A Los Angeles Superior Court Judge Michael J Convey approved a divorce judgement which ended the couple's marriage, reported People magazine.
Collins and Grant's judgement calls for every copy of the 67-year-old actor's audio recordings in which he confessed to child molestation must be destroyed except two original copies possessed by the latter.
Both of the copies will be kept under lock and key for 10 years by Collins' lawyer Shawn Holley, who also represents celebrities like Justin Bieber and Lindsay Lohan.
According to the judgement, Collins will not have to pay Grant any spousal support but she will get some of his pension plan and investment income per month.
The couple's settlement which includes a 50/50 split of the sale of their Brentwood homes will let them avoid a public trial.
Collins filed for divorce from Grant in 2012 but the case became the center of attention since his molestation scandal emerged in October 2014. The actor later admitted to have sexually abused three underage girls in an interview.