Cannon and the upcoming Mariah's World star allegedly agreed on joint custody of their five-year-old twins, Moroccan and Monroe. They also intend to keep their own earnings during their six-year marriage under the terms of their prenuptial agreement.
Cannon and Carey, 46, got married in April 2008 and split in December 2014 after several months of separation. Cannon quietly filed for divorce that month.
"They are in a great place and a real source of support for one another -- plus a prime example of what co-parents should be," a source previously told Us.
Carey split from fiance James Packer, a 49-year-old Australian billionaire, in September. The former American Idol judge and Packer reportedly got into a big fight while vacationing in Greece that ended their engagement. He had popped the question back in January.