This Prenuptial Agreement (hereinafter referred to as the “Agreement”) is made and entered on this ____ day of _____ 2021 (the “Effective Date”), between Daniel L White, Contact Info: ______________ (hereinafter referred to as the “Husband”), and Catherine J Scherrer, Contact Info: _______________ (herein referred to as the “Wife”).
WHEREAS, the Parties herein sign this Agreement with the contemplation of marriage.
WHEREAS, the Parties define hereunder their respective rights and obligations to their property and in the property in the unfortunate event of dissolution of the marriage.
NOW THEREOF, in consideration of the mutual covenants and promises made by the Parties hereto, the Parties covenant and agree as follows:
- CONTINGENT AGREEMENT.
This Agreement is contingent upon the Parties’ contemplated marriage. In the event the marriage does not occur, this Agreement shall be null and void.
- SEPARATE PROPERTY.
- All the property defined as separate property under the laws of the State of Alabama including property acquired prior to the marriage or by bequest, devise, descent or gift from a third party or interposal gifts. All property purchased with or exchanged for separate property shall remain separate property.
- The Parties agree that the following properties shall constitute separate property owned by:
- The Husband.
- The Wife.
- The Parties agree that their separate property shall under no circumstances be considered as Martial Property or community property or quasi-community property or otherwise be subject to any claim or right of the other in the unfortunate event of dissolution of the marriage.
- JOINT PROPERTY.
- These refer to property that the Parties own jointly before the marriage __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.
- These also shall refer to any contemplated joint accounts that the Parties may open for the purpose of paying bills.
- MARITAL PROPERTY.
- All property acquired during the marriage until the time of the dissolution shall be considered marital property.
- All property acquired by either Party during the term of the marriage whether the said property is real, personal or mixed shall be considered marital property. Note, any inheritance received by either party during the marriage shall NOT be considered as marital property during dissolution.
- All property designated by the Parties as marital property in a written agreement, executed and acknowledged by the Parties with the same formality as required under the laws of the State of Alabama, USA
- RIGHTS OF THE PARTIES UPON DISSOLUTION OF THE MARRIAGE.
- Each Party shall retain their separate property, and the other Party agrees not to make any claim in or to such property.
- All marital property as defined under this Agreement shall be divided between the Parties in accordance with the law. if within _________ days following the dissolution of the marriage the Parties do not agree on the division of marital property, then such property shall be sold to an independent third party and the proceeds shared by the Parties. Note: that Parties shall receive any down payments made towards purchase of marital property before the amount received from its sale is split 50/50. This includes where a Party pays the down payment for the acquisition of the family home, such party shall receiving the down payment before the balance is split 50/50.
- DISCLOSURE OF ASSETS.
The Parties hereby acknowledge that, to their mutual satisfaction, each Party has had the opportunity to ascertain and is fully acquainted with and aware of the approximate income, property, net worth and general financial circumstances of the other as set forth herein; that each Party has ascertained and weighed all of the facts, conditions and circumstances likely to influence his/her judgment in all matters embodied herein, and that each has given due consideration to all such matters and questions; that each clearly understands and consents to all of the provisions hereinafter contained, having had the benefit and advice of independent legal counsel of his/her own choice; and that each is willing to accept the provisions of this Agreement in lieu of all other rights either may otherwise have under the law but for this Agreement.
In the event of disputes arising about the execution of this Agreement and/or performance of obligations stated herein, the Parties shall solve such issues through a mediation and or an arbitration process.
This Agreement contains the entire Agreement between the Parties relating to the subject matter hereof and supersedes any and all prior agreements or understandings, written or oral, between the parties related to the subject matter hereof. No modification of this Agreement shall be valid unless made in writing and signed by both parties hereto.
- GOVERNING LAW, JURISDICTION AND GENERAL PROVISIONS.
This Agreement shall be governed by and construed in accordance with the laws of the State of Alabama, USA Exclusive jurisdiction and venue shall be in Alabama USA.
IN WITNESS WHEREOF, this Agreement has been executed by the parties as of the Effective Date.
Name: ___________________________ ___________________________________
Address: _________________________ ___________________________________
Phone Number: _____________________ ___________________________________
Email: ____________________________ ___________________________________
Signature: _________________________ ___________________________________
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