The Oregon postnuptial agreement is a legal document that the parties that are already married use to define their financial and non-financial relationship during and after the marriage. Moreover, the spouses can also use this document to determine how the property will be divided in case they get divorced.
The main difference between postnuptial and prenuptial agreements lies in the moment the parties sign them. With a prenup agreement, the parties sign the document before they get married. However, with the postnup agreement, the parties can sign the document once they have entered the marriage.
The main benefit of signing the postnuptial agreement is that it can prevent potential disputes between spouses and save them a significant amount of time and resources by preventing or shortening the divorce procedure.
Laws and Legal Requirements for a Postnuptial Agreement in Oregon
The laws and legal requirements for a postnuptial agreement in Oregon provide guidelines on how the parties should draft their agreement and what provisions they are allowed to include in the document. The main sources of law for determining the legality of the Oregon postnuptial agreement form are state law and court decisions.
Section 107.105(1)(f) of the Oregon Revised Statutes provides that the court may determine how property will be distributed between the parties after the divorce in a just and proper way.
Signing Requirements for a Postnuptial Agreement in Oregon
The Oregon postnuptial agreement should be made in written form. Moreover, the state law requires both parties to the agreement to sign the document. They can do it personally or by having an authorized representative sign the document on their behalf.
Although it is not required, the parties are always advised to notarize their agreements whenever possible. This action will provide additional confirmation of the document’s authenticity and additional security for the parties. The notary public will identify the parties and acknowledge that they have personally signed the agreement.
Postnuptial Agreement Enforcement in Oregon
The Oregon state law provides that, in order to be considered enforceable, the Oregon postnuptial agreement form must fulfill the following criteria:
Postnuptial Agreement Enforcement Conditions
It must be made in written form and signed by both parties
Each party must sign the agreement without any pressure, coercion, duress, or other influence on their free will
Each party must make a full and truthful disclosure of their financial status by outlining all of their assets and liabilities acquired before entering the agreement
The agreement must be fair and equitable for both parties to the agreement
What Can a Postnuptial Agreement in Oregon Cover?
The Oregon postnuptial agreement template can cover multiple matters connected with the financial and non-financial relationships of the spouses.
The following are some of the matters that are most commonly covered by the provisions of the postnuptial agreement template:
Provisions in a Postnuptial Agreement
Rights and obligations of the parties in connection with their individual and marital property
Right to sell, buy, lease, transfer, mortgage, or manage the property acquired during the marriage
Agreement on how the parties will split their marital property in case of a marriage dissolution or divorce
Matters connected with spousal support, insurance, pensions, wills, trusts, and more
However, the parties are not allowed to include any provisions regulating matters of child support since this matter is in the jurisdiction of the court. Moreover, all the provisions must be in line with state laws and public policy.
Postnuptial Agreement in Oregon: Validity Criteria
The first validity criteria for the Oregon postnuptial agreement is connected with the formality criteria set by the state law. In other words, the postnuptial agreement must be in written form to be considered valid.
The second validity criterion is connected with the existence of the marriage. This means that the parties can sign the postnuptial agreement only after they have entered the marriage.