Unless a Party can reasonably show that they solely own a piece of property, where either Party commingles jointly owned property with Separate Property, any commingled property will be presumed to be Shared Property. Nothing in this Agreement will prevent or invalidate any gift, or transfer for value, from one Party to the other of present or future property. 
there is proof of shared legal ownership. Except as otherwise provided in this Agreement, all property will be treated as property owned solely by either one of the Parties (the "Separate Property") except where:. All jointly acquired or jointly held property, however and whenever acquired, will remain the property of and be owned by both Parties and will be treated as shared property (the "Shared Property"). The Parties acknowledge that this Agreement will govern any determination of ownership of property that may occur in the event of the Parties separating, or upon the death of a Party. NOW THEREFORE in consideration of the mutual promises and covenants contained in this Agreement, the Parties agree as follows: The Parties acknowledge that this Agreement will continue upon termination of marriage whether by death, divorce, or otherwise. 
They entered into this Agreement freely and under no duress or undue influence on their decision by the other Party. They have, or reasonably could have had, an adequate knowledge of the property or financial obligations of the other Party and. Prior to execution of the Agreement, both Parties were provided a fair and reasonable disclosure of the property or financial obligations of the other Party. This Agreement was not unconscionable when it was executed. The Parties did execute this Agreement voluntarily. The Parties have disclosed to their satisfaction all assets and liabilities that each may have and voluntarily and expressly waive any other rights to disclosure of the property or financial obligations of each other beyond the disclosure provided. The Parties also acknowledge that they have had the opportunity to retain their own lawyer and to receive independent legal advice regarding the terms of this Agreement. The Parties acknowledge that they have been provided with a reasonable period of time to review this Agreement. The Parties desire that the distribution of any property that either or both of them may own will be governed by the terms of this Agreement and, insofar as the statutory or case law permits, intend that any statutes that may apply to them, either by virtue of Federal or State legislation, will not apply to them. The Parties further wish to affix their respective rights and liabilities that may result from this relationship. The Parties wish to enter into this Agreement to provide for the status, ownership, and division of property between them, including future property owned or to be acquired by either or both of them. The Parties intend for this Agreement to become effective upon execution by both Parties. This Agreement is made between _ and _ (collectively the "Parties" and individually a "Party") who are married to each other. THIS POSTNUPTIAL AGREEMENT (the "Agreement") MADE ON THIS _ day of _, _ This generally means that both sides must give up something and receive something in exchange. it must be fair and more or less equitable.Īdditionally, adequate consideration is required in most states. The Agreement must not be "unconscionable", i.e. Prenup illinois template full#
The spouses must make full economic disclosure and disclose all material facts. The Agreement was not obtained through fraud, duress, deceit, coercion, mistake or misrepresentation. The requirements of the postnuptial contract are that: What is required in a Postnuptial Agreement? A Postnuptial Agreement is a type of contract, between spouses, and is treated as such by the court. 
What if my state is not listed? If your state is not listed, it means that Postnuptial Agreements are not allowed in your state. In some cases, creating a Postnuptial Agreement in contemplation of divorce could invalidate the Postnuptial Agreement. However, the Postnuptial Agreement is not meant to be used if you are contemplating separation or divorce in that case, you need to use our Separation Agreement. If you wish to create an agreement prior to marriage, use our Prenuptial Agreement. Can we create a Postnuptial Agreement if we are already married? Yes, Postnuptial Agreements (also called Marriage Contracts) are intended to be created after a couple is legally married (during the marriage).
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