A Prenuptial Agreement (“prenup” for short) is a written contract created by two people before they are married. A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person’s property rights will be after the marriage. Prenup outlines the state of finances and personal liabilities in case the marriage fails.
The Indian courts take cognisance of a prenuptial agreement if both the parties mutually agree to it and sign it voluntarily, without any undue influence, force or threat. Besides, the agreement should be fair, clearly stating the division of property, personal possessions and financial assets of the parties, and should be certified by a separate lawyer for each.
Prenuptial agreement is more likely to stand up if it meets the following conditions:
- The Agreement should be fair, and duly acknowledged.
- The Agreement should have attorney certification from both parties as well.
- The Agreement should have clause stating that if any provision of the agreement is invalidated, the rest of the agreement still remains in effect.
- There should be listing attached showing each spouse’s assets and liabilities.
- The Agreement should have all the clauses of agreements arrived at between the prospective spouses.
- The Agreement may also contain the necessary history of proposed alliance.
- The Agreement should be reviewed by separate lawyers and duly certified by them.
- The Agreement should be setting out each party’s assets, debts, and property rights before the marriage, settling issues of division of property and of spousal support in the event of marriage breakdown.