All about KHULA DIVORCE
The legal & technical aspects of Khula Divorce was discussed in this forum.
Excerpts from the thread are provided below:

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A Woman, Under Islamic law of KHULA, may initiate a divorce against her husband as follows:
Khula' is when wife has a dislike for her husband and ASKS HIM to divorce her in exchange of a sum, or all or part of her MAHR. In such a case, when the husband agrees to divorce, he forfeits the power of revocation, except when the wife agrees to take back the money or ransom she gave. It is not permissible for a woman to seek divorce from her husband unless she has borne ill-treatment from him or unless she has an acceptable reason which requires their separation. Said the Prophet, "If any woman asks her husband for a divorce without some strong reason, the fragrance of the Garden will be forbidden to her."

Mubaraat is when dislike is mutual, and in this case also the wife has to pay some ransom to the husband. However, the ransom paid in the case of Mubaraat should not exceed the Mahr. This divorce is also absolute.

If the husband himself wishes to pronounce the formula of Khula' divorce and his wife's name is, say, Fatima, he should say after receiving the property: "Zawjati Fatimatu Khala'tuha 'ala ma bazalat" and should also say as a recommended precaution: "Hiya Taliq" i.e. "I have given Khula' divorce to my wife Fatima in lieu of what she has given me, and she is free'. And if the wife is identified, it is not necessary to mention her name in Talaqul Khula' and also in Mubarat Divorce.

Under Khula – Judges, in Egypt, for example, give the couple three months to try to effect a reconciliation and six months if they have children. An immediate divorce will be granted at the end of the trial period if they don't change their minds. Scholars admit that under laws of Khula – only rich women would risk losing dowry or alimony; for the poor – the law means very little. However, it’s a step in the right direction!

When Morocco put forth proposals to ban polygamy, raise the legal age for marriage from 14 to 18 and allow women half their husbands' wealth in case of divorce or death, the fundamentalists took to the street in angry demonstrations, loudly chanting:
"We defend Islam with our bodies and souls"
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To view the full essay by logical, pls click on http://www3.pak.org/gupshup/Forum13/HTML/000987.html

Be sure to refer to the second post by logical as well.