Thai Prenuptial AgreementMarch 26, 2019
A Thai prenuptial agreement is a contract which is signed and notarized, stating how the couple wishes to handle the financial aspects of their marriage. Although it’s hard to treat a marriage as if it were business, drafting a prenuptial agreement applies that sort of approach. A prenuptial agreement should not be taken as an “exit plan”, but as a simple way of protection from unlikely circumstances, as a personal insurance policy on the legal concerns of the marriage contract. Speak to a Thailand lawyer for more information.
Thai Prenuptial Agreement
Prenuptial agreements in Thailand are authorized in accordance with Thai law if they meet certain prerequisites. When prepared correctly, Thai prenuptial agreements are considered as legal agreements even in jurisdiction outside Thailand. Prenuptial agreements are common nowadays when it comes to the second and third marriage. It is an agreement that states how certain properties are to be divided in an event of a divorce, and most couples are using it to merely secure their peace of mind.
Property ownership in Thailand has two categories: Sole properties and Conjugal properties. Sole or separate properties are those owned separately by the husband and the wife. It includes inheritance acquired after the marriage, gifts and other personal items. The other category of properties in Thailand is known as the communal property or conjugal property, which refers to those owned jointly by the husband and wife. This would include properties obtained during the marriage. This is where the prenuptial agreement comes handy, if any doubt would come up as to which category a certain property falls into.
Even if having a divorce in Thailand is the last thing on your mind, it is still best to consult a lawyer in Thailand regarding to how a prenuptial agreement should be drafted before getting married. Prenuptial agreements are practical remedies to dealing with financial aspects or a marriage.