What is a marital property agreement?

A marital property agreement is an agreement between two married partners that outlines how marital property is to be divided in the event of a divorce. In Oklahoma, marital property includes any property acquired during the marriage, regardless of which partner purchased it, owned it before marriage, or inherited it. This includes income, assets, and debts. A marital property agreement is also known as a prenuptial agreement, or prenup. It is usually signed before the marriage and can outline various aspects, such as how to divide property if the marriage ends in divorce. Under Oklahoma law, any agreement between spouses relating to marital property must be in writing and signed by both spouses. A marital property agreement can be beneficial in Oklahoma as it can help to reduce the potential for lengthy and costly litigation over assets if a couple decides to divorce. It can also serve to prevent disputes over the division of property, and can ensure that each of the spouses is fairly compensated for their contribution to the marriage. The marital property agreement can be modified at any time during the marriage and can be enforced by the court if the agreement is fair and reasonable. However, the agreement should be reviewed by an experienced family law attorney to ensure that it complies with Oklahoma law.

Related FAQs

Does my spouse need to be served with divorce papers?
What are the benefits of a short-term marriage divorce?
When can I get a divorce?
What is a separation agreement?
What is a parenting plan?
What are the legal requirements for a divorce?
What is the difference between a contested and uncontested divorce?
What is a collaborative divorce?
How is child custody determined?
How do I properly serve divorce papers?

What is a marital property agreement?

Related FAQs

Related Blog Posts