The option of Marriage Agreement is generally followed in western countries of the world. In India marriage is not considered a contract but a sacrament. People of India treat marriage as a sacred bond between couples. Marriage Agreement is invalid in India under the Hindu marriage Act, 1955 and is specifically governed by the Indian contract Act, 1872.
Hindu law does not accept the concept of marriage agreement. From a marriage contract, the spouse can get certain property rights. Therefore, it is important to seek assistance from experienced document review lawyer when preparing such an agreement.
What is a marriage agreement?
An agreement between two individuals getting married, before the solemnisation of the marriage with consent of the attorney shall be referred to as marriage agreement. The spouse before marriage must consult an attorney separately. Before entering into a contract, the agreement must be in writing. Such agreement is also referred to as prenuptial agreement.
What is a prenuptial agreement?
Agreement between two people intending to marry which deals specifically with arrangement of property. Prenuptial agreement is not only signed amongst the rich. Scope of Prenuptial Agreement may extend to a wide range of topics of property, such as spousal support.
Prenuptial Agreement would generally refer to all the property of each spouse – the property they own and the debts to be paid. It also describes the property rights which will be taken after the marriage. Therefore, it is advised to seek the assistance of a professional for legal document drafting when talking about a marriage agreement.
A Prenuptial Agreement is also referred to as an “Ante nuptial Agreement”, or as a “Premarital Agreement”. A Prenuptial Agreement shall take effect from the day the marriage got solemnised.
Basic Rules to be followed when drafting a marriage agreement
AvPrenuptial Agreement has four basic rules which must be followed. They are-
Be Honest: Spouses shall be honest with their assets and liabilities.
Sign Before: The Prenuptial Agreement should be signed before the marriage.
Separate Counsel: Spouses must be represented by separate and independent Legal Counsel for negotiation.
Fair: The Agreement must be fair and reasonable.
Who needs a prenuptial agreement?
Prenuptial Agreements are basically used to protect assets, finances and property of the parties. Some of the reasons as to why a person would need a Prenuptial Agreement have been discussed below-
Protection from debts: These Agreements are used to safeguard the spouses from each other’s debts. A number of other issues can be included as well.
Elucidating over financial rights: Spouses may wish to clarify their financial rights and responsibilities with or without children.
Avoiding Arguments: In case of a divorce, helps avoid arguments with your spouse.
Separate property to children: In case either of the spouse has a child before marriage, a separate property is required to be given to their children
Types of agreement
Contract of a marriage is an agreement to marry. Different agreements could be included in the contract. These are-
Prenuptial Agreement: Spouses enter into an agreement about marriage before getting married. It explains the property and assets of each spouse. During the course of marriage, property and assets acquired by the couple would be divided as per the agreement in the event of divorce.
Postnuptial Agreement: These are the agreements signed after marriage. The marriage must be legally valid. The division of property and assets will be done in the event of divorce.
Separation Agreement: The Agreement where both the spouses agreed to live separately is a Separation Agreement. It would also include clauses related to child custody, maintenance of the child and also for the spouse. During separation, the spouses would need to handle the child support, child custody and dividing of assets, liabilities as well as property.
Stipulation of settlement Agreement: Agreement where both partners agree to end their marriage without the involvement of the court. This Agreement can also be referred to as the Marital Settlement Agreement. It shall include the property, assets, maintenance of spouse, and child custody and visitation arrangements, and the parties would not have to seek interference of the court.
Marriage contract in Hindi
No strict mandate is there for a specific language; however, contracts are generally drafted in English for convenience of the parties. A contract can be drafted in vernacular language or a common language of the parties such as Hindi as well.
Conclusion
The marriage agreements would include the financial situations of each spouse whose aim is to get a clarity on the manner as to how assets and income shall be owned and transferred prior to marriage, during marriage and at the time of separation.
The spouses would have to sign these marriage agreements and then they would be legally binding on them. This agreement ensures the right to fix their finances later. As could be understood from above, assistance from an experienced contract review lawyer for draft contract.
Lead India offers you a team of experienced advocates who have been successfully handling cases related contract drafting, reviewing, cases related to marriage issues such as divorce, maintenance, separation, child custody, etc. Hence, if you wish to talk to a lawyer or seek free legal advice online, you may contact us.
SOURCE:-
Visit us: — https://www.leadindia.law
Call Us: +91–8800788535
Email: care@leadindia.law
Facebook: — https://www.facebook.com/leadindialaw
LinkedIn: — https://www.linkedin.com/company/76353439
Twitter: — https://twitter.com/leadindialaw
Pinterest: — https://in.pinterest.com/lawleadindia
Instagram: - https://www.instagram.com/leadindialawofficial
Comments