The Thai Prenuptial Agreement has become very common nowadays, especially at the time on the second and third marriages. The “Prenup” as it is commonly known, is an agreement between two people agreeing that in case of a divorce, the ownership of a certain property remains solely to one person and not conjugal. This agreement would detail all the things you wish to agree about your assets when one or the other decides to end marriage.
Thai Prenuptial Agreement
The prenuptial agreement in Thailand is not mandatory but most of the time it enhances financial security when partners decide to get married. The cost of a divorce case would be minimized if there is a prenuptial agreement present, and lesser chances of parties arguing on which assets belong to whom. However, the law differs from each country and it is always best to seek legal assistance from a Thai lawyer regarding prenuptial agreement prior to getting married.
Prenuptial agreements in Thailand increased suddenly because being married confuses property jurisdiction between two individuals, and this agreement ensures that both will have peace of mind. Property ownership in Thailand is divided into two categories: Separate property owned by the husband or the wife, and Communal property which is owned by both as a couple.
Under Thai law, certain requirements are needed to make sure a Prenuptial Agreement is legit. They are as follows:
- The contract should be written or made in writing
- Each spouse should have separate lawyers to represent them in court
- Each spouse should sign the prenuptial agreement in the presence of two witnesses before the registration of their marriage
- The contract should be registered with the same local district office where the marriage would be registered
The second category of property ownership in Thailand is the marital property, which is jointly owned by the husband and wife. This would include all properties acquired during the marriage. This makes the prenuptial agreement necessary because if there should be any doubt as to which category a property falls in, that property would automatically become communal property.
It is never been the goal of marrying parties to have marriage ended in divorce. But, mostly, considering prenuptial agreement would be beneficial to both giving security and of less stress when time comes that both intends to end their marriage in Thailand. Consider all your options when it comes to the Thai prenuptial agreement.