'The Challenge' Star C.T. Tamburello Settles Divorce

C.T. Tamburello, known from his time on MTV's "The Challenge," has finalized his divorce ... this coming a year after heading to court to pull the plug on their marriage.

According to new docs, obtained by TMZ, C.T. and his ex, Lilianet Solares, reached a settlement earlier this month -- agreeing to split custody of their 7-year-old son, Christopher Jr., and also to evenly divvy up expenses for the child.

But C.T.'s also gonna have to pay Lilianet $761.39 each month in child support ... and an additional $332.45 for each week he is working, and unable to exercise equal timesharing for their little one.

In addition, C.T. keeps their home, but will give Lilianet another $30,000 for her portion of the property's equity -- he'll also retain ownership of his company, New Leaf Investments, and she keeps her business, Solares Management.

TMZ broke the story, C.T. filed for divorce in Florida last November, following a very up-and-down relationship.

Docs filed in September showed they agreed on strict rules when it came to raising their kid -- which included them not being able to ask Christopher Jr. about the other parent while spending time with them.

Also, whichever parent isn't spending time with Christopher Jr is only allowed 2 phone calls a day with the kiddo. Seems they've thought of everything.