands of Gibson. He countered that she tried to extort millions of dollars from him in return with telephone recordings she made after their relationship ended in April 2010.

“Oksana settled this cases today because it was in the best interest of Lucia,”said Griegoreva’s attorney, Daniel Horowitz.

Gibson, 55, pleaded no contest in March to a misdemeanor battery charge stemming from a 2010 run-in with Grigorieva.

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