According to the Marriage Law, couples can agree that the property acquired during the marriage relationship and the premarital property shall be owned respectively, jointly or partly by themselves or partly jointly. The agreement shall be in writing. However, the effectiveness of the marital property agreement depends on whether the following situations are met:
First of all, the marital property agreement must be based on the equality, voluntariness and consensus of both husband and wife. If there is coercion and fraud, the agreement will be invalid.
Secondly, in the agreement, only the property owned by both parties can be agreed, but not the property of others. If the content of the agreement infringes the interests of the state, the collective or other third parties, such an agreement is also invalid.
Thirdly, the agreement should preferably be in writing.
Finally, as long as the marriage property agreement is legal and valid, it will become effective after both parties sign and seal it, and will also have binding force on the parties. However, it should be noted that such agreements are not legally enforceable. That is, when one party fails to perform its obligations according to the agreement, the other party cannot directly take the agreement to the court to apply for enforcement.
Article 19 of the Marriage Law
[Agreement on marital property] The husband and wife can agree that the property obtained during the marriage relationship and the premarital property shall be owned respectively, jointly, or partly, respectively, and partly jointly. The agreement shall be in writing. In the absence of an agreement or unclear agreement, the provisions of Articles 17 and 18 of this Law shall apply.
The agreement between husband and wife on the property acquired during the period of marriage and the property before marriage shall be binding on both parties.
If the husband and wife agree that the property acquired during the marriage relationship shall belong to each other, and the debts of the husband or wife to the outside world are known to the third party, the property owned by the husband or wife shall be used to pay off.
