Tom Cruise and Katie Holmes In Talks For Divorce Settlement

Sources very familiar with the situation tell us ... there are NO immediate plans for either side to go to court. There will be no court hearing Monday, Tuesday or in the foreseeable future, unless the negotiations fall apart.

Sources tell us the lawyers are negotiating child custody, visitation, child support and a property settlement.

We're also told the whole settlement could be ratified in New York if all goes well. In other words, there may not be a move by Tom's camp to transfer the case to California, where judges are more likely to award joint custody.