PREMARITAL AGREEMENT
This Agreement is entered into on this…………..day of……….20……., by and between __________ (hereafter referred to as “__________”) and __________ (hereafter referred to as “__________”).
1. Purpose. The parties intend to marry each other on ____________ in ____________, ____________. In advance of their marriage, the parties wish to provide for their rights and obligations in and to each other’s assets and property including that which each of the parties currently and separately own, that which each will acquire separately during the marriage and that which both will acquire together during the marriage, in the event the marriage is terminated.
2. Current Circumstances. With respect to current circumstances:
(a) __________ currently resides at __________, __________, __________ __________. __________ represents that he or she was not previously married. _________ has no children.
(b) __________ currently resides at __________, __________, __________ __________. __________ represents that he or she was not previously married. _________ has no children.
3. Effective Date. This Agreement will be effective on __________, the date of marriage. If we do not marry each other by such date, this Agreement will be null and void and its provisions unenforceable.
4. Disclosure. The parties have made full, fair, and reasonable disclosure to each other of their financial information regarding the net worth, assets, income, holdings, liabilities, and debts as outlined in Exhibits A and B to this Agreement. __________’s financial information is set forth in Exhibit A to this Agreement. __________’s financial information is set forth in Exhibit B to this Agreement. __________ acknowledges receipt, review and understanding of __________’s financial information prior to signing this Agreement. __________ acknowledges receipt, review and understanding of __________’s financial information prior to signing this Agreement.
5. Legal Representation. __________ and __________ represent that they had the opportunity to consult with legal counsel however chose not to engage legal counsel in the drafting and negotiation of this Agreement. The failure to consult legal counsel constitutes a waiver of such right. Both parties represent that they understand the contents of this Agreement, acknowledge this Agreement is fair and reasonable, they have the capacity to enter into this Agreement, and have chosen to freely and voluntarily enter into this Agreement.
6. Premarital Property. With respect to premarital property:
(a) All of __________’s property listed in Exhibit A that is separately owned prior to the marriage will remain as __________’s non-marital, separate and individual property during and after the marriage. Any increase in the value relating to the separate property will also remain as the non-marital, separate and individual property of __________. __________ has the full right and authority to manage, sell, gift, transfer or otherwise dispose of __________’s separate property.
(b) All of __________’s property listed in Exhibit B that is separately owned prior to the marriage will remain as __________’s non-marital, separate and individual property during and after the marriage. Any increase in the value relating to the separate property will also remain as the non-marital, separate and individual property of __________. __________ has the full right and authority to manage, sell, gift, transfer or otherwise dispose of __________’s separate property.
7. Property Acquired During Marriage. With respect to property acquired during marriage:
(a) Property earned, acquired and given to __________ individually during marriage will be treated as __________’s and remain __________’s non-marital, separate and individual property. Any increase in the value relating to the separate property will also remain as the non-marital, separate and individual property of __________. __________ has the full right and authority to manage, sell, gift, transfer or otherwise dispose of __________’s separate property. However, the following individual property of __________’s will be considered the marital property of both __________ and __________: (list them, if any)
(b) Property earned, acquired and given to __________ individually during marriage will be treated as __________’s own and remain __________’s non-marital, separate and individual property. Any increase in the value relating to the separate property will also remain as the non-marital, separate and individual property of __________. __________ has the full right and authority to manage, sell, gift, transfer or otherwise dispose of __________’s separate property. However, the following individual property of __________’s will be considered the marital property of both __________ and __________: (list them, if any)
(c) All assets and property that are earned and acquired by both parties through their joint efforts or given to both parties will be treated as marital property and owned equally by __________ and __________ or as otherwise designated in a writing signed by both parties.
(d) In the event the marriage is terminated, the marital property is subject to division as determined by the jurisdiction whose law governs the construction of this Agreement.
8. Premarital Debts. With respect to premarital debts:
(a) __________’s pre-existing debts or obligations listed in Exhibit A that exist prior to the marriage will remain as __________’s sole responsibility during and after the marriage. Any increase in the value of __________’s pre-existing debts or obligations listed in Exhibit A will also remain the sole responsibility of __________. However, the following debts or obligations of __________’s will be considered the marital debt of both __________ and __________: (list them, if any)
(b) __________’s pre-existing debts or obligations listed in Exhibit B that exist prior to the marriage will remain as __________’s sole responsibility during and after the marriage. Any increase in the value of __________’s pre-existing debts or obligations listed in Exhibit B will also remain the sole responsibility of __________. However, the following debts or obligations of __________’s will be considered the marital debt of both __________ and __________: (list them, if any)
(c) In the event the marriage is terminated, the marital debt is subject to division as determined by the jurisdiction whose law governs the construction of this Agreement.
