Louisiana Separate Property Agreement Form

State:
Louisiana
Control #:
LA-670-M
Format:
Word; 
Rich Text
Instant download

Description

This agreement is executed by co-owners who agree that a property owned by them shall not be sold, encumbered, leased or partitioned. Note that La. R.S. 9:1112 allows an agreement not to alienate, encumber or lease but limits the term to fifteen years from the execution of the agreement. Similarly, La. R.S. 9:1702 allows an agreement not to partition but limits the term to fifteen years from the execution of the agreement.
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FAQ

Separate property is property belongs exclusively to one of two spouses. Under Louisiana law, assets acquired by a deceased person while unmarried, or acquired during the marriage by gift, is considered to be separate property.

Income from separate property is usually community property under Louisiana law. If either the husband or the wife does not want to share the ownership of the income from separate property, however, that spouse can make a declaration before a Notary Public.

In Louisiana, legal separation is only available to couples in a covenant marriage. To file for a legal separation, you must provide the court with a legal reasonor, groundsfor your request. Additionally, you will need to participate in marital counseling before the judge can grant your petition for separation.

There's a strong presumption under Louisiana law that all assets and debts a couple accumulates during marriage are community property. Separate property is property that one spouse owned alone before the marriage, acquired by gift or inheritance during the marriage, or property covered by a prenuptial agreement.

These vary widely depending on the parish where you must file. They can easily range from $250 to $400 to file your petition for divorce, waiver of service and other ancillary paperwork.

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Louisiana Separate Property Agreement Form