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The New York prenuptial or prenup agreement is a legal document that is signed between future spouses for the purpose of regulating their financial relationship.
Spouses can use the prenuptial agreement after marriage to determine how they will divide the property they have accumulated during the marriage. However, this document is also used during the marriage to determine the rights and obligations of each partner towards their marital property.
A prenuptial agreement should be used when one or both parties have accumulated certain assets or liabilities before getting married and they want to keep it as their individual property.
Laws and Legal Requirements for a Prenuptial Agreement in New York
The laws and legal requirements for a prenuptial agreement in New York are incorporated in precedents established by the state courts and a few provisions of the state law since the state of New York hasn’t adopted the Uniform Premarital Agreement Act.
GOB § 3-303 is the statute that defines contracts in contemplation of marriage, while DRL 236B(3) regulates:
Laws and Legal Requirements
Special controlling provisions
Prior actions or proceedings
New actions or proceedings
Signing Requirements for a Prenuptial Agreement in New York
The state law stipulates that both parties to the prenuptial agreement must sign it. Additionally, the notary public or at least one witness must also acknowledge the prenup agreement.
These requirements are set in order to additionally confirm the authenticity of the document and prevent potential disputes between the parties as well as any potential fraud. The notary public or witnesses will confirm the identity of the parties and confirm that they have personally signed the agreement.
Prenuptial Agreement Enforcement in New York
The court might declare one provision or the whole agreement unenforceable if one of the parties proves that:
Prenuptial Agreement Enforcement Conditions
They have signed the agreement against their will
The other party has not fully or truthfully disclosed their financial status before signing the agreement
They did not have, or reasonably could not have, adequate knowledge about the financial status of the other party
Additionally, if the prenup agreement includes provisions about spousal support or alimony that are extremely unfair to one of the parties, the court can declare such provisions unenforceable.
What Can a Prenuptial Agreement in New York Cover?
The prenuptial agreement in New York can include any provision necessary for regulating the financial relationship of the parties, as long as it is in line with state law and public policy.
Below are some of the most common provisions the parties choose to include in their prenuptial agreement:
Provisions in a Prenuptial Agreement
Provisions outlining the rights and obligations of future spouses regarding their individual property
Provisions determining a right to sell, buy, lease, mortgage, or manage the property acquired during the marriage
Provisions about rules on how the parties will divide the property accumulated during the marriage in case of divorce, separation, death, or other similar events
Provisions regulating matters like life insurance, spousal support, alimony, wills, trusts, and more.
Provisions determining the law that is going to be implemented in the prenuptial agreement
Prenuptial Agreement in New York: Validity Criteria
The basic violation that can affect the validity of the New York prenuptial agreement form is not following the formality criteria set by the state law. In simple words, if both parties fail to sign the agreement and get it acknowledged by the notary public or at least one witness, the document will be considered invalid.
The second reason for the invalidity of the prenuptial agreement is connected with the existence or validity of the marriage. This means that if the parties don’t get married after signing the agreement or their marriage becomes void, the prenuptial agreement will be considered invalid.