prenup, prenuptial and nuptial agreements
The purpose of a prenuptial or nuptial or agreement is to enable the spouses or future spouses to divert from the community of property regime (that is to be applied by virtue of the law if there is no prenup). In such marital agreements (either prenuptial or nuptial) the parties determine the matrimonial property regime they wish to apply, therefore they may qualify any income or asset as separate property that would – without a prenup – be assessed as joint property or asset by the law and vice verse. It is also possible for the spouses to determine their property regime retroactively. Such marital agreements make the settlement of the assets much easier during marriage and in case of a divorce.
Both prenuptial and nuptial agreements shall be concluded – and also amended and dissolved – before an attorney or a public notary – just as be amended and dissolved – otherwise the agreement does not meet the formal requirements of the law. The law prescribes this because the assistance of a competent legal professional is vital in cases of such complexity.
There’s a possibility to have marital agreements entered into the national register of matrimonial property contracts. In this case the agreement shall be effective against any third parties – who for example gives a loan to any of the spouses -, it means that the third party may not rely to the lack of knowledge of the agreement.
The purpose of a prenup is not only to clarify the financial matters between the spouses but to protect private assets from third party creditors.
Dissolution of marriage
Kölcsényi and Némethi Law Firm
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1145 Budapest, Mexikói Street. 52/A.
Floor 1, door 5, doorbell 13