Marital Property Agreement Form

Note: This summary is not intended to be an all inclusive discussion of the law of separation agreements in Nevada, but does include basic and other provisions.

General Summary:

Separation agreements are permitted within certain limits. The parties are not able to contract to change their legal relationship except as to property, and except that they may agree to an immediate separation and may make provision for the support of either of them and of their children during such separation. If a contract executed by a husband and wife, or a copy thereof, be introduced in evidence as an exhibit in any divorce action, and the court shall by decree or judgment ratify or adopt or approve the contract by reference thereto, the decree or judgment shall have the same force and effect and legal consequences as though the contract were copied into the decree, or attached thereto.

If an agreement by the parties settling their property rights has been approved by the court, modification of the agreement requires the agreement of the parties by stipulation or that provision for modification by the court be within the terms of the settlement agreement.

In "summary proceedings", a separation agreement is required where issues are present regarding minor children; joint or community property and/or liabilites relative to joint or community property; or, spousal support.

Statutes:

CHAPTER 123 - RIGHTS OF HUSBAND AND WIFE

Property rights of husband and wife governed by chapter; exceptions; rights vested before March 10, 1873, not affected:

The property rights of husband and wife are governed by this chapter, unless there is a marriage contract or settlement, containing stipulations contrary thereto.

NRS 123.010.

Husband and wife may make contracts:

Either husband or wife may enter into any contract, engagement or transaction with the other, or with any other person respecting property, which either might enter into if unmarried, subject in any contract, engagement or transaction between themselves, to the general rules which control the actions of persons occupying relations of confidence and trust toward each other. Section NRS 123.070

Contract altering legal relations: Separation agreement; consideration; introduction in evidence in divorce action:

1. A husband and wife cannot by any contract with each other alter their legal relations except as to property, and except that they may agree to an immediate separation and may make provision for the support of either of them and of their children during such separation.

2. The mutual consent of the parties is a sufficient consideration for such an agreement as is mentioned in subsection 1.

3. In the event that a suit for divorce is pending or immediately contemplated by one of the spouses against the other, the validity of such agreement shall not be affected by a provision therein that the agreement is made for the purpose of removing the subject matter thereof from the field of litigation, and that in the event of a divorce being granted to either party, the agreement shall become effective and not otherwise.

4. If a contract executed by a husband and wife, or a copy thereof, be introduced in evidence as an exhibit in any divorce action, and the court shall by decree or judgment ratify or adopt or approve the contract by reference thereto, the decree or judgment shall have the same force and effect and legal consequences as though the contract were copied into the decree, or attached thereto. NRS 123.080.

Contracts or settlements to be written and acknowledged:

All marriage contracts or settlements must be in writing, and executed and acknowledged or proved in like manner as a conveyance of land is required to be executed and acknowledged or proved. Section NRS 123.270

Recording in counties where real property situated:

When such marriage contract or settlement is acknowledged or proved, it must be recorded in the office of the recorder of every county in which any real property may be situated which is conveyed or affected by such contract. NRS 123.280.

Record of contract to impart notice:

When such marriage contract or settlement is deposited in the recorder's office for record, it shall, as to all property affected thereby in the county where the same is deposited, impart full notice to all persons of the contents thereof. NRS 123.290

Effect of not recording contract or settlement:

No such marriage contract or settlement shall be valid as to any real property, or affect the same, except as between the parties thereto, until it shall be deposited for record with the recorder of the county in which such real property is situated. NRS 123.300

Minors may make marriage contracts or settlements:

A minor capable of contracting marriage may make a valid marriage contract or settlement. NRS 123.310

Alimony and adjudication of property rights; award of attorney's fee; subsequent modification by court:

Except as otherwise provided in NRS 125.155 and unless the action is contrary to a premarital agreement between the parties which is enforceable pursuant to chapter 123A of NRS:

If the court adjudicates the property rights of the parties, or an agreement by the parties settling their property rights has been approved by the court, whether or not the court has retained jurisdiction to modify them, the adjudication of property rights, and the agreements settling property rights, may nevertheless at any time thereafter be modified by the court upon written stipulation signed and acknowledged by the parties to the action, and in accordance with the terms thereof.

If a decree of divorce, or an agreement between the parties which was ratified, adopted or approved in a decree of divorce, provides for specified periodic payments of alimony, the decree or agreement is not subject to modification by the court as to accrued payments. Payments pursuant to a decree entered on or after July 1, 1975, which have not accrued at the time a motion for modification is filed may be modified upon a showing of changed circumstances, whether or not the court has expressly retained jurisdiction for the modification. NRS 125.150.

Summary proceeding for divorce: Conditions:

A marriage may be dissolved by the summary procedure for divorce set forth in NRS 125.181 to 125.184, inclusive, when all of the following conditions exist at the time the proceeding is commenced:

1. Either party has met the jurisdictional requirements of NRS 125.020.

2. The husband and wife have lived separate and apart for 1 year without cohabitation or they are incompatible.

3. There are no minor children of the relationship of the parties born before or during the marriage or adopted by the parties during the marriage and the wife, to her knowledge, is not pregnant, or the parties have executed an agreement as to the custody of any children and setting forth the amount and manner of their support.

4. There is no community or joint property or the parties have executed an agreement setting forth the division of community property and the assumption of liabilities of the community, if any, and have executed any deeds, certificates of title, bills of sale or other evidence of transfer necessary to effectuate the agreement.

5. The parties waive any rights to spousal support or the parties have executed an agreement setting forth the amount and manner of spousal support. NRS 125.181.