Premarital agreement, in Hindi known as “पूर्वविवाहिता समझौता,” is a legal agreement made between two individuals who are planning to get married. This agreement is made before the marriage takes place, and it outlines the rights and responsibilities of each partner during the marriage and in the event of a divorce or separation.
A premarital agreement is commonly used to protect assets and property that either party may have before entering into the marriage. This agreement can dictate how the property will be divided in the event of a divorce or separation, which can save both parties from a long and costly court battle.
In India, premarital agreements are not very common as marriage is considered to be a sacred union of two individuals that should not be tainted by business and property matters. However, with the increasing prevalence of divorce rates in India, premarital agreements are becoming more popular.
According to the Indian Contract Act, premarital agreements are legally binding as long as they are entered into voluntarily and without coercion, fraud, or undue influence. Both parties must have a clear understanding of the agreement`s terms and implications and must sign the document in the presence of witnesses.
The contents of a premarital agreement can vary depending on the couple`s specific needs and preferences. However, the agreement typically includes the following details:
– The financial assets and liabilities of each partner before the marriage
– The terms of any pre-existing property agreements or trusts
– The distribution of assets in case of separation or divorce
– The terms of spousal support, if any, in case of separation or divorce
– The terms of any wills or trusts made during the marriage
– Any other details that the couple may want to specify, such as child custody or visitation rights.
Before entering into a premarital agreement, it is essential to consult with a lawyer who specializes in family and matrimonial law. A lawyer can help to draft the agreement, ensure that it complies with all legal requirements, and ensure that both parties understand the terms and implications of the agreement.
In conclusion, premarital agreements are becoming more common in India as more and more couples want to protect their assets and property before entering into a marriage. While not traditionally practiced in Indian culture, premarital agreements can provide significant benefits to both parties and should be considered as an option for those planning to get married.
