Types of Prenuptial Agreements & Legal Requirements
The two types of prenuptial agreeements are:
- marriange contracts
- co-habitation agreements
Marriage contracts are for couples who are about to be married or are who are already married. Co-habitation agreements are for unmarried couples.
What makes a prenuptial agreement valid?
Four factors must be in place in order for a prenuptial agreement to be valid. They are:
- the contract must be in writing and cannot simply be an oral agreement or arrangement
- the contract must be signed by each party voluntarily
- the contract must offer full disclosure at the time it is signed
- the agreement can't be "unconscionable", i.e., can't have terms that are unfair to one party. Note: This is a legal term of art. Prenuptial agreements can be signed by a party that waives his or her right to property, alimony, etc.