9. Debts Acquired During Marriage. With respect to debts acquired during marriage:
(a) Any debts or obligations incurred by __________ during the marriage will be __________’s sole responsibility. __________ will not assume or become responsible for the debts or obligations due to the marriage without __________’s written consent. __________ will indemnify __________ if a debt or obligation is asserted as a claim or demand against __________’s property and __________ will be responsible for all related expenses including attorney’s fees. However, the following debt of __________’s will be considered the marital debt of both __________ and __________: (list them, if any)
(b) Any debts or obligations incurred by __________ during the marriage will be __________’s sole responsibility. __________ will not assume or become responsible for the debts or obligations due to the marriage without __________’s written consent. __________ will indemnify __________ if a debt or obligation is asserted as a claim or demand against __________’s property and __________ will be responsible for all related expenses including attorney’s fees. However, the following debt of __________’s will be considered the marital debt of both __________ and __________: (list them, if any)
(c) In the event the marriage is terminated, the marital debt is subject to division determined by the jurisdiction whose law governs the construction of this Agreement.
10.Maintenance. ________________agrees to pay _____________$1,000 (one thousand dollars) in the event of a divorce towards ______________’s support and maintenance.
11. Children. In the event that there are children born of this marriage, the parties jointly acknowledge their joint responsibility for the health, welfare, support, and education of such children, and they agree that upon Divorce, _____________ shall have full custody of any child(ren) of the marriage.
12. Taxes. With respect to taxes:
(a) During their marriage, the parties may elect to file a joint federal and state income tax return, but each party will continue to be liable for any and all taxes associated with their separate property.
(b) In the event the marriage is terminated, tax returns shall be separately filed.
13. Binding. This Agreement will inure to the benefit of and be binding upon the parties, their successors, heirs, executors, administrators, assigns and representatives.
14. Severability. In the event that any provision of this Agreement is held to be invalid, illegal, or unenforceable in whole or in part, the validity, legality, and enforceability of the remaining provisions shall not be affected, and the remaining provisions shall be construed, to the extent possible, to give effect to this Agreement without the inclusion of such invalid, illegal or unenforceable provision.
15. Governing Law. The terms of this Agreement shall be governed by and construed in accordance with the laws of the State of New York, not including its conflicts of law provisions.
16. Further Assurances. At the written request of either party, the other party shall execute and deliver such other documents and take such other actions as may be reasonably necessary to effect the terms of this Agreement.
17. Headings. The section headings herein are for references purposes only and shall not otherwise affect the meaning, construction, or interpretation of any provision in this Agreement.
18. Entire Agreement. This Agreement, including all Exhibits attached hereto, contains the entire understanding between the parties and supersedes and cancels all parties’ prior agreements, whether oral or written, with respect to such subject matter.
19. Amendment or Revocation. This Agreement may be amended or modified only by a written agreement signed by both of the parties. This Agreement may be revoked if both parties sign a written agreement before the presence of a notary public or other authorized official. Revocation shall become effective when properly recorded as required by state and local laws.
20. Signatures. The signatures of the parties to this Agreement represent the parties acknowledgement that they have the capacity to contract herein, have been informed of their legal rights, given an adequate amount of time to consider entering into this Agreement, read and understood the Agreement, agree with the contents of the Agreement, had sufficient time to review the Agreement and believe it to be fair, have not been pressured or coerced into signing the Agreement and chosen to freely and voluntarily enter into this Agreement.
Signed this _______ day of ___________________, 20_____.
_______________________________ _______________________________
Full Name of the First Party Full Name of the Second Party
Signed in the presence of:
_______________________________ _______________________________
Signature of Witness Name of Witness
______________________________________________________________________
Address of Witness
_______________________________ _______________________________
Signature of Witness Name of Witness
______________________________________________________________________
Address of Witness
NOTARY ACKNOWLEDGEMENT:
| A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached and not the truthfulness, accuracy, or validity of that document. |
State of _______________________ )
) (Seal)
County of _____________________ )
The foregoing instrument was acknowledged before me this _______ day of __________________, 20_____, by the undersigned, _______________, who is personally known to me or satisfactorily proven to me to be the person whose name is subscribed to the within instrument.
____________________________________
Signature
____________________________________
Notary Public
My Commission Expires: ________________
State of _______________________ )
) (Seal)
County of _____________________ )
The foregoing instrument was acknowledged before me this _______ day of __________________, 20_____, by the undersigned, _______________, who is personally known to me or satisfactorily proven to me to be the person whose name is subscribed to the within instrument.
_____________________________________
Signature
____________________________________
Notary Public
My Commission Expires: ________________
Exhibit A
Attach first party’s financial information regarding net worth, assets, income, holdings, liabilities and debts and/or financial statement.
Exhibit B
Attach second party’s financial information regarding net worth, assets, income, holdings, liabilities and debts and/or financial statement.
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