EXCLUSIVE

Michael Avenatti and his estranged wife have an agreement in place for him to pay her child and spousal support, and it requires him to fork over a ton of his assets ... TMZ has learned.

According to docs filed in Orange County, a judge ordered Avenatti to pay Lisa Storie-Avenatti $37,897 per month in child support, retroactive to Jan. 1, 2018. We'll do the math for ya ... it's $454,764. The order also requires Avenatti to pay her spousal support of $124,398 per month, retroactive to Jan. 2018. That's roughly $1.5 million.

Now, cut to Dec. 4, when both parties filed docs stipulating Avenatti write child support checks for $40k now, and another in January.

As for the balance ... according to the docs, Avenatti agrees to hand over a bunch of his assets for Lisa to liquidate. The loot includes 5 luxury wristwatches -- some worth more than $50k -- a Frank Gehry sculpture, and several other expensive works of art.

Additionally, he has to hand over the keys to a 2017 Ferarri 488 GT Spider he was leasing. By the way, those go for about $300k.