What is the notarial marriage contract?
A marriage contract is a relatively new concept for Ukrainians that has come to the country several decades ago. Today, persons planning to get married or spouses can draw up an agreement that sets forth the rights and obligations of husband and wife both in a family and after a divorce.
The marriage contract shall be drawn up by a notary. The notary will certify the fact of registration of an agreement between the spouses or persons planning to get married. The contract regulates pecuniary rights and obligations, as well as the spouses’ obligations as parents. Such issues as housekeeping, joint pastime, and principles of raising children cannot be discussed in the marriage contract.
Due to conclusion of a marriage contract we can avoid impulsive actions in the emotion of the moment of a divorce. Both parties stipulate the rights and obligations by mutual agreement. This helps to avoid contingent issues, both throughout the married life and in the event of a divorce.
The contract provides for 2 parties’ rights protection, therefore notarial marriage contract may include:
- participation of each spouse in family expenses;
- property rights: real estate, land, business;
- liability for loan obligations, including after a divorce;
- opening bank accounts for educating children, the contribution of each party;
- duties of husband and wife after divorce.
Who can prepare premarital agreement in Ukraine?
Both people planning to get married and official spouses can execute a marriage contract. For the former, the document comes to force on the day of the wedding. For the latter - from the moment of concluding a marriage contract with a notary.
By default, a document is no longer valid after a divorce. But the contract can specify a different period that exceeds the period of marital life.
It is also worth recalling that in the absence of an agreement, in case of a divorce all the property acquired during the marriage is divided in two. So, if there are burning issues related to the availability of real estate before the marriage, we recommend that they be stipulated in a marriage contract. It happens that an apartment had been bought before the marriage, then sold, and the amount was invested in a common house. In the event of a divorce, the property will be divided in two, despite who and how much has invested in its acquisition.
A marriage contract does not mean a discord within a family, but a competent decision of two people entering into a marriage. All the items are carefully discussed in order to come to an agreement with all of them. A notary attests signing of a contract thus validating it.
By exercising this right, you can prevent possible controversies that are inevitable in a married life. The contract protects each of the parties.
A notary checks the legal capacity of the persons, as well as the compliance of the contract clauses with the legislation of Ukraine. With his/her signature and seal, the notary validates the marriage contract.