A Thai Prenuptial Agreement is a personal Thai contract drafted prior to the marriage, listing all the personal properties and marital assets between both couples to be governed by statutory marriage laws. Thai law requires this agreement to be made before the marriage and registered together with the marriage at the local district office – thus becomes void if not registered or done after the marriage. There are a number of these such as the amphur in Bangrak, the amphur in Pathumwan as well as the amphur in Prakhanong. Consider the prenuptial before you get married in Thailand so that you have it when you apply for your CR1 visa or K3 visa in Thailand.
Some may feel a bit skeptical about signing a binding agreement declaring all your assets and liabilities, but having a Thai Prenuptial Agreement prior to getting married has various advantages aside from protecting all your personal properties. It also helps secure your business assets and family property. In case of a divorce a Prenuptial agreement will protect you from any debt incurred by the other spouse, and can also delegate financial responsibility for your children. It may include provisions regarding the custody of the child as well as other rights.
Most importantly, a Thailand prenuptial agreement can reduce the risk of having legal issues – thus lowering the litigation costs. This contract will be used as aids to the divorce process by determining the fair distribution of properties of the divorcing parents.
A valid Prenuptial Agreement outlines all assets of both parties brought into the marriage, including management of marital assets acquired during the marriage. It may also outline the couple’s wishes on how to divide their marital assets if ever the marriage is dissolved by divorce or death of one spouse. The Prenuptial agreement may be drafted in Thai and another language, and is acknowledged by law as long as:
- Both parties involved understand all the content of the contract;
- The clauses are not against the good morals of law;
- The contract is signed in front of 2 witnesses and registered together with the marriage registration;
Once the couple complies with the above-mentioned requirements, a valid prenuptial agreement is then created under Thai law. Any unfair or unjust terms included in the contract, which are deemed as against good morals under Thai law, will be considered null and void.
The creation of a Thailand Prenuptial agreement is currently being practiced widely in Thailand, where the drafting of its provisions is far more liberal compared to the West. Once this document is translated into English, the legalized Thai Prenuptial Agreement is recognized all over the world.