Category : Databases and related files
Archive   : GUIDE75.ZIP
Filename : PREMAR.STA

 
Output of file : PREMAR.STA contained in archive : GUIDE75.ZIP
/* Here is the full text of the Uniform Premarital Agreement Act.
This law governs the rights and liabilities which arise out of
the execution of pre-nuptial (premarital) agreements. These
agreements are becoming more and more frequent. Why would you
need one? In situations in which persons remarry and have
children of their own, inheritances should be addressed so that
each set of children gets what their parent intends. Of course,
there are other reasons for this, but the primary one is the
problem of children from different marriages. */

Section 1. Definitions. As used in this Act:

(1) "Premarital agreement" means an agreement between
prospective spouses made in contemplation of marriage and to be
effective upon marriage.

(2) "Property" means an interest, present or future, legal
or equitable, vested or contingent, in real or personal property,
including income and earnings.

Section 2. Formalities. A premarital agreement must be in writing
and signed by both parties. It is enforceable without
consideration.

Section 3. Content. Parties to a premarital agreement may
contract with respect to:

(1) the rights and obligations of each of the parties in any
of the property of either or both of them whenever and wherever
acquired or located;

(2) the right to buy, sell, use, transfer, exchange,
abandon, lease, consume, expend, assign, create a security
interest in, mortgage, encumber, dispose of, or otherwise manage
and control property;

(3) the disposition of property upon separation, marital
dissolution, death, or the occurrence or nonoccurrence of any
other event;

(4) the modification or elimination of spousal support;

(5) the making of a will, trust, or other arrangement to
carry out the provisions of the agreement;

(6) the ownership rights in and disposition of the death
benefit from a life insurance policy;

(7) the choice of law governing construction of the
agreement; and

/* Choice of law means which state's law governs in case the
parties move, or have property in more than one state. */

(b) The right of a child to support may not be adversely affected
by a premarital agreement.

Section 4. Effect of marriage. A premarital agreement becomes
effective upon the marriage.

Section 5. Amendment, Revocation. After marriage, a premarital
agreement may be amended or revoked only by a written agreement
signed by the parties. The amended agreement or the revocation is
enforceable without consideration.

Section 6. Enforcement. (a) A premarital agreement is not
enforceable if the party against whom enforcement is sought
proves that:

(1) the party did not execute the agreement voluntarily; or

(2) the agreement was unconscionable when it was executed
and, before execution of the agreement, that party:

(i) was not provided a fair and reasonable disclosure of the
property or financial obligations of the other party;

/* Be very careful and attorneys will generally not recommend
that a premarital agreement without disclosure be executed. */

(ii) did not voluntarily and expressly waive, in writing,
any right to disclosure of the property or financial obligations
of the other party beyond the disclosure provided; and

(iii) did not have, or reasonably could not have had, an
adequate knowledge of the property or financial obligations of
the other party.

(b) If a provision of a premarital agreement modifies or
eliminates spousal support and that modification or elimination
causes one party to the agreement to be eligible for support
under a program of public assistance at the time of separation or
marital dissolution, a court, notwithstanding the term of the
agreement, may require the other party to provide support to the
extent reasonably necessary to avoid that eligibility.

(c) An issue of unconscionability of a premarital agreement
shall be decided by the court as a matter of law.

/* This means that a jury will not decide this fact. This is an
attempt to avoid jury sympathy. */

Section 7. Enforcement; Void Marriage. If a marriage is
determined to be void, an agreement that would otherwise have
been a premarital agreement is enforceable only to the extent
necessary to avoid an inequitable result.

Section 8. Limitation of actions. Any statute of limitations
applicable to an action asserting a claim for relief under a
premarital agreement is tolled during the marriage of the parties
to the agreement. However, equitable defenses limiting the time
for enforcement, including laches and estoppel, are available to
either party.

/* "Tolling a statute of limitations" means that the time for the
suit to be brought does not begin until the marriage is over
subject to the statement that the parties cannot mislead one
another by a failure to act (laches and estoppel). */

Section 9. Application and construction. This Act shall be
applied and construed to effectuate its general purpose to make
uniform the law with respect to the subject of this Act among
states enacting it. 

  3 Responses to “Category : Databases and related files
Archive   : GUIDE75.ZIP
Filename : PREMAR.STA

  1. Very nice! Thank you for this wonderful archive. I wonder why I found it only now. Long live the BBS file archives!

  2. This is so awesome! 😀 I’d be cool if you could download an entire archive of this at once, though.

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