The North Dakota postnuptial agreement is a legal document that outlines how spouses will handle their mutual financial and non-financial affairs. This can cover questions like the management of individual and marital property, division of the property in case of a divorce, matters connected with alimony, insurance, pension, liabilities, and more.
The main difference between postnuptial and prenuptial agreements is the moment the parties can sign the agreement. With prenup agreements, the parties are allowed to sign the agreement until they enter the marriage. However, with the postnup agreement, the spouses can sign the document only after they have already entered the marriage.
Laws and Legal Requirements for a Postnuptial Agreement in North Dakota
The laws and legal requirements for a postnuptial agreement in North Dakota are outlined in state laws and decisions made by the North Dakota court. The laws and court decisions are used to determine what the postnuptial agreement form should look like and what provisions it can include.
Chapter 14-03.2 of the North Dakota Code, also called the Uniform Premarital and Marital Agreements Act, is the main source of law for determining the legality of the postnuptial agreement in North Dakota.
Chapter 14-03.2-03 provides that the parties can determine the law of any jurisdiction for the postnuptial agreement as long as the designated law is not contrary to the fundamental public policy of North Dakota. However, if the parties haven’t determined the relevant law in the postnuptial agreement, the law of North Dakota will automatically apply.
Signing Requirements for a Postnuptial Agreement in North Dakota
Chapter 14-03.2-05 provides that the North Dakota postnuptial agreement form must fulfill the following requirements:
Signing Requirements
The document must be in written form
Both parties to the agreement must sign the document
The document must be recorded
The recording of the postnuptial agreement will provide additional security for all the parties involved, as it will confirm the authenticity of the document. In this way, the parties will prevent any potential disputes and fraudulent activities in this regard.
Postnuptial Agreement Enforcement in North Dakota
There are several requirements that must be met for the North Dakota postnuptial agreement to be considered enforceable. First, each spouse should fully disclose their financial status by providing a list of assets and liabilities they have acquired before signing the agreement.
Moreover, the postnuptial agreement must be fair for both parties to the agreement, and it should not be unconscionable. The parties should also be able to understand the consequences of signing the postnuptial agreement form, and they should be able to consult their legal advisor before signing the agreement.
Finally, each party should sign the agreement voluntarily, without coercion or duress.
What Can a Postnuptial Agreement in North Dakota Cover?
A postnuptial agreement in North Dakota can cover different matters connected with the financial and non-financial relationships of the spouses.
In the section below, you can see some of the matters that are most commonly included in the postnuptial agreement template:
Provisions in a Postnuptial Agreement
Rights and obligations in connection with the individual and marital property of the parties
Rules on how the parties will manage the property acquired during the marriage
Agreement on how the property will be divided in case of marriage dissolution, divorce, death, or any similar event
Matters connected with alimony, pension and insurance funds, wills, trusts, and more
Choice of relevant law for the interpretation of the postnup agreement
When drafting the postnuptial agreement, the parties should make sure all the provisions are in line with state laws and public policy.
Postnuptial Agreement in North Dakota: Validity Criteria
The North Dakota postnuptial agreement must fulfill the basic formality criteria set by the state law to be considered valid. This means that the parties must make a written postnuptial agreement, and they must both provide signatures on the document.
Moreover, the validity of the postnup agreement is also connected with the existence of the marriage. The parties can enter into a valid postnuptial agreement only after they get married.