SAMPLE THAILAND ANTE NUPTIAL OR PRENUPTIAL AGREEMENT

Ante nuptial agreement and prenuptial agreement are synonyms

THIS DEED is made on the ___ ______ 2010.

BETWEEN:

(1)    Mr ___

and

(2)   Ms. ___


NOW THIS DEED WITNESSES as follows:

1   Recitals

1.1    The parties intend to enter into a legally binding contract of marriage in Thailand at the __ ______ 2010.

1.2    The parties further intend that this Deed shall be legally binding on them and their respective personal representatives and estates.

1.3    Both parties acknowledge that they have had the benefit of independent legal advice as to the terms and effects of this Deed and that it is entered into freely and voluntarily.

1.4    The parties are living together and the purpose of this Deed is to create legally binding arrangements as to financial and other matters during the course of their cohabitation and subsequent marriage.

2   Personal property

2.1    Any property owned solely by one party prior to the date of this Deed (whether acquired by purchase inheritance gift or otherwise) and any income derived from it shall remain the property of that party regardless of any increase in value.

2.2    Any property acquired after the date of this Deed by either party (whether acquired by purchase inheritance gift or otherwise) and any income derived from it and any increase in its value will belong to both parties equally unless they expressly agree otherwise in writing.

2.3    All items of personal use and adornment shall remain the sole property of the party by whom they are used regardless of the method of acquisition.

2.4    All property acquired jointly after the date of this Deed shall be deemed to belong to both parties as beneficial joint tenants regardless of their respective contributions towards acquisition unless they provide otherwise in writing and identify their respective shares or interest in such property

3   Gifts

Any gift from one party to the other shall be deemed to be an absolute gift unless it is expressly given on the condition that it will be returned to the donor on the termination of the parties’ relationship.

4   Bank accounts

4.1    Each party will maintain a separate bank or building society account and the funds in each such account will remain the separate property of the account holder.

4.2    The parties will open and maintain an account in their joint names (‘the Joint Account’):

4.2.1    the Joint Account and any interest credited to it shall belong to the parties in equal shares regardless of the sums, which either of them have paid into or withdrawn from the account;

4.2.2    Each party may draw cheques on and withdraw cash from the Joint Account up to a limit of THB ____ and any cheque or withdrawal exceeding the sum agreed shall be signed or made by both parties]

4.2.3    If either party purchases goods acquires assets or makes investments in his or her sole name with funds withdrawn from the Joint Account such goods assets or investments shall be deemed to belong to both parties in equal shares and any income derived from it shall belong to both parties in equal shares regardless of any increase in value unless the parties agree otherwise in writing.

5   Credit agreements

5.1    Any credit agreements finance agreements or loan facilities entered into by one party and in the sole name of that party shall be repaid by that party alone.

5.2    Any credit agreements finance agreements or loan facilities entered into by both parties shall be repaid in equal shares.

6   Debts

6.1    Except as provided in clause 5 above each of the parties shall remain personally liable for any current and future debts incurred in his or her sole name.  

6.2    Property acquired by one party prior to the date of this Deed and subject to finance agreements, credit agreement, hire purchase or loan facility shall be deemed to be the property of the party liable under such finance agreement, credit agreement, hire purchase or loan facility and that party shall be solely responsible in respect of any repayments.  

6.3    Any existing or future loans received from the family of either party shall be deemed to be the sole liability of the party by whose family such loan is made and repayments shall be made by the respective person alone.

7   Life insurance

7.1    Each party will take out a policy of insurance on his or her life in the sum of THB _ million for the benefit of the other party and will maintain that policy in full force until termination of this Deed.  

7.2       Neither party shall charge nor assign such policy of insurance.  

7.3    Each party shall at the other party’s request authorise the insurer to disclose to the party for whose benefit the policy is maintained any information as that party may from time to time request.

8   Pensions

8.1    Each party shall nominate the other to receive the whole of any pension and death in service benefits and/or any other payments due under any pension scheme or policy of which he or she may from time to time be a member.

8.2    Each party shall at the other’s request provide written evidence that such nomination has been made and recorded by the trustees of the pension scheme for the time being of any or all such schemes to which it relates.  

8.3    Except on termination or variation of this Deed any nomination made in accordance with the provisions of clause 9.1 shall not be cancelled or altered without the prior written consent of the other party.

9   Living expenses

9.1    Both parties have agreed to share the living expenses of the marriage.

9.2    In this Deed living expenses shall include but are not restricted to the following:

9.2.1    buildings household and contents insurance

9.2.2    water and sewerage rates

9.2.3    gas

9.2.4    electricity

9.2.5    telephone

9.2.6    white goods and television/ DVD rental

9.2.7    television/ Cable TV licence/ subscriptions

9.2.8    household food

9.2.9     household goods

9.2.10     repairs of household goods (excluding building/structural repairs)

9.2.11    children’s clothes

9.2.12    children’s food

9.2.13    children’s school fees

9.2.14    children’s spending money

9.2.15    family holidays

9.3    The parties agree that except for any living expenses wholly attributable to one or the other of them, all living expenses shall be paid from the Joint Account. All expenses exceeding the Joint Account shall be shared in proportion to their respective incomes or in such other proportions as they may from time to time agree.

9.4    In the event of ____ unemployment, illness, incapacity or the birth of the first child ___ shall be solely responsible for a period of 12 months from the date of the illness, incapacity of birth of the first child for the payment of all living expenses as set out in 9.2 above.

9.5    In the event TB’s unemployment, illness or other incapacity SK shall, for a period of 12 months from the date of the illness, or incapacity, be solely responsible for the payment of all living expenses as set out in 10.2 above.

10   Wills

Each party is aware of the rights of the survivor in the event of the death of either party and each party intends to execute a will as soon as practicable.

11   Provisions for termination of Deed

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