Prenuptial Contract or we called Marriage Contract in Thailand? What our lawyers say
Prenuptial Agreement is a marriage contract, antenuptial or premarital contract, which the contract was written before married. the agreement of the groom-bride Regarding property (and liabilities) of both parties and dividing those assets in the event of divorce or death from one side.
Prenuptial agreement divided in property into 3 categories which are Separate property assets and liabilities, marital property, and separate property. Separate property assets and liabilities are property, which a spouse has before marriage such as, a land that family gave them, condominium or house that they bought with their own money, cash on account, or real estate. And Liabilities that has before marriage, which are credit card debt, or bank loan. Marital property is property that spouses work or find property together during marriage such as, house installment payment, saving money together, and the things that spouses make value for their family. Separate property is assets or property that belong to either party before marriage or between marriage such as an inheritance that one party will receive from their own relative, reward that comes from their abilities. But sometimes, things that grow from personal possessions during marriage, such as money, interests, profits, or higher stock values, might be clearly specified. If not, property can be marital property. Marriage contract might be appropriate with a spouse who has more property than the other, spouses who has a large amount of liabilities and spouses who are obliged to pay the ex-wife and stepchildren from the previous marriage.
Restrictions of Prenuptial Agreements, some of the countries do not endorse prenuptial agreements because it is considered not good for social policy. Due to prenuptial agreements can cause more divorce or husband can use prenuptial agreements for change a wife. Things that should not be specified in a prenuptial agreement include the religion of children, division of duties in the home financial burdens or how often sex because it is a condition that the court does not have a mechanism for making decision and the text in the prenuptial agreement must not conflict with public order or good morals. And if there are strange conditions like that may cause the court to decide that prenuptial agreements will become to invalid. Benefits of making a prenuptial agreement, don't need to be rich and can make a contract before marriage. Especially, those who are getting married a second time because there are lessons and burdens (Old wife and stepdaughter) from previous marriages.
The various limitations of the prenuptial agreement are some states or countries do not allow a contract that restricts or refrains from providing alimony to an inferior spouse. Especially if the other spouse is rich, and also the court can cancel the contract if it is found that the heart of that contract is fraud, deception, intimidation, or coercion. To allow the other party to comply, such as the groom bringing the contract to the bride to sign the night before the wedding the bride may sue for intimidation or coercion. Generally, the contract should be signed not less than 30 days before sending the wedding invitation card. And, in the case of a contract between married couples of different cultures and education the agreement may not be the best interest of the parties, which may not understand the intent and content of the contract well enough. By the way, it is not possible to change the cancellation of prenuptial agreements. Unless authorized by the court and, despite the provisions of the prenuptial agreement, the spouse has the right to accepts changes to the cancellation of the prenuptial agreement.
Benefits of prenuptial agreement is both sides can negotiate the content of the division of property by themselves. Instead of having the court decide by means of the province or state in which the property is to be divided, help protect spouses who have to leave their jobs or homeland to start a new life, can protect each other’s belongings that are passed down from grandparents to grandchildren or family businesses that have been around for a long time before marriage, and helps to make estate planning plans of each party easier and helps prevent future conflicts.
The termination of the prenuptial agreement may be made under the following conditions, in case, one party did not disclose all assets-liabilities, prove that the contract is unconscionable while that contract is signed or according to current events, and one party cheated, manipulated, deceived, threatened to force the other party to comply.
In conclusion, prenuptial agreement, before you get married, there are many advantages in addition to protecting your personal belongings. It will also help secure your business and family property. And prenuptial agreement can reduce the risk of divorce that come from dived property.
The contract usually has an appendix that states that who has what is “Marital property” and “Personal property”.
Prenuptial Agreement must specify the personal property of each person. The couple should to think about How to manage out money? Will the property obtained during marriage be taken as a “Marital property” so that, if divorced, should divide by two or continue to be personal property? Some couples may have different special agreements, which is a matter for couples to consult each other or to have a lawyer to join.
A valid Thai Prenuptial Agreement that is required by law if:
Received in writing on the same day of marriage registration.
It is a written contract signed by both parties.
Must have two witnesses.
The contract must be attached to the marriage certificate of marriage registration.
Prenuptial contract can become invalid. In general, the parties may specify things that are not contrary to the law or the morality of the society in this kind of contract. But the contract must not contain content that invites the other to hurry to divorce the other party quickly because this kind of contract can be considered void. After made Prenuptial agreements will be binding on the spouse forever. The prenuptial agreement cannot be changed, unless authorized by the court. If the spouse agrees to change the prenuptial agreement without the permission of the court. Generally, does not change the prenuptial agreement, and even in the contract is clearly stated that the husband and wife have the right to change and cancel the prenuptial agreement by themselves.
Prenuptial agreements are an important thing that should be done before marriage to protect our assets and interests in the future. But when it is necessary to enforce (Divorce in divorce), the court may have the right to intervene as appropriate. The Thai prenuptial agreement is an agreement on property between husband and wife made between them and is subject to Thai law only. Thai law is a boundary of the prenuptial agreement and you must comply with Thai rules in order for this contract to be legally effective.
It is advisable to contact our MILA Law firm lawyers in Bangkok or Chiang Mai to draft a marriage contract.